SEC grants first fintech license to Chaka


SEC grants first fintech license to Chaka

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The Securities Exchange Commission of Nigeria (SEC) has granted Chaka, a digital investment platform, license as Digital Sub-Broker/Sub-Broker Serving Multiple Brokers through a Digital Platform.

This makes Chaka the first recipient of this newly created license by the SEC, which is in line with the Commission’s efforts to foster regulation within the investment-tech space and   to ensure the safety of the investing public while encouraging innovation within the sector.

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Commenting on the new license acquisition, Tosin Osibodu, Co-founder & Chief Executive Officer, Chaka Technologies said:   “We are honoured to be the foremost fintech company to receive SEC’s first Fintech license in Nigeria, the Digital Sub-Broker license. 

For us, this is an important step towards achieving our vision to level the playing field for African investors, and a defining moment for the future of digital…

Source: Vanguard Newspaper