Nigeria’s Securities and Exchange Commission (SEC) has given capital market operators a six-week deadline to submit board-approved recapitalization or license downgrade plans, reinforcing its sweeping reform of the industry.
The directive was disclosed in the revised minimum capital guidelines issued by the Commission on March 18, 2026.
The move signals a major shift in regulatory expectations, compelling operators to reassess their financial strength, operational models, and long-term sustainability under stricter capital thresholds.
The SEC recently announced a sharp increase in minimum capital requirements across the capital market ecosystem. This marks one of the most significant regulatory adjustments in recent years.
Broker-dealers are now required to hold N2 billion, up from N300 million.
Dealers must meet N1 billion, compared to the previous N100 million threshold.
Registrars face a new requirement of N2.5 billion, rising from N150 million.
Underwriters and clearing firms are benchmarked at N5 billion, while composite exchanges must now have N10 billion.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
