In a statement issued on 12 December 2025, the Securities and Exchange Commission (“SEC” or the “Commission”) directed all Capital Market Operators (“CMOs”) to renew their registration with the Commission for 2026. According to the statement, the annual registration renewal window will commence on 1 January 2026 and close on 31 January 2026.
Key Takeaways for CMOs and Stakeholders
The requirement for the annual renewal of registration was reintroduced by SEC in 2021 with the objectives of: (x) maintaining an up-to-date database of registered CMOs in Nigeria; (y) enhancing investor confidence; and (z) strengthening the Commission’s regulatory oversight of the capital market.
The requirements for registration renewal include the submission of:
(i) the 2026 annual subscription receipt issued by the relevant trade group(s); and
(ii) all other documents required on the registration renewal portal.
Consequences of Non-Compliance
- Penalties: A CMO may be required by SEC to pay monetary fines for failure to comply with the Commission’s directive.
- Inability to Operate as a CMO: The Commission may restrict or suspend a CMO from carrying on capital market activities until full compliance is achieved.
For further information, please contact: [email protected]