By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigeria’s Securities and Exchange Commission (SEC) has introduced an Electronic Filing System for market operators scheduled to commence from the first quarter (Q1) of 2014.

According to SEC, the system would require all capital market operators to submit their quarterly returns electronically commencing from Quarter 1, 2014.

SEC said the quarterly return forms have been re-engineered for this purpose and the new system is essentially the completion of an excel-based template which operators are required to send along with relevant schedules and documentary evidence(s) to dedicated email addresses.

The Commission said all capital market operators that have provided their official email addresses to the Commission will be sent an information update form by 31st December 2013 , ‘’you are expected to submit the completed form before January 31, 2014. If you do not receive the form by 31st December 2013 please send a mail to the addresses below or call the number provided.

SEC further affirmed that the new quarterly returns template would be available for download from the SEC’s website from February 1, 2014. An instruction manual would also be made available to guide users through the e-filing process.

‘’The stipulated guidelines on submission of quarterly returns still apply, thus, your returns are expected within the period of grace (See SEC Rule 51 1 (a) & (c). Please note that hard copies of your quarterly returns will not be accepted at the Commission from Quarter 1, 2014. We expect strict compliance with this directive,’’ the Commission said.