Regulatory Alerts2021-03-23
Executed Rules And Amendments 22 March 2021
The Securities and Exchange Commission (SEC) of Nigeria has introduced a new rule and amendments to its rules and regulations, focusing on warehousing and collateral management. This includes defining key terms such as "Assayer," "Collateral Management Company," and "Electronic Warehouse Receipt." The new regulations outline the registration process and requirements for collateral management companies, emphasizing minimum capital, fidelity insurance, and record maintenance. These changes aim to standardize electronic warehouse receipts and improve commodities trading in Nigeria.