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ARTICLE · 27 JUNE 2025

New Private Equity Rules In Nigeria – New Updates

Balogun Harold Legal
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In April 2025, the Nigerian Securities and Exchange Commission ("SEC") introduced material amendments to its private equity regulations.

NigeriaFinance and Banking
Olubunmi Abayomi-Olukunle
Olubunmi Abayomi-Olukunle
Adekunle Adewale
Adekunle Adewale

In April 2025, the Nigerian Securities and Exchange Commission ("SEC") introduced material amendments to its private equity regulations. For private equity fund managers, general partners (GPs), and institutional limited partners (LPs), these changes are essential for structuring private equity funds, raising private equity funds locally, and ensuring compliance with SEC regulations.

Key Changes Under the Updated SEC Private Equity Rules

1. Exemption for Small Private Equity Funds in Nigeria

Up from a threshold of ₦1 billion, private equity funds in Nigeria with a target size of ₦5 billion or less are now exempt from full SEC registration, though they must still file governing documents and obtain a no-objection from the SEC.

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