Section 225 Investments and Securities Act

Section 225 of the Investments and Securities Act 2025 is about Conditions for registration. It is under Part XV (Commodities Exchange and Warehouse Receipts) of the Act. It provides as follows:

(1) The Commission shall prescribe the minimum share capital for a commodities exchange.

(2) A commodities exchange shall be an entity incorporated or registered in Nigeria as defined in the interpretation section of this Act.

(3) An application for registration shall be accompanied by particulars, including rules of an exchange, and such other information as the Commission may by regulations require.

(4) The Commission may, in considering an application, have regard to any information in its possession whether provided by the applicant or not.

(5) Where the Commission discovers that the information referred to in subsection (3) adversely affects the application for registration, the Commission shall forward such information to the applicant for clarification.

(6) Where the Commission considers the clarification provided under subsection (5) unsatisfactory it shall refuse the application.