Capital market experts have called on registrars to accelerate the full digitalisation of their operations to enhance efficiency, transparency, and investor confidence in the market.
At the 14th yearly Conference and Presidential Investiture of the Institute of Capital Market Registrars (ICMR), held in Lagos, experts and market leaders emphasised the urgent need for registrars to modernise their processes through end-to-end technological transformation.
Speaking on the theme: “Unlocking Global Value: The Evolving Role of Capital Market Registrars in Trust, Efficiency and Innovation,” they pointed out that registrars occupy a pivotal role in the capital market, serving as the trusted record-keepers and intermediaries between issuers, investors, and regulators.
According to them, this is in addition to their role of maintaining shareholder registers, processing corporate actions and ensuring accurate investor mandates.
They argued that these responsibilities formed the backbone of market integrity and investor confidence and as such, their ability to adopt cutting-edge digital systems is seen as crucial to sustaining the credibility and growth of Nigeria’s capital market.
The participants noted that the role of registrars is evolving rapidly in an increasingly digital financial landscape. With the volume of transactions and the complexity of investor data growing exponentially, traditional manual and paper-based systems are no longer adequate.
They maintained that registrars must now build robust technological infrastructure capable of collecting, managing, and delivering real-time data seamlessly to issuers and investors.
By so doing, they would not only safeguard market integrity but also ensure that Nigeria’s capital market keeps pace with global standards.
Managing Director of Emerging Capital, Dr Oluwatoyin Sanni, underscored the importance of embracing innovation as a strategic differentiator.
She explained that registrars must lead the digital transformation of the market through automation, blockchain technology, and data-driven solutions that enhance accuracy and operational speed.
According to her, a registrar that combines trust, efficiency, and innovation not only meets but surpasses the expectations of a modern financial ecosystem.
She also emphasised that beyond adopting technology, registrars must invest in talent and training, build cybersecurity resilience, and strengthen governance systems to protect sensitive investor information.
Sanni further called for greater collaboration among market operators. She urged registrars to partner strategically with custodians, central securities depositories (CSDs), and regulators to harmonise standards, improve cross-border transactions, and streamline operational frameworks.
By doing so, she noted, registrars would transition from being merely record-keepers to becoming strategic enablers of efficiency, investor trust, and overall market stability.
Chief Executive Officer of FBNQuest Securities, Fiona Ahimie, highlighted the importance of attracting younger generations to the capital market through innovation and technology.
She observed that while some registrars have made commendable progress in automating their operations, others still lag behind.
Ahimie stressed the need for uniformity and standardisation across the industry to ensure consistency in processes and service delivery.
She also recommended that registrars introduce tiered solutions that cater to different categories of investors, making the market more inclusive and accessible.
Managing Director of Ecobank Nominees, Adebola Adedeji, focused on the need to build trust and transparency, which she described as the foundation of a credible capital market.
She cautioned that registrar records must be accurate and free from discrepancies, as any errors can undermine investor confidence and lead to systemic inefficiencies.
Group Deputy Managing Director of Meristem Securities, Mubo Olasoko, emphasized that registrars must prioritize the digitalisation of their entire workflow to eliminate outdated legacy systems.
She pointed out that many registrars still operate with fragmented or manual data structures that hinder real-time reporting and investor communication.
Olasoko also highlighted the critical importance of data protection, noting that registrars, as custodians of sensitive investor information, must develop robust cybersecurity frameworks to prevent data breaches.
The outgoing President and Chairman of Council of the Institute, Oluseyi Owoturo, urged registrars to embrace innovation and efficiency in service delivery to strengthen trust and deepen participation in Nigeria’s capital market.
Owoturo, also the Chief Executive Officer of Coronation Registrar Limited, said the forum was designed to explore how registrars can transform their operations through technology and forward-thinking strategies to meet the demands of the future.
He said the conference reflected the need for registrars to evolve from traditional record-keepers to strategic partners shaping the future of the capital market.
