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§ Resources
Free Tools for Compliance Teams
Use them on your own; nothing is sent anywhere. Each item is traced to its primary source in the Recholam source register.
§ Self-check
Would Your Firm Pass These Eight Questions?
Answer for your own firm. The result stays on this page.
§ Regulatory watch
What We Are Tracking for Capital Market Operators
- Cybersecurity risk assessment for operators
CMOs were asked to complete the assessment on the SEC e-Portal's Cybersecurity Module by 5 November 2026, part of a cross-regulator exercise. Keep the evidence behind each answer.
- New Nigeria Sanctions Committee and UN designations
Further individuals and an entity designated. Screen clients and transactions, freeze without delay and report as the notices direct.
- IFRS sustainability standards (S1 and S2)
Public companies and significant public-interest CMOs filed implementation plans by 15 October 2026. Reporting becomes mandatory for periods beginning on or after 1 January 2028.
- Public offers by free trade zone entities
Final rules: licensed FTZ firms operating in a zone may offer securities with SEC approval, a three-year record, ₦3.5bn paid-up capital (or ₦5bn net assets or ₦10bn average revenue), a zone authority no-objection and an exchange listing.
- Proposed rules on online forex and CFDs
Exposure draft only, not yet in force. Platforms offering these products in Nigeria remain subject to ISA 2025 registration.
- Fund and portfolio management rules amended
Retail discretionary money may go only into listed permissible assets, never related-party assets or custodians. HNI and institutional client money may be invested abroad up to 20% of assets under management.
- SEC Rules on Shariah Advisory Services
Non-interest products need an SEC-registered Shariah adviser, with SEC notified within 5 business days of appointment.
- Proposed digital and virtual asset rules
Exposure draft to replace the 2022 Digital Asset Rules: Nigerian incorporation, ₦2bn capital for exchanges and custodians, and caps on retail investment. Not yet in force.
- T+1 settlement deadline fixed
Equities and commodities have settled on T+1 since 1 June 2026; settlement is now due by 5:00 pm on T+1.
- Revised minimum capital guidelines
Existing operators must meet the new capital for each registered function by 30 June 2027.
- Nigeria leaves the FATF grey list
Delisting does not reduce obligations. Supervisors now expect the programme to keep working without an action plan driving it.
- NDPC General Application and Implementation Directive
Registration tiers, DPO reporting, DPIAs for digital financial services, and compliance audit returns by 31 March.
- Investments and Securities Act 2025
The new capital markets law reshaping SEC oversight, registration, disclosure and enforcement.
Archive: earlier developments (0)
Last reviewed 5 November 2026 against SEC circulars and rules. Items older than three months move to the archive automatically. Proposed rules are shown as exposure drafts until made final. SEC circulars
Next deadlines
From today- 24 hrsSuspicious transaction report to the NFIU (MLPPA 2022 s.7)
- 24 hrsSanctions match: freeze, report and file an STR (TPPA 2022 s.54)
- 72 hrsPersonal data breach to the NDPC (GAID 2025 Art 33)
- 5 daysSponsored individual exit notified to SEC (SEC Rules r.35)
A general guide to common obligations for SEC-registered operators with a December year end. It is not legal advice; obligations depend on your registered functions.
§ Next step
The Next Step Is a Forty-five-Minute Call
You describe your activities, your licensed functions and what is currently worrying you. Within five working days you receive a fixed-fee proposal, or a straight answer that you do not need one.