The Securities and Exchange Commission (SEC) on Tuesday launched its inaugural Regulator/Fintech Clinic to close regulatory gaps.
The initiative is aimed at improving engagement with Nigeria’s fast-growing financial technology (fintech) sector and strengthening regulatory oversight.
It is designed to align innovation with regulatory compliance while ensuring stronger investor protection across the country’s digital finance ecosystem.
Opening the clinic, SEC Director-General Emomotimi Agama said the initiative represents a deliberate effort by the Commission to deepen engagement with Fintech operators and close emerging regulatory gaps in one of the most dynamic segments of Nigeria’s financial system.
“This engagement reflects a deliberate step by the Commission to deepen dialogue between the regulator and the FinTech sector,” Agama said.
Nigeria has emerged as a leading innovation hub in Africa, with FinTech entrepreneurs expanding financial access, democratising investment opportunities and using technology to address structural gaps in the financial system.
Agama said that while the growth of the sector is encouraging, regulatory frameworks must evolve alongside technological advancements to maintain market stability and protect investors.
READ ALSO:
- Nigeria’s Trade Surplus Rises to ₦1.71trn in Q4
- FG Seeks Nigerians’ Views on Social Media Age Limits for Children
- FG, Japan Launch $50m Fund to Support Nigerian Startups
- PenCom Cracks Down on PFAs, Orders Immediate Reclassification of Personal Pension Contributions
- Energy, Industrial Stocks Spark ₦17.6trn Gain in February
He said, “Responsible innovation requires regulatory frameworks that are both protective and adaptable. The Clinic forms part of that continuous review process to ensure our Rules remain proportionate, responsive, and aligned with market realities.”
According to him, the SEC’s mandate to protect investors, ensure fair and transparent markets and facilitate capital formation remains fully compatible with technological innovation.
Agama stressed that clarity, predictability and trust are critical conditions for sustainable innovation within the financial system.
He noted that since 2018, the Commission has taken steps to support technological innovation in Nigeria’s capital market, including establishing a dedicated fintech department, adopting innovation facilitators and drafting fintech-focused rules.
He cited that the recent enactment of the Investments and Securities Act 2025 has further strengthened the Commission’s capacity to regulate emerging digital products and platforms while enhancing investor protection.
According to Agama, the clinic is expected to serve three key purposes: providing clarity on the regulatory landscape under the new Act, engaging directly with fintech operators on common compliance pitfalls and reinforcing the importance of legitimacy in building sustainable businesses.
“FinTech business models often evolve faster than regulatory frameworks.
“Early dialogue prevents costly missteps. Compliance embedded at the design stage is far more effective than corrective measures after market entry,” Agama maintained.
He urged industry stakeholders to see the clinic as a collaborative platform for engagement rather than a confrontational forum.
Agama also highlighted developments in the digital financing ecosystem, including the Commission’s 2021 crowdfunding framework and ongoing reviews aimed at strengthening capital formation while maintaining investor protection.
He stressed that regulatory clarity is particularly important for retail investors who may not fully understand the complexities of digital financial products.
“As we launch this inaugural Clinic, our goal is to align innovation with integrity, growth with governance, and technology with trust,” Agama added.
On his part, SEC Executive Commissioner for Operations Bola Ajomale said digital assets have captured the interest of many young Nigerians, describing the sector’s future as promising.
He added, “We believe that the responsibilities we have and everyone has as players, it must grow in complement with the enthusiasm. There are some risks emerging and some that have been there are heightened including unregistered investment platforms among others.
“We continue to ensure we protect investors, ensure a fair and efficient market and facilitate capital formation. We have taken more than 500 firms to understand how they are evolving and what they are bringing to the market. That is why we are engaging the players to understand what they are bringing to the market and then to set up a framework where we can regulate them.”
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
