The Securities and Exchange Commission (SEC) and the Nigerian Exchange Group (NGX Group) have affirmed that the newly enacted Investments and Securities Act (ISA) 2025, signed into law by President Bola Tinubu, will play a pivotal role in driving Nigeria’s economic growth and deepening capital formation across the financial markets.
The regulators made this known at the 2025 Capital Market Correspondents Association of Nigeria (CAMCAN) workshop held in Lagos, themed “Regulatory Reforms: ISA 2025 and Nigeria’s Investment Climate.”
In his keynote address, the SEC Director-General, Mr. Emomotimi Agama—represented by the Lagos Zonal Head, John Briggs—described ISA 2025 as a comprehensive reform framework aimed at modernising the regulatory environment, strengthening governance structures, attracting investment, and repositioning Nigeria’s capital market to compete effectively in a dynamic global economy.
Agama noted that the theme of the workshop reflects the critical role of regulatory reforms in shaping the nation’s investment climate, stressing that ISA 2025 stands at the heart of Nigeria’s capital market transformation agenda.
According to him, the new law aligns the market with the International Organization of Securities Commissions (IOSCO) standards and is designed to build a deeper, more resilient, and globally competitive market.
“One of the most transformative aspects of the ISA 2025 is the clarity it brings to the mandate of the Securities and Exchange Commission,” he said. “For the first time, the Act explicitly sets out the regulatory objectives, functions, and powers of the Commission—including acting in the public interest, protecting investors, maintaining fair and transparent markets, preventing unlawful practices, reducing systemic risks, and supporting capital formation.”
He highlighted a major conceptual shift: the expansion of SEC’s oversight from solely “Capital Market Operators” to a wider class of “regulated entities,” including digital and virtual asset exchanges, warehouse operators and receipt systems, derivatives and commodities platforms, and market infrastructure providers.
Agama added that, for the first time, the SEC is empowered to identify market-wide vulnerabilities, collaborate with other regulators during financial stress, take pre-emptive actions to prevent contagion, and safeguard the stability of systemically important institutions.
For investors, he said ISA 2025 delivers a more resilient, predictable, and shock-resistant investment environment. Importantly, the Act clamps down more decisively on Ponzi schemes by granting the SEC authority to seal illegal investment operations and impose criminal sanctions.
“These reforms protect retail investors, deepen the fund-management industry, and encourage genuine collective investment schemes capable of mobilising long-term capital,” he said. “This is a strong boost to investor confidence and Nigeria’s investment climate.”
Agama called for collective responsibility from all stakeholders to ensure successful implementation through collaboration, capacity building, and strict adherence to the provisions of the Act.
Also speaking, Chairman of the Nigerian Exchange Group, Alhaji Umaru Kwairanga, said the ISA 2025 reform era marks a significant step forward in strengthening market governance, enhancing investor protection, and improving overall market competitiveness.
“These reforms are not merely regulatory updates; they are foundational shifts designed to modernize our capital market architecture, attract deeper pools of capital, and position Nigeria as a top-tier investment destination in Africa and globally,” he said.
Kwairanga
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