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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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