By Chinwendu Obienyi
The Securities and Exchange Commission (SEC) has granted the digital sub-broker licence to Chaka Technologies Limited.
This makes Chaka the first recipient of this newly created licence by the SEC, as part of the Commission’s efforts to foster regulation within the investment-tech space, to ensure the safety of the investing public while encouraging innovation within the sector.
Speaking to Daily Sun via telephone chat, the commission’s spokesperson, Efe Ebelo, said: “Yes, it is true, the SEC has granted Chaka Technologies the licence to trade amid the ever evolving landscape in digital trading”.
Commenting on the new license acquisition, Tosin Osibodu, Co-founder & CEO, Chaka Technologies said the firm is honoured to be the foremost fintech company to receive SEC’s first Fintech licence in Nigeria, the digital sub-broker licence.
He noted that this is an important step towards achieving Chaka’s vision to level the playing field for African investors, and a defining moment for the future of digital investments in Nigeria, and Africa at large.
Osibodu stated that the new license will enable the digital firm to continue to power on its mission to enable digital investing for businesses and individuals in the country and beyond.
“As Nigeria remains an attractive hive for fintech innovation, this new license from the SEC is the much-needed guide to help safeguard the investing public amid the ever-evolving landscape.