Fintech Association Partners SEC On RoadMap For The Nigerian Capital Market

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Fintech Association Partners SEC On RoadMap For The Nigerian Capital Market

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The Securities and Exchange Commission (SEC) and the Fintech Association of Nigeria has announced partnership aimed at transforming the Nigerian capital market with financial technology solutions.

 The Fintech Association of Nigeria is an umbrella body that brings together the various organisations in the financial technology space in Nigeria. Its goal is to be a forum for the exchange of ideas and dissemination of information by and between various stakeholders in the Nigerian financial services industry.

Highlights – Mary Uduak 

  • It is high time regulators and players in the sector embrace fintech
  •    I believe that the blend of our membership of the Fintech Association of Nigeria will help regulators in the capital market accelerate a market-led change that is not only inclusive but is able to bridge the gap in knowledge, capacity, competence and adoption; all working together to ensure that no one is left behind.
  • The proposed partnership between the two bodies will help usher in a new era in the Nigerian capital market and empower the industry to take on threats and opportunities in such a way that market led regulation ushers in a period of growth, global benchmarking and opportunities for better integration with the

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In a statement made available to BusinessDay, the Fintech Association of Nigeria disclosed that its partnership with SEC will bring transformation in Nigeria’s capital market as players are exposed to first hand taste of best practices across the globe.

 “Development of appropriate technology roadmap for the capital market, collaboration and partnership with the appropriate association like FintechNGR as well as appropriate regulation for startup innovation in the market is vital to the market’s response to the fourth industrial revolution demands,” Segun Aina, president of FintechNGR said during a courtesy visit to the acting director general of SEC, Mary Uduak.

 The association noted that with technology evolving so rapidly and changing the business landscape, regulators must be very proactive in harnessing the benefits of innovation.

 Ade Bajomo, executive director of Access Bank Plc and vice president of FintechNGR added that the commission appears well informed on the gaps and needs of the market in relation to financial technology in general and capital market regtech specifically and the meeting of itself offered an opportunity to deal with the issues in a manner that ensures all stakeholders are carried along.

 “It is high time regulators and players in the sector embrace fintech,” Mary Uduak said.

 “I believe that the blend of our membership of the Fintech Association of Nigeria will help regulators in the capital market accelerate a market-led change that is not only inclusive but is able to bridge the gap in knowledge, capacity, competence and adoption; all working together to ensure that no one is left behind.”

 The proposed partnership between the two bodies will help usher in a new era in the Nigerian capital market and empower the industry to take on threats and opportunities in such a way that market led regulation ushers in a period of growth, global benchmarking and opportunities for better integration with the wider economy.