SEC Nigeria proposes a N7.5 billion capital floor for free trade zone entities

SEC Nigeria issued a rules exposure draft on 14 April 2026 setting a minimum paid-up share capital of N7.5 billion for Free Trade Zone Entities seeking to offer or issue shares on the Nigerian capital market, with a two-week comment window through the Rules Committee.

Nigeria's free trade zones host technology, digital payments and blockchain infrastructure operators, and a N7.5 billion capital floor for public market access determines which of them can raise capital domestically and which must structure offshore. The comment window closed at the end of April 2026. Entities within scope that did not respond will meet the rule as finalised.