The Securities and Exchange Commission (SEC) increased the minimum capital requirements for all categories of capital market operators in the country (CMOs).
According to a statement on Friday, the capital base for tier 2 “issuing houses with underwriting” is now ₦7 billion — up from ₦200 million, while that of trustees was increased to ₦2 billion from ₦300 million.
SEC explained that the upward review was informed by the need to strengthen market resilience and enhance investor protection.
Naijaonpoint reports that the CMOs have until June 2027 to ensure compliance with the new requirements.
Details later…