Ruby Trust Capital and Investment Ltd has obtained regulatory approval from the Securities and Exchange Commission of Nigeria to function as a licensed fund and portfolio manager. This authorization allows the firm to manage investment funds and provide portfolio management services to individual, corporate, and institutional clients under Nigeria’s Investment & Securities laws.
The approval reflects a formal endorsement by the Commission that Ruby Trust Capital meets the regulatory standards required of fund and portfolio managers. These standards include statutory compliance, operational capacity, governance adequacy, and adherence to regulatory requirements governing capital market operations.
The company is now empowered to structure, manage, and administer investment portfolios and pooled investment funds. This includes the discretionary management of assets on behalf of clients who seek professional management of investment capital. The firm’s services are legally permissible once it operates within the framework set by the SEC and relevant capital market regulations.
In an official statement, Ruby Trust Capital’s Managing Director and Chief Executive Officer, Mr. Balogun Michael, framed this regulatory milestone as pivotal to the company’s growth trajectory. He described the SEC approval as marking the beginning of a disciplined operational phase for the firm, one grounded in professional standards and investment rigour. According to Mr. Michael, the company’s strategic orientation emphasizes structured investment approaches to generate long-term value for its clients.
The approval by Nigeria’s capital markets regulator is significant because it places Ruby Trust Capital among a limited group of market participants that have cleared the SEC’s stringent licensing criteria. Entities that qualify as fund or portfolio managers must demonstrate robust internal controls, risk management systems, and compliance frameworks that protect investors and align with regulatory expectations. These conditions are designed to mitigate operational and financial risks and ensure that investors’ assets are managed within a regulated environment.
Under the SEC’s regulatory regime, fund and portfolio managers are expected to maintain clear reporting lines, uphold fiduciary duties, and comply with periodic disclosure requirements. Registration as a licensed manager imposes ongoing compliance obligations that include submission of regular returns, adherence to capital adequacy expectations, and maintaining documented governance structures.
Ruby Trust Capital’s entry into the regulated fund management sphere occurs at a time when Nigerian regulators are strengthening oversight of capital market functions. Recent reforms and revised minimum capital requirements aim to reinforce market integrity and protect investor interests amid evolving financial sector demands.
In practice, the firm’s new status enables it to onboard sophisticated and institutional clients seeking professional asset allocation services. It also positions Ruby Trust Capital to compete with established asset managers that have long held SEC licences to manage funds and discretionary portfolios. By aligning its operations with regulatory expectations, the company can build trust with investors who value transparency and regulatory compliance.
Ruby Trust Capital’s licence approval represents a strategic inflection point. It confirms regulatory confidence in the firm’s operational capacity and opens the door for expanded investment management activities in Nigeria’s capital market.
