Circulars — Securities and Exchange Commission, Nigeria

Latest regulatory circulars and official communications from SEC Nigeria for investors and market participants. Updated as new circulars are published.
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Recent Updates (20 items)
March 18, 2026
The objectives of these Guidelines are to: a. Promote investor protection by ensuring that CMOs maintain adequate financial resources to absorb operational and market-related losses; b. Enhance the resilience, integrity, and stability of the Nigerian capital market; c. Establish a risk-sensitive and proportionate capital framework aligned with the nature, scale, and complexity of regulated activities; d. Support effective supervision and early regulatory intervention through clear capital adequacy standards; and e. Reinforce domestic and international confidence in the prudential soundness of the Nigerian capital market, consistent with IOSCO principles.
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March 05, 2026
Join the 1st Biannual SEC Regulator/FinTech Clinic as regulators and FinTech stakeholders engage on regulatory clarity, compliance expectations, and responsible innovation in Nigeria’s capital market.
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March 02, 2026
The Securities and Exchange Commission, “the Commission” hereby notifies the general public of the revocation of the registration of Kensington Agro Trading Limited as a capital market operator
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February 24, 2026

The Securities and Exchange Commission (the Commission) hereby notifies all applicants for registration as Capital Market Operators that the next cycle of the pre-registration training and examination is scheduled to commence on Monday, March 2, 2026. Eligible applicants are as follows:

i. Applicants who were invited but did not attend the pre-registration training conducted in November, 2025

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January 30, 2026

The attention of the Securities and Exchange Commission ("The Commission") has been drawn to the activities of AURUM BOT, which presents itself as an investment platform dealing with cryptocurrency in Nigeria.

The Commission hereby informs the public that AURUM BOT is NOT REGISTERED OR LICENCED by the Commission to either solicit investments from the public or operate in any capacity w

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January 30, 2026

The attention of the Securities and Exchange Commission (“the Commission”) has been drawn to the activities of an online investment platform known as ModMount Services Limited, which holds itself out as a financial services provider and Contract for Difference (CFD) broker offering investment opportunities in forex, stocks, indices, commodities, and cryptocurrencies.

Investigations by the Commissio

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January 16, 2026

1. INTRODUCTION

The Securities and Exchange Commission (“the Commission”), pursuant to its statutory mandate under the Investments and Securities Act, 2025, to regulate and develop the Nigerian capital market, hereby issues this Circular on the revision of Minimum Capital (MC) applicable to all categories of regulated capital market entities.

This review is informed by t

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January 15, 2026
The attention of the Securities and Exchange Commission (the Commission) has been drawn to the activities of an online investment platform known as TUNBOSAYO OKEKUNLE STRATEGIC ALPHA FUND (TOSAF) through its website and various social media platforms, which holds itself out as an Investment platform that provides investors varied stock options and other financial instruments purportedly under the supervision of the Commission.
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January 06, 2026
The attention of the Securities and Exchange Commission, Nigeria (“the Commission”) has been drawn to the activities of an online investment platform known as, and operating under the name Voya Investment Management (VIM) through its website https://investmemts.voya.com/.
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December 12, 2025
This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of Registration of CMOs for the year 2026 will commence from January 01, 2026.
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December 05, 2025
Digital platform to enhance synergy among regulators, improve transparency, and strengthen investor confidence
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December 03, 2025

The attention of the Securities and Exchange Commission (SEC) Nigeria has been drawn to the activities of an online investment platform known as, and operating under the name Glorious Wealth Fund (GWF) through its website gloriouswealthfund.com. The operators of this platform claim to offer investment services in Nigerian stocks and other financial instruments, purportedly under the supervision of the SEC.

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October 30, 2025
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October 30, 2025

Further to the circular dated October 28, 2025, the Securities and Exchange Commission (the Commission) hereby notifies all applicants for registration as Capital Market Operators of the adjustment to the schedule of activities.

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October 28, 2025
The Securities and Exchange Commission (the Commission) hereby notifies all applicants for registration as Capital Market Operators that the next cycle of the pre-registration training and examination is scheduled to commence on Monday, November 3, 2025. Eligible applicants are as follows:
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October 18, 2025

The Second Capital Market Committee (CMC) Meeting for 2025 is scheduled to be held on Monday, December 8th, 2025, in Lagos.

An interaction session with members of the press is planned for the following day, Tuesday, December 9th, 2025, at the SEC Lagos Zonal Office, located at 3 Idejo Street, Victoria Island, Lagos.

Please note that a

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October 07, 2025

The attention of the Securities and Exchange Commission (the Commission) has been drawn to the activities of AfriquantumX, which holds out itself as an investment platform trading on and selling cryptocurrency and stocks to investors in Nigeria.

The Commission hereby informs the public that AfriquantumX is NOT REGISTERED by the Commission either to solicit investments from the public o

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October 02, 2025
This Interpretative Guidance Note (IGN) seeks to clarify the provisions of the amended rules 558, 560(b), and 560(c) of the Private Equity Fund Rules published on the Commission’s website on April 24, 2025.
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September 11, 2025
The following are the presentations made during the first 2025 Capital Market Committee (CMC) meeting. These documents are published to provide stakeholders and the public access to the discussions and initiatives considered by the Committee.
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September 11, 2025

The Securities and Exchange Commission (SEC) hereby invites Capital Market Operators to express interest in joining the Capital Market Master Plan (CMMP) Working Groups under the framework of the 2030 Capital Market Master Plan (CMMP).

These groups are essential to the development of a new Capital Market Master Plan, as the current 2015–2025 plan is set to conclude this year. The Working Groups will also s

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