Magen Doxa Umerim Capital Limited has secured the approval of the Securities and Exchange Commission to operate as a fund,  portfolio manager in Nigeria’s capital market, effective 28 July 2026.

The firm disclosed this in a statement issued on Tuesday.

The regulatory clearance enables the wealth management firm to issue and manage regulated collective investment schemes, discretionary and non‑discretionary portfolio management services, and specialised fund products tailored for high‑net‑worth individuals, retail investors, corporate entities, institutions, and the Nigerian diaspora.

Reacting to the development, the management of the firm noted that the regulatory milestone underscored its readiness to drive value and trust in the financial sector.

“Securing this approval from the Securities and Exchange Commission is a major milestone that reflects our unwavering commitment to regulatory compliance, integrity, and client‑centric innovation.

“As a licensed fund and portfolio manager, MDU Capital is fully positioned to help individual and institutional investors grow and preserve their wealth through disciplined research, robust risk management, and transparent investment strategies,” the company stated.

The approval comes at a time when the Nigerian capital market is witnessing heightened regulatory focus from the SEC aimed at deepening market penetration, expanding retail investor participation, and enforcing strict corporate governance among market operators.

Fund managers in the country play a critical role in mobilising domestic savings and channelling capital into key sectors of the economy through money market, equity, fixed income, and real estate funds.

Headquartered in Yaba, Lagos, MDU Capital stated that the licence marked a major step in its strategic vision to deliver technology‑driven investment solutions designed to provide a seamless user experience.

The company emphasised that its operational framework remained anchored on strong corporate governance and accountability, values that are increasingly paramount as investors navigate macroeconomic shifts and inflation dynamics in the domestic market.

As the apex regulatory institution for the Nigerian capital market, the SEC oversees the registration and supervision of capital market operators to ensure market integrity, protect investor interests, and foster systemic stability across the financial ecosystem.