The Securities and Exchange Commission (SEC) has announced its hard stance against dishonest practices by market operators in Nigeria. The Commission stressed its commitment to protecting investors and ensuring that market operators met ethical and legal standards.
Speaking during an interview in Abuja, SEC Director-General Dr. Emomotimi Agama stressed the importance of ethical behavior in the capital market. He said, “If you do what is not right, the SEC will bring you out to the world to say that you do not have character. The very ethics of regulating a securities market operator is based on the ‘fit and proper person’s test.’”
According to Agama, the fit and proper person’s test ensures that operators meet all requirements outlined in the Investments and Securities Act (ISA) 2007 and other SEC regulations. “Disclosures by public companies are essential to ensure investors have enough information to make decisions. Failing to provide necessary information is against SEC rules,” he said.
2025: A Year of Zero Tolerance
Dr. Agama warned that fraudulent practices would no longer be tolerated. “There is no hiding place anymore for anyone with intentions to defraud Nigerians or investors,” he said firmly.
He reassured investors that they are fully protected by SEC regulations as long as they operate within the Nigerian capital market.
“Every investor in Nigeria is under the cover of the SEC. The year 2025 is one where we say zero tolerance for any activity outside the laws of the ISA 2007,” he continued.
Agama also underscored the importance of investor protection and market development as SEC’s main priorities.
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