Effective as of December 5 2013, the Nigerian Securities and Exchange Commission increased the minimum capital requirements for capital market operators. The table below shows the old and new minimum capital requirements for the various categories of capital market operator.
Category of capital market operator | Old minimum capital requirements | New minimum capital requirement |
Broker/dealer | N70 million | N00million |
Broker | N40 million | N200 million |
Dealer | N30 million | N100 million |
Issuing house | N150 million | N200 million |
Underwriter | N100 million | N200 million |
Registrar | N50 million | N150 million |
Trustees | N40 million | N300 million |
Rating agency | N20 million | N150 million |
Corporate investment adviser | N5 million | N5 million |
Individual investment adviser | N500,000 | N2 million |
Fund/portfolio manager | N20 million | N150 million |
For further information on this topic please contact Ngozi Agboti at Udo Udoma & Belo-Osagie by telephone (+234 1 263 4831), fax (+234 1 263 4541) or email ([email protected]). The Udo Udoma & Belo-Osagie website can be accessed at www.uubo.org.