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The Securities and Exchange Commission (SEC) has announced the successful mobilisation of approximately N1.682 trillion through electronic offering (e-offering) in the ongoing bank recapitalisation initiative.
This groundbreaking milestone was achieved through 12 applications submitted by nine banks, with additional applications still under review.
The Director General, Dr. Emomotimi Agama, made this revelation during the recently concluded Chartered Institute of Stockbrokers Conference in Ibadan, Oyo State.
He attributed the accomplishment to the SEC’s adoption of cutting-edge technological solutions, specifically the launch of its e-offering platform, which streamlined the capital-raising process and attracted a broader pool of investors.
“Technology has proven to be a critical enabler in the capital market, driving efficiency, transparency, and investor participation,” Dr. Agama stated. “The N1.7 trillion raised underscores the transformative power of our e-offering platform.
Beyond this, we are leveraging technology for market surveillance, regulatory compliance, and policy implementation to foster a more robust capital market,” the SEC boss added.
He further emphasised the Commissiom’s commitment to enhancing market efficiency through various reforms, including the introduction of electronic filing systems, streamlined registration procedures, and strengthened regulatory frameworks.
These measures, he noted, have reduced the time to market, improved liquidity, and bolstered investor confidence in the Nigerian capital market. Dr. Agama reiterated the pivotal role of the capital market in achieving President Bola Tinubu’s ambitious $1 trillion economic growth agenda.
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