Reps move to review Nigeria’s 1957 trustee investment law
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Punch Newspaper
Reported by Dirisu Yakubu
Mon, 2 Nov 2026, 15:29
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Source Attribution: Punch Newspaper
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The House of Representatives has begun moves to repeal and re-enact Nigeria’s 69-year-old Trustee Investment Act, in a bid to expand investment opportunities for trustees, strengthen safeguards for beneficiaries and align the country’s trust investment framework with contemporary financial market realities. He said, “The law governing the investment of trust funds carries a responsibility that extends beyond financial management.
Context & Background
✦Declaring the hearing open, Speaker of the House of Representatives, Tajudeen Abbas, said the existing law had become increasingly inadequate after decades of changes in the country’s economic structure, financial markets and investment opportunities.
Key Figures & Named Entities
2026:The proposed reform, contained in the Trustee Investment Act (Repeal and Enactment) Bill, 2026, seeks to replace the existing legislation, enacted in 1957, with a more comprehensive framework that accommodates emerging investment instruments while establishing clearer obligations for those entrusted with managing assets on behalf of others.Monday:The bill was scrutinised on Monday at a public hearing organised by the House Committee on Capital Market and Institutions in Abuja, where lawmakers, regulators and other stakeholders examined its provisions and implications for Nigeria’s investment landscape.today:He explained that the Trustee Investment Act, now cited as Cap T22, Laws of the Federation of Nigeria 2004, was enacted at a time when investment opportunities available to trustees were considerably more limited than those in today’s financial market.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦The House of Representatives has begun moves to repeal and re-enact Nigeria’s 69-year-old Trustee Investment Act, in a bid to expand investment opportunities for trustees, strengthen safeguards for beneficiaries and align the country’s trust investment framework with contemporary financial market realities.
✦He said, “The law governing the investment of trust funds carries a responsibility that extends beyond financial management.
✦Declaring the hearing open, Speaker of the House of Representatives, Tajudeen Abbas, said the existing law had become increasingly inadequate after decades of changes in the country’s economic structure, financial markets and investment opportunities.
Key Facts:2026: The proposed reform, contained in the Trustee Investment Act (Repeal and Enactment) Bill, 2026, seeks to replace the existing legislation, enacted in 1957, with a more comprehensive framework that accommodates emerging investment instruments while establishing clearer obligations for those entrusted with managing assets on behalf of others.Monday: The bill was scrutinised on Monday at a public hearing organised by the House Committee on Capital Market and Institutions in Abuja, where lawmakers, regulators and other stakeholders examined its provisions and implications for Nigeria’s investment landscape.today: He explained that the Trustee Investment Act, now cited as Cap T22, Laws of the Federation of Nigeria 2004, was enacted at a time when investment opportunities available to trustees were considerably more limited than those in today’s financial market.Today: “Today, we gather to review a law that has governed trust investments in Nigeria since 1957 – 69 years ago.
Editorial Excerpt
The House of Representatives has begun moves to repeal and re-enact Nigeria’s 69-year-old Trustee Investment Act, in a bid to expand investment opportunities for trustees, strengthen safeguards for…
Frequently Asked Questions About This Story
What is the latest development regarding Federal Capital Territory?
The House of Representatives has begun moves to repeal and re-enact Nigeria’s 69-year-old Trustee Investment Act, in a bid to expand investment opportunities for trustees, strengthen safeguards for beneficiaries and align the country’s trust investment framework with contemporary financial market realities.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Federal Capital Territory, National Assembly of Nigeria, Sokoto State.
What timeline or key figures were confirmed?
The proposed reform, contained in the Trustee Investment Act (Repeal and Enactment) Bill, 2026, seeks to replace the existing legislation, enacted in 1957, with a more comprehensive framework that accommodates emerging investment instruments while establishing clearer obligations for those entrusted with managing assets on behalf of others.
