Regulatory Alerts2014-01-01
Rules on Infrastructure Funds, Foreign Collective Investment Schemes and Sundry Amendments
This document establishes comprehensive regulatory frameworks for the operation of Infrastructure Funds, including specific definitions, eligibility criteria for fund managers, and strict investment restrictions such as minimum thresholds for infrastructure-related assets. It additionally defines the approval requirements and operational duties for foreign collective investment schemes soliciting investments from Nigeria, requiring them to appoint local representatives and comply with ongoing reporting obligations. Finally, it implements various regulatory updates affecting capital market operations, including amendments to corporate governance codes, registration fees for sponsored individuals, take-over bid rules, and the procedures for the transfer of capital market functions.