Nigeria: Securities

A pattern is emerging, one where private-owned monies are being diverted for public borrowing without the notice or express consent of the legal owners. In August 2026, President Bola Tinubu proposed the use of unclaimed dividends and dormant accounts funds to fund the Nigerian Education Loan Fund (“NELFUND”). Dr. Maruf Alausa, the Minister of Education, informed the public that cross ministerial efforts have commenced between the Ministries of Education, Finance and office of the Attorney-General of the Federation towards removing legal hurdles and operationalising this directive.2

Nigeria's Securities and Exchange Commission has proposed comprehensive rules for online Forex trading and Contracts for Difference (CFDs), establishing a regulatory framework that extends beyond brokers to encompass technology and platform providers. The proposed regulations introduce stringent capital requirements, operational standards, and compliance obligations for businesses providing trading infrastructure, raising critical questions about registration, data localization

Nigeria's Securities and Exchange Commission has released comprehensive proposed rules governing digital and virtual asset operations, introducing distinct regulatory categories for exchanges, custodians, and tokenisation platforms. The framework establishes capital requirements ranging from ₦200 million to ₦2 billion, detailed stablecoin reserve requirements, and enhanced investor protection measures across the digital asset value chain. Businesses operating in Nigeria's digital asset ecosystem

Nigeria's stock market has delivered a stunning 67% return in dollar terms as of July 2026, outperforming global markets including South Korea's Kospi. This remarkable performance stems from currency stability, economic reforms, and strong oil prices—but what does it mean for investors, and what legal framework governs entry into this frontier market?

Nigeria's capital market is undergoing a fundamental transformation driven by the Investments and Securities Act 2025 and the Nigerian Capital Market Strategy 2026.

The Investments and Securities Act 2025 has fundamentally transformed Nigeria's regulatory framework for public offers, introducing stringent registration requirements, enhanced disclosure obligations, and comprehensive investor protection mechanisms. What are the specific legal requirements companies must satisfy when making securities available to the public, and how does the new Act strengthen the Securities and Exchange Commission's supervisory powers while creating direct civil and criminal remedies fo

On January 16, 2026, the Securities and Exchange Commission (SEC) of Nigeria issued Circular No. 26-1 ("Revised Minimum Capital (MC) for Regulated Capital Market Entities")...

In the context of this article, unclaimed funds include unclaimed dividends from shares in public companies and dormant bank account balances.

Nigeria's venture capital (VC) sector has evolved from an informal, relationship-based market into a structured ecosystem shaped by various laws and regulatory requirements including regulations provided...