Nigeria’s Securities and Exchange Commission (SEC) has issued a far-reaching revision of capital requirements for virtually all capital market operators.
This is according to a circular released by the Commission on January 16, 2026, which replaces the long-standing 2015 capital regime and sets a compliance deadline of June 30, 2027.
The new framework aims to ‘improve market resilience’, weed out undercapitalised players, and reward firms with governance depth and scale.
This marks a major step toward market consolidation and regulatory tightening as the current government continues with its N1 trillion GDP drive.