Circulars — Securities and Exchange Commission, Nigeria

Latest regulatory circulars and official communications from SEC Nigeria for investors and market participants. Updated as new circulars are published.
đź”” Subscribe to This Feed Copy the URL below and add it to your RSS reader app (Feedly, Inoreader, NewsBlur):
https://home.sec.gov.ng/feeds/circulars.rss
New to RSS? Learn more →
Recent Updates (20 items)
Revised Minimum Capital (MC) for Regulated Capital Market Entities
January 16, 2026

1. INTRODUCTION

The Securities and Exchange Commission (“the Commission”), pursuant to its statutory mandate under the Investments and Securities Act, 2025, to regulate and develop the Nigerian capital market, hereby issues this Circular on the revision of Minimum Capital (MC) applicable to all categories of regulated capital market entities.

This review is informed by t

Read full article
Suspected Fraudulent Activities of TUNBOSAYO OKEKUNLE STRATEGIC ALPHA FUND (TOSAF)
January 15, 2026
The attention of the Securities and Exchange Commission (the Commission) has been drawn to the activities of an online investment platform known as TUNBOSAYO OKEKUNLE STRATEGIC ALPHA FUND (TOSAF) through its website and various social media platforms, which holds itself out as an Investment platform that provides investors varied stock options and other financial instruments purportedly under the supervision of the Commission.
Read full article
Suspected Fraudulent Activities Of Voya Investment Management (VIM)
January 06, 2026
The attention of the Securities and Exchange Commission, Nigeria (“the Commission”) has been drawn to the activities of an online investment platform known as, and operating under the name Voya Investment Management (VIM) through its website https://investmemts.voya.com/.
Read full article
Notice to all Capital market Operators (CMOS) on 2026 Renewal of Registration
December 12, 2025
This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of Registration of CMOs for the year 2026 will commence from January 01, 2026.
Read full article
SEC Nigeria Launches Regulatory Hub for Stronger Oversight and Inter Agency Correspondence
December 05, 2025
Digital platform to enhance synergy among regulators, improve transparency, and strengthen investor confidence
Read full article
Suspected Fraudulent Investment Activities Of Glorious Wealth Fund (GWF)
December 03, 2025

The attention of the Securities and Exchange Commission (SEC) Nigeria has been drawn to the activities of an online investment platform known as, and operating under the name Glorious Wealth Fund (GWF) through its website gloriouswealthfund.com. The operators of this platform claim to offer investment services in Nigerian stocks and other financial instruments, purportedly under the supervision of the SEC.

Read full article

List of Approved Commercial Papers as at 23 October 2025
October 30, 2025
Read full article
Updated Circular To All Prospective Capital Market Operators On Q4 2025 Pre-Registration Training And Examination
October 30, 2025

Further to the circular dated October 28, 2025, the Securities and Exchange Commission (the Commission) hereby notifies all applicants for registration as Capital Market Operators of the adjustment to the schedule of activities.

<
Read full article
CIRCULAR TO ALL PROSPECTIVE CAPITAL MARKET OPERATORS ON Q4 2025 PRE-REGISTRATION TRAINING AND EXAMINATION
October 28, 2025
The Securities and Exchange Commission (the Commission) hereby notifies all applicants for registration as Capital Market Operators that the next cycle of the pre-registration training and examination is scheduled to commence on Monday, November 3, 2025. Eligible applicants are as follows:
Read full article
Notification for the Second CMC Meeting in 2025
October 18, 2025

The Second Capital Market Committee (CMC) Meeting for 2025 is scheduled to be held on Monday, December 8th, 2025, in Lagos.

An interaction session with members of the press is planned for the following day, Tuesday, December 9th, 2025, at the SEC Lagos Zonal Office, located at 3 Idejo Street, Victoria Island, Lagos.

