On 16th January, 2026, the Securities and Exchange Commission
(“SEC”) issued Circular No. 26-1 on the Revised Minimum
Capital Requirements (the “Circular”) applicable to
regulated capital market operators, including Virtual Asset Service
Providers (“VASPs”) and Fintech operators. The Circular
was issued by the SEC pursuant to the Investments and Securities
Act, 2025, and is aimed at strengthening market resilience,
enhancing investor protection, and aligning capital requirements
with the evolving risk profile of digital asset activities and
Fintech operators in the Nigerian capital markets. We have set out
below the revised minimum capital requirements and related
matters.
Revised Minimum Capital Requirements for VASPs and Fintech
Operators
