SEC to intensify surveillance, crackdown on Ponzi scheme, operators

Securities and Exchange Commission (SEC) has vowed to intensify crackdown on Ponzi scheme operators to protect investors and ensure legitimate investment opportunities thrive in 2025.

Director General of SEC, Dr Emomotimi Agama, stated this in a New Year’s message to the capital market community at the weekend, stressing that the commission would focus on key initiatives that would deepen market integrity, enhance investor confidence and drive economic growth this year.

According to him, because the SEC is positioned with a dual mandate of regulating and developing the capital market in Nigeria, its top priority in 2025 will cut across the dual responsibilities.

“For us, mainstreaming the Nigerian capital market into the economy is very vital. Enforcement is the backbone of effective regulation. We are revamping our investigative processes to enhance efficiency and hold bad actors accountable more decisively.

“Insider trading undermines activities and dampens market fairness. By revising our regulatory framework, we aim to strengthen detection, prevention and accountability mechanisms.

“Transparency is at the heart of investor confidence and capital markets. We will introduce measures to ensure greater visibility and trust in securities transactions,” he said.

The DG disclosed that the commission would enhance the operations of the Investments and Securities Tribunal (IST) to make it more effective in delivering timely resolutions of disputes in the market.

Agama also stated the Commission was strengthening the legal framework of the commodities market to enable it to attain its full potential of aiding economic development.

“The commodities market is indeed a major area of interest for us at the SEC. Nigeria is purely an agrarian nation and as such, taking that comparative advantage to the next level is something that the SEC is proud to be a part of.

“It is a vital part of Nigeria’s economy. This year, we will focus on reinforcing the legal and regulatory structures that support growth so we can create a solid foundation for the vibrant commodities ecosystem. Be it a soft commodity or a hard commodity.

“More so, when we have a plethora of commodities all over Nigeria, the SEC, as a partner in development, will make sure we will make the difference,” he stated.

The SEC DG said the initiatives were part of the Commission’s efforts to create a stronger and more inclusive capital market that would sustain investors’ confidence in 2025.

“As we embark on this journey, I invite all stakeholders to work with us in achieving these goals. Together, we can unlock the potential of the Nigerian capital market and make this a defining year for our economy,” he said.