SEC Issues Digital Broker Licence to Bamboo

The Nigeria Securities and Exchange Commission has issued a broker licence to Bamboo SSEC issues digital broker licence to Bambooystems Technology Limited.

The firm, in a statement on Thursday, said the licence would permit it to carry out tasks in the Nigerian capital market and include Nigerian securities on its platform.

Bamboo further disclosed the licence obtained would also allow expansion of its relationships with financial service providers to offer its Application Programming Interface services.

“SEC’s issuance of the licence to Bamboo ensures oversight of the relationship with its sponsoring broker, Lambeth Capital, while also empowering it to enter into partnerships with multiple brokers to serve its clients,” the statement disclosed.

The online brokerage firm disclosed it has been providing the best technology solutions, backed by industry best practices, to allow Nigerian retail investors to access an unprecedented number of digital securities to build long-term wealth.

The Chief Executive Officer and Co-founder of the firm, Richmond Bassey, described the success as a great turnaround and ensure it will continue in its committed obligations.

“We are thrilled to reach this important milestone and are fully committed to our obligations as registered digital brokers.

“We are grateful for our collaboration with the SEC, which has shown its dedication to protect investors while allowing for innovation to flourish,” he said.

Bamboo is an online brokerage app that allows Africans to invest in real-time in local and foreign asset classes.