In a game-changing move for Nigeria’s capital market, the Securities and Exchange Commission has implemented a policy that enables companies to secure capital raising approval within two weeks instead of the prolonged delays that previously stretched over a year. This groundbreaking regulatory reform, announced by Director General Emomotimi Agama during a high-level press briefing, marks a historic shift in the Nigerian financial landscape. The new policy is designed to streamline the capital-raising process, reduce bureaucratic red tape, and ensure that companies can quickly access funds to fuel expansion and innovation. Once all necessary documents are complete, approval will be granted in a record 14 days. This decisive measure not only shortens the time to market for issuers but also enhances investor confidence and drives economic growth across Nigeria. Previously, companies often encountered extended delays that stifled market dynamism and hampered business operations. With the new digital infrastructure in place, including a fully digital, paperless application system and the advanced e-IPO platform provided by the Nigerian Exchange Group, companies can now navigate the capital market with unprecedented speed and efficiency. The recent success of the banking recapitalization exercise, during which banks raised over N2.2 trillion using an electronic offering platform, underscores the effectiveness of the SEC’s technology-driven approach. Emomotimi Agama stressed that the capital market is the lifeblood of any economy, and rapid access to capital is essential for maintaining market vibrancy. By reducing the time required to secure approvals, the SEC has paved the way for a more agile and competitive financial ecosystem. This reform is expected to attract both domestic and international investors, create opportunities for business expansion, and ultimately contribute to a more robust Nigerian economy. The integration of technology into regulatory processes signifies a forward-thinking approach that aligns Nigeria with global best practices in capital market management. As companies embrace this new era of streamlined approvals, they can focus on leveraging capital to drive innovation, create jobs, and stimulate economic development. This initiative reflects the SEC’s commitment to fostering a dynamic and investor-friendly market environment, ensuring that Nigeria remains at the forefront of financial modernization. The transformation of the capital-raising process is a testament to the power of regulatory innovation and technological integration, setting a new standard for efficiency and transparency in the financial sector. With faster approvals and enhanced market dynamics, the Nigerian capital market is poised for a period of accelerated growth and increased competitiveness on the global stage.
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