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The Securities and Exchange Commission, SEC, has fixed N50 million as minimum paid up capital for warehousing and collateral management companies in Nigeria .
The agency explained that the new rules would ensure that the nation has a vibrant commodities trading ecosystem which would in turn translate into foreign exchange earnings for the country.
It added every warehouse that stores commodities to be traded on a registered Exchange shall apply to be registered by the Commission, while the Commission shall maintain a register of all registered warehouses which shall be published on its website
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