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Expertise
On the 16th of January 2026, the Securities and Exchange Commission ("SEC" or the "Commission") issued a circular pursuant to its statutory mandate under the Investments and Securities Act, 2025, revising the minimum capital requirements applicable to all categories of regulated capital market entities in Nigeria.
Introduction
On the 16th of January 2026, the Securities and Exchange Commission ("SEC" or the "Commission") issued a circular pursuant to its statutory mandate under the Investments and Securities Act, 2025, revising the minimum capital requirements applicable to all categories of regulated capital market entities in Nigeria.
The review is informed by the Commission’s objective to strengthen market resilience, enhance investor protection, align capital adequacy with the evolving risk profile of capital market activities, and ensure that regulated entities possess sufficient financial capacity to discharge their obligations in a sustainable manner.
Scope of Application
The Circular applies broadly to all entities regulated by the SEC, including but not limited to:
Core and Non-core capital market operators.
Market Infrastructure Institutions.
Capital Market Consultants.
Financial technology (FinTech) operators.
Virtual Asset Service Providers (VASPs); and
Commodity market intermediaries.
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Important Notice: The information contained in this Article is intended for general information purposes only and does not create a lawyer-client relationship. It is not intended as legal advice from Jackson, Etti, & Edu (JEE) or the individual author(s), nor intended as a substitute for legal advice on any specific subject matter. Detailed legal counsel should be sought prior to undertaking any legal matter. The information contained in this Article is current to the last update and may change. Last Update: October 1, 2024.
