Section 236 Investments and Securities Act

Section 236 of the Investments and Securities Act 2025 is about Registration of commodity broker. It is under Part XV (Commodities Exchange and Warehouse Receipts) of the Act. It provides as follows:

(1) A person shall not, whether as principal or agent, carry on business of or hold himself out as —
(a) a commodity broker;
(b) a commodity broker’s representative;

(c) a commodity trading adviser;
(d) a commodity pool operator;
(e) a spot commodity broker;

(f) spot commodity pool operator; or
(g) any other professional or entity as may be determined by the Commission unless such person is registered by the Commission in accordance with the provisions of this Act or rules and regulations made under it.

(2) A person who contravenes subsection (1), commits an offence and is liable on conviction to a fine of not less than N10,000,000 or imprisonment for a term of not less than three years or both.