Please note that a

Read full article
Public Notice – AFRIQUANTUMX
October 07, 2025

The attention of the Securities and Exchange Commission (the Commission) has been drawn to the activities of AfriquantumX, which holds out itself as an investment platform trading on and selling cryptocurrency and stocks to investors in Nigeria.

The Commission hereby informs the public that AfriquantumX is NOT REGISTERED by the Commission either to solicit investments from the public o

Read full article
Interpretative Guidance Note on Private Equity Fund Rules
October 02, 2025
This Interpretative Guidance Note (IGN) seeks to clarify the provisions of the amended rules 558, 560(b), and 560(c) of the Private Equity Fund Rules published on the Commission’s website on April 24, 2025.
Read full article
Proceedings of the first CMC of 2025
September 11, 2025
The following are the presentations made during the first 2025 Capital Market Committee (CMC) meeting. These documents are published to provide stakeholders and the public access to the discussions and initiatives considered by the Committee.
Read full article
Call for Membership into CMMP Working Groups
September 11, 2025

The Securities and Exchange Commission (SEC) hereby invites Capital Market Operators to express interest in joining the Capital Market Master Plan (CMMP) Working Groups under the framework of the 2030 Capital Market Master Plan (CMMP).

These groups are essential to the development of a new Capital Market Master Plan, as the current 2015–2025 plan is set to conclude this year. The Working Groups will also s

Read full article
Launch of the SEC's Redesigned Website
August 29, 2025

The Securities and Exchange Commission (SEC) is pleased to announce the launch of its newly redesigned official website on Monday, September 1, 2025.

This comprehensive upgrade introduces a modern design, enhanced functionality, and a streamlined user experience. The restructured platform ensures critical information is better organized and more accessible for all stakeholders, including investors, market

Read full article
Corporate Governance Crisis In The Tourist Company Of Nigeria (TCN) PLC
July 28, 2025

The Securities and Exchange Commission (the Commission) has keenly followed recent disturbing developments in The Tourist Company of Nigeria Plc (TCN) championed by some majority shareholders in the company.  These developments include purportedly proceeding with an Annual General Meeting which was suspended by the Commission, and passing resolutions altering the Board composition by purportedly removing SEC appointed members of the B

Read full article
Circular To All Prospective Capital Market Operators On Pre-Registration Training And Examination
July 01, 2025

The Securities and Exchange Commission (the Commission) hereby notifies all applicants for registration as Capital Market Operators that the next cycle of the pre-registration training and examination is scheduled to commence on Monday, July 7, 2025. Eligible applicants are as follows:

  1. Applicants who were invited but did not attend the pre-registration training conducted in March 2025; Read full article
Guidance Note to Capital Market Operators and Public Companies on the Circular Regarding Board Appointments and Director Tenure
July 01, 2025

1.     Purpose of this Guidance

This guidance is issued to Capital Market Operators (CMOs) and Public Liability Companies (PLCs) in Nigeria following the Commission’s recent Circular addressed to Public Companies and Si

Read full article
Circular On The Expiration Of The Companies Income Tax (Exemption Of Bonds And Short-Term Government Securities) Order, 2011
July 01, 2025

The Securities and Exchange Commission (SEC) wishes to bring to the attention of all regulated entities and stakeholders that the ten-year period granted under the Companies Income Tax (Exemption of Bonds and Short-Term Government Securities) Order, 2011 lapsed in December 2021.

As a result, interest income from the following instruments may now be subject to applicable tax obligations under the Com

Read full article
Circular On Review And Processing Of Applications For Commercial Papers
June 25, 2025

The Securities and Exchange Commission (“the Commission”) hereby notifies all capital market stakeholders and prospective issuers that further to the “Rules on Issuance of Commercial Papers” issued on December 23, 2024, the submission and processing of applications for the issuance of commercial papers would commence on July 1, 2025.

Accordingly, all applications for the issuance of co

Read full article

Regulating Nigeria's Capital Market

© 2024 SEC Nigeria

Feed URL copied to clipboard! âś“
S/N