Nigeria, Nov. 2 -- The House of Representatives has proposed limiting trustees' investments in a single issuer to 20 per cent of a trust fund's portfolio to reduce exposure to financial risks and protect beneficiaries' assets.

The proposal is contained in the Trustee Investment Bill, 2026 (HB 2762), which seeks to replace the existing Trustee Investment Act of 1957 with a modern legal framework for managing trust assets.

The bill also proposes expanding the range of financial instruments trustees can invest in, introducing stricter fiduciary obligations, and strengthening reporting and regulatory oversight.

Chairman of the House Committee on Capital Market and Institutions, Solomon Bob (APC, Rivers), disclosed the proposed investment l...