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 |

CIRCULAR – AUDITED ACCOUNTS OF COLLECTIVE INVESTMENT SCHEMES

Pursuant to the provisions of Section 169(2)&(3) and Section 181(1)(f),(g)&(h) of the Investment and Securities Act 2007, and the importance of disseminating timely information to the market, the Commission shall henceforth discontinue the practice of issuing prior approval or no objection for Audited Accounts of Collective Investment Schemes.

Consequently, annual accounts of Collective Investment Schemes upon completion of audit and auditor certification, shall be published within three months after the end of the period to which the accounts relate or any other period prescribed by the Commission from time to time.

Note however that any misstatements, misrepresentations, or otherwise, observed in the audited accounts of a Collective Investment Scheme shall attract appropriate sanctions (including a requirement to restate the accounts in the Scheme’s succeeding financial year) on the Fund Manager, Trustee and Auditor.

SIGNED

MANAGEMENT

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