Nigeria: Commodities/Derivatives/Stock Exchanges

The Securities and Exchange Commission has issued new guidance requiring collateral management companies, warehouse operators, and commodity exchange-linked warehouses to formally register within 90 days. Entities operating under informal arrangements must now meet specific capital requirements ranging from ₦200 million to ₦500 million and submit comprehensive documentation demonstrating operational capacity, governance structures, and financial standing.

On April 17, 2026, the Central Bank of Nigeria (CBN) announced the introduction of the Nigerian Overnight Financing Rate (NOFR) in collaboration with the Financial Markets Dealers Association (FMDA).

When DN Tyre & Rubber Plc and Greif Nigeria Plc were removed from the Nigerian Exchange Limited's Daily Official List, shareholders found their legally-owned shares suddenly untradeable.

The Investment and Securities Act, 2025 (ISA 2025) represents a significant regulatory development, particularly for those operating in and around digital asset markets including Fintech. In our previous newsletter*, we highlighted the important changes made to the capital market by the ISA 2025.

Prior to November 2024, Bureaux de Change operators ("BDCs") could not access the Nigerian Foreign Exchange Market ("NFEM") to purchase foreign exchange ("FX") for sale to their customers.

Like every other Foreign Exchange ("FX") market in the world, the Nigerian FX market is as volatile as it is dynamic.

The Nigeria currency has been under a lot of pressure in recent times, owing to decrease in export earnings due to the instability in price of crude, increase in demand for the dollar, incursion of the corona virus ...

On 28 March 2020, the Securities and Exchange Commission (SEC) exposed its draft Rules on Crowdfunding (Rules).

With the sustained interest in crowdfunding as an alternative means of raising capital, the Securities and Exchange Commission's ("SEC" or "the Commission")