Regulatory Alerts2026-08-27
Added · Updated
Amendment to Rules on Fund/Portfolio Management Operations
Under Section 5, the amendment prohibits Fund/Portfolio Managers from investing Retail Investor funds in related party assets or transactions, bans keeping such monies with related party custodians, and restricts permissible assets to fixed or term deposit investments issued by banks licensed by the CBN and unquoted equity stocks actively traded on a registered or recognized OTC platform. Section 6 allows High Net Worth Investor and Qualified Institutional Investor funds managed under discretionary or non-discretionary mandates to be invested outside Nigeria, provided the investment does not exceed 20% of the client's assets under management. The rules were made at Abuja on 21 August 2026 and signed by the Director General and Ag. Secretary to the Commission.
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