The Securities and Exchange Commission (SEC) has announced a revision of the minimum capital requirements for all categories of capital market operators.
The commission said in a circular issued on Friday that the decision was driven by the need to improve market resilience and strengthen investor protection.
Under the revised framework, the minimum capital base for tier two issuing houses with underwriting has been raised to N7 billion from N200 million.
The commission also increased the capital requirement for trustees to N2 billion, up from the previous N300 million threshold.
More to come…