Submit Q2 Report By July 10, SEC Orders Market Operators

The Securities and Exchange Commission (SEC) has directed all Capital Market Operators (CMOs) to submit their second-quarter (Q2) 2026 Ownership Structure and Capital Flows Returns on or before Friday, July 10, 2026, as part of efforts to strengthen the quality of Nigeria’s external sector statistics and enhance regulatory oversight of cross-border investment activities.

The directive was contained in a circular titled “Request for the Submission of Q2 2026 Ownership Structure and Capital Flows Returns,” published by the Commission and seen by THE WHISTLER.

The notice applies to registrars, broker/dealers, fund managers and other relevant capital market operators.

With the deadline falling just two days after the publication of the circular, the SEC urged all affected operators to ensure full compliance within the stipulated timeframe.

According to the Commission, the quarterly reporting exercise is designed to support the compilation of Nigeria’s Balance of Payments (BoP) and International Investment Position (IIP) statistics, which are critical indicators used to assess the country’s financial transactions with the rest of the world and its external asset and liability position.

The regulator explained that the initiative forms part of ongoing efforts to improve the quality, coverage and reliability of Nigeria’s external sector data, thereby providing policymakers, regulators and investors with more comprehensive information on capital market activities involving residents and non-residents.

“This exercise forms part of ongoing efforts to improve the quality, coverage, and reliability of Nigeria’s external sector statistics,” the Commission stated in the circular.

Under the reporting requirements, capital market operators are expected to provide detailed information on new investments in equity and debt securities involving both Nigerian residents and foreign investors.

The returns are also expected to capture foreign portfolio investment holdings in Nigerian companies, equity and debt investments by Nigerian residents in foreign entities, and ownership interests arising from mergers, acquisitions and other business combinations involving resident and non-resident entities.

In addition, operators are required to disclose investments by multinational corporations in the Nigerian capital market, cross-border capital market transactions, and equity and bond investments held abroad by resident companies.

The SEC stressed that the reporting obligation is a continuous quarterly requirement rather than a one-off exercise, underscoring the Commission’s commitment to maintaining up-to-date information on ownership structures and capital flows within the Nigerian capital market.

To facilitate accurate reporting, the Commission instructed operators to strictly adhere to the reporting templates applicable to their respective categories. It also advised reporting entities to carefully review the accompanying guidance notes to ensure that all submissions are complete, accurate and filed within the prescribed timeline.

The latest directive reflects the SEC’s broader efforts to improve market transparency, strengthen regulatory data collection and align Nigeria’s capital market reporting framework with international statistical standards for monitoring foreign investment and cross-border capital movements.