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About Membership

CMSA has over 50 members located across the country from both the sell and buy-side of the market.

As members of CMSA, firms become part of a community with access to a pool of expert professional market knowledge and are kept regularly informed of trends and developments in their industry by the Association.

Through members’ representation on CMSA’s various professional committees and working groups, members actively participate in shaping the market’s future. Collectively, CMSA members have a very real voice in the representation of the market that is listened to by regulators and governmental agencies alike. Contacts with members are also made regularly through various CMSA forums such as annual business luncheons, seminars/events and at CMSA’s members fora.

CMSA’s membership consists of full and associate members. Full Membership is available to Law Firms registered with the Securities and Exchange Commission. Member Firms are required to be represented by a Partner in the Firm or any individuals in the Firm sponsored by the Firm for the purpose of registration with the Securities and Exchange Commission or a Senior Associate with a minimum of 7 years post call experience.

Associate Membership is available to legal practitioners who are employed by duly licensed Capital Market Operators. Subject to the approval of his/her membership, an individual legal practitioner may become an Associate Member of the Association. However, Associate Membership would only be retained by an individual legal practitioner after disengagement from his/her current employer if the subsequent employer is a Capital Market Operator.

This section of the web site includes an overview of the general benefits of membership; and provides details of eligibility for CMSA membership and how to apply to become an CMSA member firm.

Benefits of Membership

Membership of the Capital Markets Solicitors Association affords members the following benefits amongst others.


The Association seeks out various avenues for members to enhance their professional relationships and be appraised of activities and trends in the capital market. This is achieved through the organization of training sessions, workshops, seminars, Members’ Fora and Annual Business Luncheons.

Annual Business Luncheon – This is the CMSA’s main event in each year and it targets solicitors, regulators and other participants in the sector. Each Business Luncheon has a theme carefully selected to examine topical issues in the capital market.

Members’ Fora – Geared towards capacity building for members, the Association organizes quarterly Members’ Fora, sponsored by member firms. Each Members’ Forum features the selection of topical issues, which are discussed and debated on. Oftentimes, the event takes the form of a workshop or training session.

Members’ Lunches – Introduced in 2009, the Members’ Lunches are billed to hold monthly and feature seasoned capital market practitioners invited to address members of the Association on topical issues of their choice in the Market. The Members’ Lunch is a veritable platform for interaction between members of the Association and with the carefully selected market participants that are invited to speak on these occasions.


The Association provides members with regular updates on activities and developments in the capital market and on capital market regulations and changes therein.


The Association is recognized by the Securities and Exchange Commission (SEC), the primary regulator for the capital market in Nigeria, as a registered trade group representing the interests of Solicitors engaged in capital markets law and practice and plays a strategic role in the development of the capital market. The Association has the privilege of being consulted by SEC on a wide range of capital market issues and is represented on SEC’s Administrative Proceedings Committee and on all the sub-committees of SEC’s Capital Markets Committee, amongst others. Members of the Association are also regularly invited to represent Solicitors at national or sector based committees, or to make contributions with respect to the drafting of regulations and legislation, the review of policies and to proffer opinions on issues appurtenant to developing the capital market in Nigeria.


The Association’s Continuing Legal Education (“CLE”) Programme is a formal educational initiative developed for capital market solicitors. The Programme is geared towards deepening the knowledge and developing the capacity of legal practitioners seeking to specialize in capital markets law and practice in Nigeria and will assist in meeting the demands of an evolving capital market. Members of the Association will be offered substantial rebates on the cost of courses undertaken under the Programme.


Full members of the Association are eligible to contest elections into any office in the Executive Committee of the Association. Members are also eligible to be appointed or elected into any of the Standing Committees of the Association.

What You Need to Know
  1. The Capital Market Solicitors Association (CMSA) is only open to Law Firms or lawyers in paid employment who are registered as Capital Market Consultants with the Securities and Exchange Commission (SEC). Thus, the first step for your Firm or Company is to be registered with SEC.
  2. Once registered with SEC, an application letter will be sent to the CMSA along with:
    • Completed CMSA Membership Form (to be sent by CMSA secretariat);
    • Evidence of payment of admission fee and annual dues;
    • Evidence of registration of the Firm as a Capital Market Consultant with SEC;
    • Copy of the certificate of registration of the Firm with CAC; and
    • Evidence of the payment of the current Bar practicing fee of each sponsored individual;
  3. Upon receipt of the Application Form, the Executive Committee will consider the application within 2 weeks. Once successful, the Firm would be informed or there may be a request for further documents.

If you require any further clarification, please send an email to

Ways to Get Involved

This list is intended to be a starting point for identifying meaningful contributions a member can make to CMSA. Through your commitment and efforts, CMSA will continue to make a positive impact in Nigeria.

  • Participate on a CMSA committee
  • Help plan the annual business luncheon as part of the Luncheon Planning Committee
  • Be a speaker or be a compere at CMSA’s events
  • Write an article for the CMSA Newsletter
  • Encourage other solicitors engaged in capital market work to join CMSA
  • Serve on different committees of the CMSA
  • Mentor another member
  • Commit to remaining an active member of CMSA
  • Market and publicize CMSA in your organization
  • Be a speaker at a Members Lunch, Seminars and training programmes
  • Assist the Program Committee in recruiting speakers for luncheons and mini-courses
  • Donate funds to CMSA
  • Teach another member a new skill
  • Serve on the CMSA Executive Committee
Membership Fee

The  membership fee is ₦50,000 per year for full and associate membership.

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