Fintech: No investor will lose funds, SEC assures

The Securities and Exchange Commission (SEC) has restated its commitment to investors’ protection, especially with the increasing use of fintech.

In a statement in Abuja on Sunday, its Director-General, Dr Emomotimi Agama, said the commission would enforce regulations in the fintech ecosystem.

He noted that this would help to curb mismanagement of funds and align operators with existing rules.

Agama said a regulatory environment that was conducive for the innovative use of technology was essential in the drive to transform the country.

According to him, it is time for fintech operators to be held to the rules of the capital market when it comes to fund-raising.

”While these trends bring new opportunities, they also come with challenges, particularly around regulation and investor protection.

”The digital age has transformed the investment landscape, offering greater accessibility, innovation, and opportunity.

”Investors must adapt to this evolving environment by embracing technology, seeking knowledge, and making responsible investment choices.

“The future of investment in Nigeria will likely be driven by the continued rise of technology, young investors, and evolving financial products,” he said.