SEC Approves Magen Doxa Umerim Capital as Fund, Portfolio Manager

Nume Ekeghe

Magen Doxa Umerim (MDU) Capital Limited has received approval from the Securities and Exchange Commission (SEC) to operate as a Fund/Portfolio Manager in Nigeria’s capital market, expanding its investment management offerings to individuals, corporates, institutional investors and the Nigerian Diaspora.

The firm, in a statement, noted that the approval, which took effect from July 28, 2026, marks a significant milestone in its growth and reinforces its commitment to delivering regulated investment solutions built on professionalism, strong corporate governance and client-focused service.

With the licence, MDU Capital is now authorised to provide fund and portfolio management services, offering tailored investment strategies designed to help clients preserve and grow wealth in line with their financial objectives.

It stated: “MDU Capital Limited is pleased to announce that it has secured approval from the Securities and Exchange Commission (SEC) to operate as a Fund/Portfolio Manager in Nigeria’s capital market, effective 28 July 2026.

“This milestone marks a new chapter for the firm, which has built its foundation on professionalism, integrity, strong governance and a deep commitment to helping clients grow and preserve their wealth.

“The approval positions MDU Capital to provide regulated fund and portfolio management services tailored to the needs of individuals, corporates, institutions and Diaspora investors.

Headquartered in Yaba, Lagos, the firm will combine experienced investment professionals, disciplined research, effective risk management and technology-driven solutions to deliver a transparent and seamless investment experience.

“With the SEC approval now in place, MDU Capital is positioned to deepen access to professionally managed investments while maintaining high standards of accountability, regulatory compliance and client service.”