Mr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), believes that the recent approval-in-principle granted to two cryptocurrency exchanges will increase youth participation in Nigeria’s capital market.…..For More READ THE FULL ARTICLE HERE ▶▶...CLICK HERE TO CONTINUE READING.>>
The SEC’s approval of Busha Digital Limited and Quidax Technologies Limited is seen as a strategic move to align with President Bola Tinubu’s vision of empowering the country’s youth.
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Agama emphasized that this development will provide opportunities for young Nigerians to engage with the capital market, fostering financial inclusion and promoting economic growth.
His words: “A lot of young Nigerians are involved in digital assets. It is essential to include them in the capital market rather than exclude them. We are ensuring that proper regulations are in place to protect investors and encourage participation”
“The idea behind the Regulatory Incubation Programme is to observe and evaluate these companies in real-time. By doing so, we can understand the risks they pose, not only to investors but also to the broader financial system. It is important that they meet the necessary regulatory guidelines before full approval is granted”
“We don’t want to stifle innovation. However, we must regulate these platforms to ensure they contribute positively to our economy without causing chaos. The SEC’s primary responsibility is to protect investors and promote market development.
“In addition to encouraging youth participation, the SEC’s approval of digital exchanges is expected to build greater confidence in Nigeria’s capital market, which has struggled to attract younger investors. The regulatory incubation will allow the SEC to guide these exchanges and ensure they operate in line with international best practices”…..For More READ THE FULL ARTICLE HERE ▶▶
