The Securities and Exchange Commission (SEC) has reassured investors about the safety of their investments as financial technology (Fintech) continues to reshape Nigeria’s investment landscape. Speaking during a capacity training session for financial reporters in Abuja, Hasfat Rufai, SEC’s Director of Registration, Exchanges, and Market Infrastructure, emphasized the Commission’s efforts to mitigate risks posed by technological disruptions.
Rufai acknowledged that while the rise of digital platforms, global market access, and growing interest in cryptocurrencies and startups have brought new opportunities, they also present regulatory challenges and risks to investor protection. She highlighted the importance of adapting to the evolving environment by embracing technology, acquiring knowledge, and making responsible investment decisions.
She further pointed out that the future of investments would be driven by technological advancements, a growing number of young investors, and the introduction of innovative financial products. Rufai also noted that Fintech’s impact is evident in sectors like the commodities market, where electronic connections between storage facilities and exchanges have improved efficiency and accessibility, creating new investment opportunities for Nigerians.
To bolster its regulatory approach, the SEC recently partnered with the Toronto Center to enhance its Risk-Based Supervision (RBS) framework, aiming to strengthen its oversight of market infrastructure and operators and better protect investors. This initiative underscores the SEC’s commitment to ensuring stability and fostering investor confidence in the evolving digital economy.