Lagos - The Securities and Exchange Commission (SEC) has approved a new minimum capital requirements for all categories of Capital Market Operators, reports BusinessDay.
Under the new structure, a broker/dealer is expected to have N300million to qualify to trade on the exchange. The previous requirement was N70million.
Brokers and dealers are expected to have N200 million and N100million respectively before they could trade on the floor of the exchange.
Underwriters who previously had a minimum capital base of N100 million are now required to have N200 million while Issuing Houses capital base was increased from N150 million to N200 million.
Read more at BusinessDay