House Calls For Overhaul of Nigeria’s Trustee Investment Legal Framework.
Abbas Tajudeen, made the call on Monday in Abuja during a public hearing on the Trustee Investment Bill, 2026, which seeks to repeal and re-enact the existing Trustee Investment Act, with provisions expanding permissible investment opportunities while introducing stricter safeguards against excessive investment risks.
He said the investment landscape had changed considerably since the enactment of Nigeria’s Trustee Investments Act of 1957, with the expansion of capital markets, the emergence of sophisticated financial instruments and new opportunities for investment and wealth creation making a review of the legislation necessary.
The Speaker, who was represented by Hon.
Dahiru Sarki, said the proposed legislation presented an opportunity to establish a modern legal framework that would accommodate contemporary investment opportunities while strengthening the protection of trust assets and the interests of beneficiaries. He stated: “The law governing the investment of trust funds carries responsibilities that extend beyond financial management, as it concerns the protection of property, preservation of family wealth and the security of individuals and institutions whose interests depend on the prudent management of entrusted assets. “Behind every trust may be the inheritance of a child, the security of a widow, the resources of a charitable institution or the accumulated wealth of a family. The law must ensure that these interests are adequately protected.” Abbas noted that the existing legal framework had failed to keep pace with developments in the financial sector, stressing that reform was both necessary and timely.
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