In a circular published on January 16, 2026, Securities and Exchange Commission of Nigeria raised the minimum requirements for capital for all regulated capital market operators, marking the first general reset of thresholds in more than one decade.

The flyer mentions that brokers, traders, fund managers, stock exchanges, fintechs and virtual asset companies need to hold higher paid-up capital to keep their licenses. According to the regulator, this measure was intended to align the risk capital, to protect investors and to support new market segments.

Indeed, a broker who only deals with The execution of its customers' orders must now hold six hundred million of nairas, compared to 200 million previously.

Brokers who offer services of negotiation, lending and advice must hold two billion nairas, up from three hundred million previously. Intermediary brokers should As for them, they hold two billion nairas, against fifty million previously.

Fund and portfolio managers are divided into several categories. Full-fledged managers including Assets in excess of twenty billion naira must hold five billion Nairas, while limited managers must own two billions. Venture capital managers must own two hundred million naira.

Businesses have until June 30, 2027 to bring into compliance.

The capital reset is likely to reshape the structure of the Nigerian market. Small businesses can merge, reduce their licenses or withdraw, while the big players are gaining market shares. Higher thresholds increase costs entry, which could slow down the issuance of new licenses in the short term term, but reduce failures in the event of market tensions.