Blockchain will aid capital market regulation — SEC DG

The Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama has emphasized that the deployment of blockchain technology will improve efficiency and aid the regulation of the capital market.
Agama stated this during a session with a delegation from Algorand Foundation, at the Commission’s headquarters in Abuja.
The SEC, in a statement, stated that blockchain is a decentralized system that enhances trust and security by allowing multiple parties to independently verify and validate transactions without needing a central authority.
Furthermore, the SEC DG said the commission is consistently aligning with international best practices by collaborating with global regulatory bodies such as the International Organization of Securities Commissions (IOSCO), adding that this ensures that the commission’s regulatory framework remains robust, adaptive, and aligns with global standards, enabling cross-border collaboration and fostering investor confidence.
According to him, in this era of technological innovation, the question is not whether Africa will adopt blockchain, but how it will shape its adoption to maximise its benefits for all the people.
“We want to activate the blockchain in our efficiency; we want to be able to use it to regulate our market. My dream is to have all of the information we need to do our work in a blockchain. We want to bring technology into our system for effectiveness where we can work seamlessly and everything that we do will be traceable
“So wherever there is a toxin in the blockchain we will find it and deal with it. We will extend it to the point where review of applications will be done on the blockchain so whoever drops the ball will be seen. Each transaction is grouped into a block, and these blocks are linked together in a chronological chain. This structure ensures that once information is added to the blockchain, it cannot be altered or deleted, providing a transparent and tamper-proof record” Agama said.