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ARTICLE · 13 MARCH 2026

SEC Revises Minimum Share Capital Requirements

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The Securities and Exchange Commission (SEC), pursuant to its powers under the Investments and Securities Act, 2025, has issued Circular No. 26-1 dated 16 January 2026, revising the Minimum Capital Requirements applicable to all regulated capital market entities in Nigeria.

NigeriaCorporate/Commercial Law
Gbemisola Mosuro
Gbemisola Mosuro
Ruth Efeoghene
Ruth Efeoghene
Opeyemi Adekanye
Opeyemi Adekanye

The Securities and Exchange Commission (SEC), pursuant to its powers under the Investments and Securities Act, 2025, has issued Circular No. 26-1 dated 16 January 2026, revising the Minimum Capital Requirements applicable to all regulated capital market entities in Nigeria.

The revision is aimed at strengthening market resilience, enhancing investor protection, aligning capital adequacy with evolving market risks, and supporting innovation, including digital assets and commodities markets.

Key Highlights of the Revision

  • Significant upward review of minimum capital thresholds across almost all categories of market operators.
  • Expansion of coverage to FinTechs, Virtual Asset Service Providers (VASPs), and commodity market intermediaries.

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