MDU Capital Receives SEC License for Fund Management

Magen Doxa Umerim Capital Limited has secured approval from the Securities and Exchange Commission (SEC) to operate as a fund and portfolio manager in Nigeria's capital market, effective July 28, 2026. The firm announced this development in a statement issued on Tuesday.

The regulatory clearance allows MDU Capital to issue and manage regulated collective investment schemes, discretionary and non-discretionary portfolio management services, and specialized fund products for high-net-worth individuals, retail investors, corporate entities, institutions, and the Nigerian diaspora. The management of MDU Capital stated that this regulatory milestone reflects their commitment to regulatory compliance, integrity, and client-centric innovation.

The approval comes amid increased regulatory focus from the SEC aimed at enhancing market penetration and enforcing corporate governance. MDU Capital, headquartered in Yaba, Lagos, aims to deliver technology-driven investment solutions while maintaining strong corporate governance and accountability.