SEC Cuts Approval Time to 14 Days, Boosting Capital Market Efficiency
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The Securities and Exchange Commission (SEC) has significantly shortened the approval process for companies seeking to raise capital, reducing the time to market from over a year to just 14 days.
SEC Director-General, Dr. Emomotimi Agama, highlighted this achievement during an interview in Abuja, emphasizing that the move aims to make Nigeria’s capital market more efficient and supportive of economic growth.
“Since we came on board, we have propelled the economy by addressing a major challenge—issuers previously had to wait an extended period before receiving approval. Now, we have cut that down to just two weeks,” Agama stated.
Banking Recapitalization and Market Impact
The director-general also noted the success of the banking recapitalization exercise, through which banks raised over N2.2 trillion from the Nigerian capital market via the e-offering platform. He assured that issuers faced no significant delays, as the SEC implemented efficient mechanisms to process applications swiftly.
With this streamlined approach, the SEC aims to further strengthen Nigeria’s capital market, ensuring it remains a key driver of economic development.
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