Nigeria’s SEC raises capital requirement threshold for fintechs and virtual asset providers
- The SEC announced a revision of minimum capital requirements for operators in Nigeria's capital market.
- New capital standards aim to strengthen financial resilience and align with global best practices.
- Minimum capital for robo-advisers increased from ₦10 million to ₦100 million.
The SEC's revision of capital requirements reflects a necessary step towards modernizing Nigeria's financial regulations, but it may pose challenges for smaller operators who may struggle to meet the new thresholds. Further discussion is needed on how these changes will impact market competition and innovation in the fintech space.
