SEC Rolls Out New Investment Law

Nigeria’s capital market regulator, the Securities and Exchange Commission (SEC), has kicked off the implementation of the newly enacted Investments and Securities Act (ISA) 2025, marking a major shift in the country’s financial regulatory landscape.

Following presidential assent to the new law in March, which officially replaces the outdated ISA 2007, the SEC has set up an implementation taskforce to drive its execution. According to the Commission’s Director-General, Dr. Emomotimi Agama, this move will help ensure the Act’s provisions are fully applied and understood across all sectors of the financial ecosystem.

Dr. Agama emphasized that one of the Act’s central missions is to safeguard investors and crack down on fraudulent schemes. “We are fully committed to eliminating Ponzi operations and similar scams. The new law gives us the tools and authority we need to act swiftly and decisively,” he said.

He added that the Commission has gone beyond internal efforts by launching a dedicated public education campaign. This includes a sensitisation team and a newly introduced podcast designed to unpack and simplify the key components of the ISA 2025 for a wider audience.

“We’ll be reaching every relevant stakeholder—investors, listed firms, capital market operators, enforcement bodies, legal institutions, and the general public—because a law is only as powerful as the understanding of those it affects,” Agama said.

Among the groundbreaking features of the Act is the inclusion of virtual assets—such as cryptocurrencies—under the definition of securities. This brings digital asset platforms and operators into the regulatory fold, requiring them to meet investor protection and compliance standards.

The Act also broadens the scope of what qualifies as a security, ensuring that modern investment structures are adequately covered by law. These reforms aim to make the Nigerian capital market more resilient, transparent, and attractive to both local and international investors.

Dr. Agama concluded that the updated law reinforces Nigeria’s global standing as a capital market leader, especially as a full member of the International Organisation of Securities Commissions. “This legislation is a game changer. It empowers us to protect investors more effectively, inspire confidence in the market, and attract sustainable foreign investment,” he said.