By GINIKA OKOYE

The Securities and Exchange Commission (SEC) has fixed January 31 as deadline for registration renewal of all Capital Market Operators (CMOs).

The commission said in a circular issued to the operators on Sunday in Abuja.

It said the annual registration renewal would last between January 1 and 31.

The apex capital market regulator said the annual registration renewal enforcement for CMOs was aimed at ensuring that only ?fit and proper? persons operate in the capital market.

It further said that CMOs without valid registration would be penalised and may be excluded from capital market activities.

?This is to inform all CMOs and the general public that the annual renewal of registration of CMOs for the year 2025 will commence from January 01.

?All CMOs applying for renewal are required to include their 2025 annual subscription receipt from their respective trade groups as part of their application.

?In line with the commission?s Rules & Regulations, all CMOs are to complete the process of renewal of registration for 2025 on or before January 31 via registration renewal portal at www.eportal.sec.gov.ng,? it said.

The commission added that CMOs desiring to make enquiries or get support to complete the process should contact registration@sec.gov.ng.

The regulator said it had in 2021 re-introduced periodic registration renewal by CMOs to create a reliable active operators? data bank in the country?s capital market.

It said the renewal arrangement aimed at updating operators? information on capital market for official use by local and foreign investors, other regulatory agencies and the public.

The commission added that the renewals would drastically reduce incidences of unethical practices by CMOs which may affect investors? confidence and impact the capital market negatively.

According to SEC, the exercise will strengthen supervision and monitoring of CMOs by the commission. (NAN)

Update news