Nigeria's SEC Raises Minimum Capital for Brokers and Dealers in Market Reform

The Securities and Exchange Commission (SEC) in Nigeria has announced a significant review of the minimum capital requirements for brokers and dealers, with the new thresholds set to take effect by June 30, 2027. The reform aims to enhance investor protection and deter undercapitalized firms.

The new framework replaces the existing capital regime in place since 2015. The minimum capital for brokers will increase from N200 million to N600 million, while dealers will be required to maintain N1 billion, among other changes affecting various market participants.