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. The relevance to this archive is the perimeter question. Nigeria's free trade zones host technology, digital payments and blockchain infrastructure operators, and a N7.5 billion capital floor for public market access will shape which of them can raise domestically and which structure offshore. The comment window closed at the end of April 2026; entities in scope that missed it will meet the rule as finalised.