SEC proposes N3bn capital for Online Forex Broker Dealers

The Securities and Exchange Commission (SEC) in Nigeria has proposed new regulatory framework for online forex trading and Contracts for Difference (CFDs), setting minimum capital requirements of up to N5 billion for operators seeking to participate in Nigeria’s retail forex market. The proposed rules, issued under the Investments and Securities Act (ISA) No. 2, 2025, are designed to bring both domestic and offshore operators into a formal licensing and supervisory framework, alongside a proposed 30% minimum local ownership requirement for licensed brokers.

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