Nigeria: SEC Sets N7.5bn Minimum Capital for Free Trade Zone Firms Eyeing Public Offering

Nigeria’s Securities and Exchange Commission has proposed new rules for Free Trade Zone Entities seeking to undertake a public offering.

Free Trade Zone (FTZ) Entity is a company licensed to operate within a designated, fenced-in geographic area where special, relaxed economic regulations apply, treating it as outside the country’s normal customs territory.

The SEC set a N7.5 billion minimum capital requirement specifically for such entities that intend to undertake a public offering.

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