Section 350 Investments and Securities Act

Section 350 of the Investments and Securities Act 2025 is about Prohibition of use of certain titles. It is under Part XVIII (Miscellaneous Provisions) of the Act. It provides as follows:

(1) Except with the written consent of the Commission, a person shall not use a name, or title which includes the word —
(a) securities,
(b) exchange,

(c) fund manager,
(d) investment, or
(e) broker,
or any other word that suggests that the person is registered to perform a function in the Nigerian capital market.

(2) Any person who contravenes the provisions of this section is liable to an administrative penalty of not less than N10,000,000 in the first instance and a further penalty of N20,000 for every day the violation continues.