The Securities and Exchange Commission (SEC) has formally announced an increase in minimum capital requirements for all categories of capital market operators (CMOs).
In a Friday circular, the SEC stated that the need to improve investor protection and market resiliency was the driving force behind the upward review.
According to the SEC, the review reflects the need for stronger, better-capitalised operators that can withstand market shocks and support sustainable market development.
Under the new policy, the capital base for tier 2 “issuing houses with underwriting” is now N7 billion — up from N200 million, while that of trustees was increased to N2 billion from N300 million.
Similarly, trustees are now required to maintain a minimum capital requirement of N2 billion, up from N300 million.
The commission said the new requirements will apply across all categories of market operators, with affected firms expected to meet the revised thresholds before the June 2027 deadline.
More details to follow soon…
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