Reps move to reform 69-year-old Trustee Investment Act

Nigeria’s House of Representatives has begun considering a bill to repeal and replace the Trustee Investments Act of 1957. Speaker Tajudeen Abbas, represented at a public hearing in Abuja by Dahiru Abubakar Sarki, said the reform should modernise the legal framework while protecting beneficiaries and investors. Sponsored by Solomon Bob, the bill proposes stronger safeguards, clear fiduciary duties and appropriate regulatory oversight. Abbas also called for a coordinated national real estate regulatory system to combat property fraud and institutional overlap.