Regulatory Alerts2021-05-18
SEC Regulatory Incubation Guidelines for Specific Category of Fintech Entrepreneurs
The Securities and Exchange Commission (SEC) Nigeria has established a regulatory incubation framework to allow fintech firms to offer innovative capital market services under limited, prescribed conditions for a maximum period of one year. Applicants must meet specific pre-qualification criteria, including technical innovation, a clear implementation plan, and compliance with anti-money laundering and consumer protection standards. Upon expiration of the incubation period, participants are required to either apply for formal registration or formally discontinue operations.
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