Week of
Nigeria, Libya and the Czech Republic feature this week, with regulators acting on operator registration, pension fees, foreign currency margins and collective investment rules. Nigeria accounts for two of the four records. The Securities and Exchange Commission of Nigeria issued a notice revoking the registration of Kensington Agro Trading Limited as a capital market operator, citing provisions of the Investments and Securities Act, 2025 and the SEC Rules and Regulations 2013, and advising market participants to discontinue dealings with the company. The National Pension Commission issued a circular approving assets-based fee rates for two pension funds and setting a compensation framework for Accredited Pension Agents. Libya's Central Bank amended the maximum profit margin licensed exchange companies and bureaus may charge on foreign currency sales, setting different margins for cash and for cheques, transfers and electronic payments, with its Supervision and Inspection Department to monitor compliance. The Czech National Bank issued a notice repealing a 2007 official communication on collective investment, citing changes in legislation including the Act on Investment Companies and Investment Funds. The records differ in type, spanning a notice, a circular, a circular and a notice, and in subject, from market operator registration and pension fund fees to foreign currency pricing and investment legislation.
Czechia
Official Communication of the Czech National Bank of February 25, 2026, on the Repeal of the Official Communication of the Czech National Bank of January 12, 2007
The Czech National Bank repeals its official communication of January 12, 2007, concerning certain issues of collective investment in connection with the amendment to the Act on Collective Investment No. 224/2006 Coll. The reason is the change in legislation, in particular Act No. 240/2013 Coll., on Investment Companies and Investment Funds, which repealed Act No. 189/2004 Coll., on Collective Investment. The repeal affects entities operating in the field of collective investment.
NoticeTranslated to EnglishCzech
Libya
Circular No. [N (2026/8)] regarding the amendment of Paragraph (Second/2) of Circular No. [N (2026/2)] concerning controls on the sale of foreign currency to individuals
The Central Bank of Libya amends the maximum profit margin that licensed exchange companies and bureaus may charge on the sale of foreign currency, setting it at 1% for cash sales and 0.5% for sales via cheques, bank transfers and electronic payment methods, added to the purchase price from the Central Bank. The circular affects commercial banks and licensed exchange companies and bureaus, and states that the Supervision and Inspection Department will monitor and inspect compliance.
CircularTranslated to EnglishArabicForeign exchange
Nigeria
Revocation Of Registration Of Kensington Agro Trading Limited As A Capital Market Operator
The Securities and Exchange Commission of Nigeria notifies the public that the registration of Kensington Agro Trading Limited as a capital market operator (Commodity Broker/Dealer and Collateral Manager) has been revoked with immediate effect. The revocation was made under Section 61(6) of the Investments and Securities Act, 2025, and Rule 34(1) of the SEC Rules and Regulations 2013, as amended. Commodity exchanges, the investing public, commodity traders, and all capital market stakeholders are advised to discontinue capital market-related dealings with the company.
NoticePublished in EnglishEnglishLicensingFees on Foreign Currency Contribution Fund (Fund VII), Personal Pension Plan Fund (Fund V), and the Compensation Framework for Accredited Pension Agents
The National Pension Commission approves assets-based fee rates for the Foreign Currency Pension Contributions Fund (Fund VII) and the Personal Pension Plan Fund (Fund V Conservative and Fund V Growth), and sets a compensation framework for Accredited Pension Agents under the PPP, including onboarding fees, transaction charges, and performance bonuses drawn from asset management fees. It affects licensed Pension Fund Administrators, Custodians, and Accredited Pension Agents, and is intended to prevent depletion of the funds and preserve capital over the long term.
CircularPublished in EnglishEnglish
Generated by AI from the original publication: extracted, summarised and translated to English. In case of discrepancy, the original prevails; verify against it before relying on this summary.