Sycamore Gets SEC Licence to Operate as Fund Manager in Nigeria

With the SEC licence, Sycamore can now operate in the Nigerian capital market as a fund/portfolio manager.

Business Post reports that recently, the company upgraded its mobile app to transform how clients manage their investments.

Through an intuitive dashboard, investors can now access institutional-grade portfolio analytics that provide clear visibility into performance, risk exposure, and growth opportunities.

A standout feature is the new multi-currency wallet, which directly addresses clients’ needs for currency diversification by allowing users to hold and invest funds across USD, EUR, GBP, and NGN.

This capability, backed by Sycamore’s SEC-licensed status, provides investors with a regulated channel for managing currency exposure.

“Securing our SEC license represents the culmination of years of building institutional-grade compliance systems that protect investor interests,” the chief executive of Sycamore, Mr Babatunde Akin-Moses, stated.

Also, the organisation, has appointed a former Managing Director of ARM Securities, Mr Oluwagbenga Magbagbeola, to lead its asset management arm.

Mr Akin-Moses said, “With Oluwagbenga’s proven investment expertise, we’re uniquely positioned to deliver performance and security to investors navigating Africa’s complex market conditions.”

Mr Magbagbeola joins Sycamore with 17 years of capital markets experience, spanning roles at ARM Securities, FBNQuest Securities, and Profund Securities.

At ARM Securities, Magbagbeola led the development of investment strategies that consistently performed against market benchmarks during challenging economic cycles, including Nigeria’s recent periods of currency volatility and inflation.

“Joining Sycamore allows me to bridge traditional capital markets expertise with fintech innovation at precisely the right time.

“The SEC license creates a regulatory framework for what many Nigerians are already seeking – protected pathways for investment diversification during economic uncertainty,” Mr Magbagbeola remarked.

“This milestone reflects our commitment to operating at the highest standards of financial governance.

“Our team underwent a rigorous evaluation process, during which regulators examined our governance structures, risk management frameworks, and client protection mechanisms,” the Chief Commercial Officer of the firm, Ms Onyinye Okonji, noted.

Also, the Chief Operating Officer of Sycamore, Mayowa Adeosun, disclosed that, “Our proprietary investment platform represents years of innovation in applying financial technology to local market conditions.

“We’ve leveraged artificial intelligence and machine learning to analyse market trends and optimise portfolio allocations across multiple asset classes, resulting in more responsive investment strategies tailored to Nigeria’s dynamic market conditions.”