A financial technology firm, Sycamore, has secured a licence from Nigeria’s Securities and Exchange Commission (SEC) to operate as a fund/portfolio manager.
It has also appointed a former ARM Securities Managing Director, Oluwagbenga Magbagbeola, to lead its asset management arm.
Sycamore with over N10 billion in assets under management, noted that the SEC license places it among a select group of regulated investment firms in Nigeria’s competitive financial sector.
Sycamore Group Chief Executive Officer, Babatunde Akin-Moses, said: “Securing our SEC license represents the culmination of years of building institutional-grade compliance systems that protect investor interests. With this regulatory foundation and Oluwagbenga’s proven investment expertise, we are uniquely positioned to deliver performance and security to investors navigating Africa’s complex market conditions.”
Reinforcing this commitment, Co-founder and CCO, Onyinye Okonji, noted: “This milestone reflects our commitment to operating at the highest standards of financial governance. Our team underwent a rigorous evaluation process, during which regulators examined our governance structures, risk management frameworks, and client protection mechanisms.”
The firm said Magbagbeola joins Sycamore with 17 years of capital markets experience, spanning roles at ARM Securities, FBNQuest Securities and Profund Securities.
According to it, at ARM Securities, Magbagbeola led the development of investment strategies that consistently performed against market benchmarks during challenging economic cycles, including Nigeria’s recent periods of currency volatility and inflation.
“Joining Sycamore allows me to bridge traditional capital markets expertise with fintech innovation at precisely the right time,” said Magbagbeola, adding that “the SEC licence creates a regulatory framework for what many Nigerians are already seeking – protected pathways for investment diversification during economic uncertainty”.
Empowering its institutional approach is Sycamore’s cutting-edge technology infrastructure. Co-founder and COO, Mayowa Adeosun, explained, “Our proprietary investment platform represents years of innovation in applying financial technology to local market conditions.
“We have leveraged artificial intelligence and machine learning to analyse market trends and optimise portfolio allocations across multiple asset classes, resulting in more responsive investment strategies tailored to Nigeria’s dynamic market conditions.”
