Nigeria’s Securities and Exchange Commission has raised minimum capital requirements for a wide range of capital market operators, tightening financial thresholds for fintech companies, virtual asset service providers, and other regulated firms.
In a circular issued on January 16, 2026, the regulator said the revised standards are designed to strengthen the financial resilience of market participants while ensuring that regulatory requirements reflect the growing scale, complexity, and risk exposure of modern financial services businesses.
The updated framework applies to fintech operators, virtual asset service providers, crowdfunding platforms, robo advisers, fund managers, and market infrastructure institutions. The SEC said the changes form part of a broader effort to improve market stability, enhance investor protection, and align Nigeria’s capital market rules with evolving global best practices.
Among the most notable revisions are higher capital requirements for robo advisers, which provide automated investment and financial planning services. Under the new rules, the minimum capital threshold for robo advisers has been increased to ₦100 million from ₦10 million previously.
Crowdfunding intermediaries will also face higher requirements, with minimum capital doubled to ₦200 million from ₦100 million.
Virtual asset service providers are subject to some of the sharpest increases. Digital asset exchanges and digital asset custodians must now maintain minimum paid up capital of ₦2 billion each. Ancillary virtual asset service providers are required to hold at least ₦300 million.
The rules also raise capital thresholds for alternative investment fund managers. Private equity fund managers must now maintain a minimum capital base of ₦500 million, while venture capital fund managers are required to hold at least ₦200 million.
The SEC said affected operators have until June 30, 2027, to comply fully with the revised requirements. Firms that fail to meet the new thresholds within the stipulated timeframe risk regulatory sanctions, including suspension of operations or withdrawal of registration.
The regulator said the measures are intended to ensure that only adequately capitalised firms operate in Nigeria’s capital market, particularly as fintech and digital asset activities expand and become more interconnected with the broader financial system.