The Securities and Exchange Commission has assured stakeholders in the Digital Assets space that it is ready to provide the necessary guidance that will grow the industry, create wealth for Nigerians and lead to economic growth and development.
Director-General of the SEC, Dr. Emomotimi Agama who stated this in Lagos weekend, said the Commission is willing to be patient in ensuring that majority of interested participants are carried along.
“We need to be patient in getting everybody on board to be able to provide the guidance that is needed for us to grow this industry, we need to grow this industry together.
“Over 80 percent of our population are interested in this area and that is why the government is showing so much interest too. And if the government is interested in it, the government has a responsibility to protect the investors that will come into it,” he said.
Agama said due to the developmental role of the Commission, the SEC will develop the market while also ensuring that investors are protected.
He added that the Commission is stepping up its investor education mechanism to ensure that investors get the information they require to make informed investment decisions.
“We need to be able to educate people, to educate the citizens, to educate investors, to educate participants, because there’s something that we can take away in every investment, there’s a risk and that risk must be understood by the people.
“The SEC has a responsibility to share that information with people that whatever you intend to do, you must be aware of these risks. So when you get into it, and if for any reason, things go the other way, you know exactly that you were aware you just decided to do it. Of course, investment is about risk reward, and that risk reward is, the higher the risk, the sweeter the reward, the lower the risk, the less the reward” he stated.
He said the SEC Nigeria’s approach to Digital Asset Regulation recognises the potential of blockchain and digital assets to revolutionize the capital markets and that is why the Commission has introduced several measures to ensure that these innovations are harnessed responsibly.