The Securities and Exchange Commission, Nigeria’s top capital market regulator, has announced the beginning of an annual renewal of registration for operators in an effort to quell unethical behavior among market operators.
The registration period for 2023 will run from January 1 through January 31, 2023. The commission asserts that the annual renewal of capital market operators’ registrations is intended to guarantee that only legitimate individuals work on the Nigerian capital market.
The renewal was also implemented to lessen instances of unethical behavior by CMOs, which might harm investors’ confidence and have a detrimental effect on the Nigerian capital market.
Consequently, the Commission amended its rules and re-introduced the requirement for yearly renewal of registration by all CMOs and carried out electronically in order to ensure efficiency.