The Securities and Exchange Commission Nigeria (SEC) has cautioned fintech operators that while technology can expand access to investment opportunities, it also has the potential to magnify risks if not properly managed.

While speaking at the first biannual SEC Regulator–FinTech Clinic, Rabi Maidawa, fund authorisation officer at the commission, said technology-driven platforms do not eliminate risk in investment but can amplify it when systems are poorly designed.

“Technology does not eliminate risk in investment; it amplifies it. A single design flaw on a platform, such as a data integrity issue, can spread quickly across the investor ecosystem,” Maidawa said.

Regulators and industry stakeholders at the forum stressed the need for stronger compliance frameworks as digital finance continues to evolve across Nigeria’s financial ecosystem.

Muhammad Jiya, chief operating officer for emerging technologies and innovation at the Nigerian Financial Intelligence Unit (NFIU), noted that digital assets and technology-driven financial services are creating new channels for financial crime.

According to him, operators must ensure that compliance programmes are embedded within their platforms from the early stages of development.

“Digital assets and technology-driven financial services also present new actors for financial crime. As operators, compliance programmes should be embedded into your systems,” Jiya said.

Industry experts also advised fintech founders to engage regulators early when developing new products.

Nelson Ikeagu, a regulatory expert, said pre-launch engagement with regulators is essential for innovators whose products may not clearly fall within existing regulatory frameworks.

“Pre-launch dialogue is important for operators because it helps provide guidance on what regulators expect,” he said.

He added that startups developing innovative products that do not fit neatly into existing regulations, such as those overseen by the Nigerian Communications Commission (NCC) should consider applying for regulatory sandbox programmes to obtain guidance while testing their solutions.

“Operators that adopt higher compliance standards are better positioned to navigate the regulatory environment,” Ikeagu noted.

Ismaila Muhammad, an IT professional who spoke at the event, also advised fintech founders to treat their platforms as regulated entities and ensure they do not become conduits for illicit financial activity.

“You are still an entity even if you are a tech company. Ensure that money launderers do not infiltrate your business. Proper registration with the SEC and adherence to regulatory requirements are essential,” he said.

While delivering remarks on the commission’s regulatory approach to fintech, Jameelah Sheriff-Ayedun said the SEC was among the first Nigerian regulators to formally institutionalise collaboration with fintech companies.

According to her, the commission introduced a regulatory incubation programme to provide innovation-friendly supervision while maintaining market integrity.

“The regulatory incubation programme provides innovation-friendly supervision. The SEC has also played an active leadership role in the regulators’ forum,” she said.

She noted that between 2020 and 2022, the commission moved early to support emerging fintech models, including crowdfunding, robo-advisory services, tokenisation, and digital assets.

However, Sheriff-Ayedun acknowledged that several structural challenges remain in Nigeria’s fintech regulatory environment. These include complex multi-regulator oversight, overlapping mandates among agencies, and prolonged licensing timelines.

She also pointed to operational clarity gaps in areas such as digital assets and decentralised finance (DeFi).

Beyond regulation, she said the industry still faces significant market and capacity gaps, including shortages of skilled talent in compliance, cybersecurity, and artificial intelligence, as well as limited investor education and barriers to broader retail capital participation.

Other challenges include the limited depth of early-stage capital available to support fintech innovation in the country.

First Asset Management investment management rating just got an upgrade to ‘AA’ from ‘AA-’ by DataPro and affirmation of A+(IM) by Agusto & Co. This reflects how we are continuously improving to serve our investors better. Our funds levelled up too as Agusto & Co upgraded our First Asset Money Market Fund rating to A+ (f) (up from Aa‑(f)).

What its means for customers

It means you are investing with a firm that is getting stronger, smarter, and more disciplined. Our upgraded rating recognizes our solid performance track record, the strength of our parent financial group, and the systems we have put in place to manage investments responsibly.

We have also improved our governance and decision-making structure, with experienced professionals leading well-defined investment and risk committees. Behind the scenes, our team of seasoned investment experts constantly monitor markets, manage risks, and position portfolios to navigate volatility and capture opportunities.

At the same time, we have strengthened our risk management and compliance framework to ensure that everything we do meets global best practices. In simple terms, it means your money is being managed with discipline, transparency, and strong oversight.

Independent rating agencies — Agusto & Co and DataPro Limited recognize these improvements. Their ratings highlight our commitment to responsible asset management, strong governance, and operational systems designed to support stable long-term performance.

But beyond the ratings, what really matters is helping you build wealth over time.

That is why we offer a range of investment plans designed for different goals — whether you are just starting your investment journey, looking to grow your portfolio, or aiming to build long-term financial security.

If you are part of the next generation of investors, this is your moment to start early and stay ahead. The earlier you begin investing, the more time your money has to grow.

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By Matthew Anthony, Senior Market Analyst- Africa

Oil prices spiked to just above $120 over the weekend as escalations of the Israel -US-Iran war intensified, with key energy installations targeted.

FXTM

As a result, major oil suppliers are due to meet shortly to open the tap of their strategic reserves. Another contributor to the hike in oil prices has been the effectual closure of the strait of Hormuz (where 20% of the world’s oil supply goes through).

Major oil producing nations like Nigeria may profit from this conflict provided they are able to put a lid on inflation- a major consequence from rising oil prices-and use the windfall for critical budget needs while preparing for potential market shocks.

Outside of Nigeria, a wave of risk aversion engulfed global markets on Monday as ongoing conflict in the Middle East accelerated the flight to safety.

Asian shares plunged, European markets opened deep in the red while US equity futures signaled to a negative open as investors scrambled to price the chaos from the Iran conflict.

In the commodity space, oil prices jumped over 25% as major Middle East producers curbed output. Brent has gained roughly 30% this month, pushing 2026 gains to over 70% while WTI crude is up almost 80% year-to-date as of writing.

The last time oil benchmarks crossed into triple digits was back in 2022 during the Russian-Ukraine war. And for most it’s still a painful memory as geopolitical risk and covid-19 supply disruptions caused inflation to skyrocket across the globe.

In the FX space, the dollar remains supported by safe-haven demand along with the Swiss franc. However, the star performer is the Canadian Dollar which has appreciated against every single G10 currency month-to-date thanks to its sensitivity to oil markets.

Gold ended last week in losses despite the risk-off sentiment and overwhelming disappointing NFP report. Non-farm payrolls slid by 92,000, representing the biggest monthly decline in payrolls since October 2025, while the unemployment rate rose to 4.4%.

However, gold remains locked within a daily range thanks to a broadly stronger dollar and inflationary risks revolving around the conflict in the Middle East. Surging energy prices have sparked inflationary fears, forcing markets to reassess the possibility of lower interest rates.

Traders are pricing a 50% chance that the Fed cuts rates twice in 2026. The February CPI and January PCE index, which is the Fed’s preferred inflation gauge – may offer crucial insight into the path of price pressures.

Should the incoming inflation data further shave Fed cut bets, the dollar could strengthen – enforcing fresh pain on precious metals. Looking at the charts, a weekly close below $5000 may signal a steeper decline. Bulls could still fight back if $5000 proves reliable support.