Market Review: Nigeria Needs An Open Regulatory Sandbox Framework
This edition of the "Market Review" features Mr. Seyi Owotoro the President and Chairman of Council, The Institute of Capital Market Registrars, ICMR as he speaks on "Leveraging Technology for a Competitive Market".
According to him technology and innovation has transformed the operations of the Global and Nigerian capital market ecosystem and has come to the level where products and brokerage services should be accessed through mobile phones and gadgets.
He believed it was time for the operators in the Nigerian market to fully adopt technology in their operations, as the digital sub-broker license that was awarded recently to Fintechs like Chaka, will boost innovation in the market.
Mr. Owotoro made a strong case for a transparent operation of the sandbox framework, that is designed by regulators for Fintechs in the country. He said in the United Kingdom, the Financial Conduct Authority, FCA has an open transparent sandbox framework that has spurred innovation in the British financial and capital market.