Nigeria’s House of Representatives begins moves to repeal and re-enact the country’s 69-year-old Trustee Investments Act, a 1957 law governing trustee investment activities.
Outlets describe the effort as part of a wider push to modernise the framework and broaden investment opportunities for trustees while adding stronger protections. Both reports also link the proposed reforms to problems they say currently hinder the sector, including fraud risks, fragmented property records, and gaps in consumer protection, particularly in real estate. Vanguard adds an emphasis on establishing a coordinated regulatory framework to address these issues, while The Punch focuses more generally on the legislative plan to review the statute and strengthen safeguards.
No details are provided in the supplied summaries about timelines, specific legislative text, or named stakeholders beyond references to the House’s role and leadership.
