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.
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.
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.
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
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