The Securities and Exchange Commission (SEC) has announced its commitment to supporting Small and Medium Enterprises (SMEs) in offering shares to investors via online platforms. This initiative will enable investors to gain equity and actively participate in the growth and profits of these businesses.
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Delivering a goodwill message at the 2024 National MSME Conference, Agama noted that the theme, “GROW Nigerian: Sustaining a Digital and Innovation-Driven Economy,” encapsulates an essential dialogue that is both timely and transformative, setting the stage for a prosperous economic future.
Represented by the Executive Commissioner, Corporate Services at the commission, Mrs Samiya Hassan Usman, Dr Agama said the SEC’s 2021 guidelines for crowdfunding outlines registration, operation and reporting requirements for equity crowdfunding platforms.
These platforms, he said, must be registered with the SEC and comply with regulatory standards, including proper record-keeping.
“Additionally, the SEC has established investment limits to protect retail investors, which may vary based on their net worth or income.
“As the apex regulator of the capital market, the Securities and Exchange Commission is committed to fostering a conducive environment for MSMEs to access capital, scale their businesses, and leverage financial technology for growth.
“By providing transparent, secure, and innovative financial instruments, we aim to empower these enterprises to thrive in the digital age and contribute meaningfully to Nigeria’s long-term economic prosperity,” he added.