By Ade Iyamoye
President Bola Tinubu has signed the Investments and Securities Act 2024 into law, replacing the 2007 version and introducing major reforms aimed at strengthening Nigeria’s capital market.
According to the Securities and Exchange Commission, the new legislation enhances investor protection, improves market transparency, and aligns Nigeria’s financial sector with global best practices.
Director General of the SEC, Dr Emomotimi Agama, described the law as a transformative step that empowers the commission to drive innovation, enforce regulations, and attract both local and foreign investors.
Key provisions of the Act include the classification of securities exchanges, the recognition of virtual assets, stricter penalties for Ponzi schemes, and expanded regulatory powers for the SEC.
It also introduces measures to monitor systemic risks and streamline insolvency laws for market transactions.
Agama commended the National Assembly, the Ministry of Finance, and other stakeholders for their support, emphasizing that the Act will boost economic growth and investor confidence in Nigeria.
