The Nigerian Securities and Exchange Commission (SEC) has issued new authorizations for three BGL Group subsidiaries, permitting them to restart activities in the nation’s capital market. Official documents confirm that BGL Securities Limited, BGL Capital Limited, and BGL Asset Management Limited have received clearance to function as a Broker/Dealer, an Issuing House, and a Fund/Portfolio Manager, respectively.
Hafsat O. Rufai, the Director of Registration, Exchanges and Market Infrastructure, signed the notification for BGL Securities Limited. This registration as a Broker/Dealer became active on April 17, 2025, following the firm’s successful completion of a mandatory interview held on November 1, 2024. This action falls under the regulatory framework of the Investments and Securities Act (ISA) 2025.
Furthermore, BGL Capital Limited has been cleared to serve as an Issuing House effective November 22, 2024. The Commission verified that the entity satisfied all necessary regulatory criteria to conduct these operations. Meanwhile, BGL Asset Management Limited has been granted permission to manage funds and portfolios. This authorization requires the firm to strictly adhere to ongoing regulatory obligations, such as maintaining accurate records, keeping annual fidelity bond insurance current, participating in staff development, and filing regular reports with the SEC.
These three firms are now officially recognized by the SEC to resume their specific roles within the financial ecosystem while remaining under the Commission’s oversight.
