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Section 32 Nigeria Startup Act 2022

Section 32 Nigeria Startup Act

Section 32 Nigeria Startup Act 2022 is about Crowdfunding. It is under Part VIII (Collaboration with Regulators) of the Act.

(1) Startups may raise funds through crowdfunding intermediaries and commodities investment platforms (“platforms”) duly licensed by the Securities and Exchange Commission (SEC) that would have their platforms available for use by startups on the Startup Portal.

(2) The Council shall provide recommendations and proposals to SEC and collaborate towards ensuring that SEC considers rules that fast-track crowdfunding processes for labelled startups.

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