Capital Market Operators Get November 5 Deadline to Submit Cybersecurity Risk Assessment Reports

By Aduragbemi Omiyale

The Securities and Exchange Commission (SEC) has directed capital market operators in Nigeria to submit their cybersecurity risk assessment reports on or before Thursday, November 5, 2026.

This directive was contained in a circular signed by the regulator, which said the action was to “strengthen cybersecurity risk management and resilience across the financial sector.”

The reports are needed to facilitate an effective assessment of cybersecurity risks across the financial sector.

“All CMOs are required to complete the assessment form on the Cybersecurity Module on the Commission’s e-Portal on or before November 05, 2026.

“All affected entities are required to ensure that their submissions reflect their current cybersecurity risk profiles,” the commission stated.

The risk assessment is being conducted through the Inter-Agency Cybersecurity Technical Working Group of the Financial Services Regulation Coordinating Committee (FSRCC).

The initiatives include developing a strategic cybersecurity risk management framework for the financial sector; conducting a sector-wide cybersecurity risk assessment; identifying cyber threats and vulnerabilities, including emerging risks; developing and promoting appropriate cybersecurity frameworks, standards and guidelines; promoting effective information sharing among financial sector regulators, financial institutions, law enforcement agencies, critical infrastructure operators and other relevant stakeholders; and strengthening coordination and response mechanisms for significant cyber incidents affecting the financial sector.