By Adebayo Obajemu
United Capital Group has completed the recapitalisation of its Securities and Exchange Commission (SEC)-regulated subsidiaries, satisfying the revised minimum capital requirements issued under the Commission’s Circular No. 26, more than 14 months before the June 30, 2027, compliance deadline.
The SEC’s revised minimum capital framework, introduced pursuant to the Investments and Securities Act 2025, significantly raised the capital thresholds for all categories of regulated capital market operators. Under the new requirements, Fund and Portfolio Managers operating at full scope must maintain a minimum capital of ₦5.00 billion (up from ₦150 million); Trustees must hold ₦2.00 billion (up from ₦300 million); and Issuing Houses providing underwriting services are required to carry ₦7.00 billion (up from ₦200 million). The framework was designed to strengthen market resilience, enhance investor protection, and align capital adequacy with the evolving risk profile of capital market activities.
United Capital’s four SEC-regulated subsidiaries, United Capital Investment Banking, United Capital Asset Management, United Capital Trustees, and United Capital Securities, have each independently met or exceeded the applicable thresholds. This was confirmed at the Group’s Annual General Meeting (AGM) held in Abuja on Friday, 24 April 2026, where the Board disclosed that all compliance milestones had been achieved without any recourse to external capital raising.