Section 61 Investments and Securities Act 2025

Section 61 of the Investments and Securities Act 2025 is about Registration of capital market operators. It is under Part VI (Registration and Regulation of Capital Market Operators) of the Act. It provides as follows:

(1) A person shall not operate in the Nigerian capital market or carry on investments and securities business unless the person is registered in accordance with this Act and the rules and regulations made under it.

(2) The Commission shall prescribe the conditions for registration including qualifications and skills required to operate in the Nigerian capital market.

(3) An application for registration under this Part shall be in the manner and upon payment of the fees prescribed by the Commission.

(4) Any person who violates the provisions of subsection (1), commits an offence and is liable on conviction to a fine of not less than N5,000,000 or imprisonment for a term of not less than five years or both.

(5) The Commission may in lieu of prosecution consider an application from any entity which has violated the provisions of this section, and upon payment of an appropriate penalty as may be determined by the Commission, and fulfilment of other conditions of registration, register such entity.

(6) The Commission may suspend or revoke a certificate of registration issued under this section for a violation of any provision of this Act or regulations made under it, provided that the person concerned has been given a reasonable opportunity of being heard.