SEC to launch USSD Code, ISA audio platform

The Securities and Exchange Commission (SEC) is set to unveil two new digital tools, a USSD service and an ISA Audio platform, in a move aimed at deepening access, enhancing investor engagement and broadening market inclusion across Nigeria’s capital market.

The Commission disclosed that the products will be officially introduced at the fourth-quarter Capital Market Committee (CMC) meeting scheduled for December 8, at the Federal Palace Hotel, Victoria Island, Lagos. The customary media briefing is expected to follow on December 9.

According to the SEC, the new services mark a significant step toward democratising information flow in the market, particularly for retail investors who rely on simplified, user-friendly channels.     

The USSD platform is expected to bring basic capital market services to mobile devices without internet connectivity, while ISA Audio will provide accessible, audio-based investor education content.

Beyond the product launch, the upcoming CMC will interrogate several critical issues shaping the sustainable evolution of Nigeria’s capital market. Discussions will spotlight global macroeconomic conditions and their spillover effects on domestic financial markets, as well as the rising importance of cross-border financial integration within Africa.

The Commission said the meeting will also focus on unlocking pension fund investments, boosting market liquidity, and stimulating innovation through targeted regulatory reforms.

A major segment of the agenda will be dedicated to assessing the progress of the Capital Market Master Plan (CMMP), including a comprehensive review of milestones delivered since inception and the formal sunset of the 2025 CMMP. Stakeholders will also begin outlining the strategic foundation for the next phase, the 2030 CMMP.

In addition, participants will examine Nigeria’s recent tax reform legislation and its implications for capital market efficiency, competitiveness, and investor confidence.

“The collective thrust of these discussions underscores the Commission’s strategic resolve to reposition the Nigerian capital market as a catalyst for inclusive and sustainable economic growth, aligned with national development priorities and global best practices,” the SEC stated.

The CMC, an industry-wide body comprising the SEC, market operators, trade groups and other stakeholders, serves as a central platform for policy dialogue, idea exchange and collaborative problem-solving across the market ecosystem. It was created to enhance stakeholder feedback and support continuous improvement of market operations and regulation.

This quarter’s meeting is expected to attract CEOs of all registered capital market firms, including brokerage houses, investment advisers, custodians, and fund/portfolio managers.

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