The Director General of SEC Nigeria recently spoke on Arise Television, shedding light on key updates in the Investment and Securities Act (ISA) 2025 | Enroll Now: Training Opportunities at The Nigerian Capital Market Institute (NCMI)! | In a major boost to capital market regulation in Nigeria, President Ahmed Bola Tinubu GCFR, has assented to the Investments and Securities Bill (ISB) 2025, which repeals the Investments and Securities Act No. 29 of 2007 and enacts the Investments and Secu | The Director General of SEC Nigeria recently spoke on Arise Television, shedding light on key updates in the Investment and Securities Act (ISA) 2025 | Enroll Now: Training Opportunities at The Nigerian Capital Market Institute (NCMI)! | In a major boost to capital market regulation in Nigeria, President Ahmed Bola Tinubu GCFR, has assented to the Investments and Securities Bill (ISB) 2025, which repeals the Investments and Securities Act No. 29 of 2007 and enacts the Investments and Secu |

Minimum Capital Requirement For CMOs

This page serves as an amendment to Schedule I of the Rules and Regulations, dated December 5, 2013

Pursuant to Section 313(6) of the Investments and Securities Act 2007, the following amendments are made by the Commission.

Amendment to Schedule I of the Rules and Regulation

The new minimum capital requirements for Capital Market Operators are as follows:

S/N OPERATORS MINIMUM CAPITAL REQUIREMENT
1 Broker/Dealer ₦300 Million
2 Broker ₦200 Million
3 Dealer ₦100 Million
4 Sub-Broker (Corporate) ₦10 Million
5 Sub-Broker (Individual) ₦500,000:00
6 Sub-Broker (Digital) ₦50 Million
7 Inter-Dealer Broker ₦50 Million
8 Underwriter ₦200 Million
9 Issuing House ₦200 Million
10 Registrar ₦150 Million
11 Fund/Portfolio Manager/Venture Capital Company ₦150 Million
12 Corporate Investment Adviser ₦5 Million
13 Individual Investment Adviser ₦2 Million
14 Robo Adviser ₦5 million
15 Commodity Broker Dealer ₦10 million
16 Commodity Broker ₦3 Million
17 Commodity Dealer ₦3 Million
18 Receiving Banker (Banker to an Issue) ₦200 Million
19 Trustee ₦300 Million
20 Rating Agency ₦150 Million
21 Capital Market Consultant (Corporate) ₦5 Million
22 Capital Market Consultant (Partnership) ₦2 Million
23 Capital Market Consultant (Individual) ₦500,000:00
24 Custodian of Securities Banks (Evidence of minimum paid up capital by Central Bank of Nigeria)
25 Nominee ₦1,000.00
26 Crowdfunding Intermediaries/Platform ₦100 Million
27 Central Counterparty (CCP) ₦ 5 Billion
28 Central Securities Depository (CSD) ₦500 Million
29 Derivatives Clearing Member Evidence of minimum paid up capital by Central Bank of Nigeria
30 Trade Repository ₦100 Million
31 Collateral Management Company ₦ 50 Million
32 Commodities Exchange ₦ 500 Million
33 Securities Exchanges ₦ 500 Million
34 Capital Market Holding Companies (CMHC) Aggregate of the subsidiaries capital requirements
35 Trade Associations Not applicable
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