The Securities and Exchange Commission (SEC) has issued a firm directive requiring all capital market operators in Nigeria to achieve full compliance with the Investments and Securities Act (ISA) 2025 by January 2026.
This significant announcement was made by the SEC Director-General, Dr. Emomotimi Agama, through the Commissioner of Operations, Bola Ajomale, during the 2025 Journalists' Academy held in Lagos on Wednesday.
New Regulatory Framework for Market Discipline
Dr. Agama emphasized that every individual or institution involved in selling tradable instruments must align with the commission's registration requirements within the stipulated timeframe. The gathering, themed 'the ISA 2025 and the Future of Nigeria's Capital Market: Innovation, Protection and Growth,' marked what regulators describe as a new era of discipline, transparency and innovation in Nigeria's financial system.
The SEC boss clarified that the ISA 2025 represents more than just an update to the 2007 legislation. He described it as a comprehensive, forward-looking policy blueprint designed to reposition the Nigerian market within an increasingly complex global financial environment.
Enhanced Powers and Investor Protection
For the first time, the law explicitly outlines the commission's mission to act in the public interest, safeguard investors, uphold fairness and transparency, prevent unlawful practices, curb systemic risk and support capital formation.
Agama highlighted that this heightened clarity strengthens regulatory authority while enhancing institutional accountability. It also eliminates interpretive gaps that previously complicated enforcement efforts and ensures the commission's activities better align with national economic priorities.
A major component of the ISA 2025 includes significant expansion of investigative authority. The Commission will now have capacity to probe not only entities directly regulated by it but also unrelated third parties when necessary to unravel market abuse or complex financial schemes.
Addressing Modern Financial Challenges
According to Agama, this new scope closes critical loopholes that had previously impeded investigations, signaling that the regulator is no longer constrained by outdated definitions or narrowly confined supervisory boundaries.
He described the new Act as the culmination of collective national resolve to modernize Nigeria's capital market architecture. The urgency for reform stems from several converging forces, including rapid growth of digital trading technologies, proliferation of fintech platforms and virtual assets, repeated exploitation of regulatory gaps by Ponzi-scheme operators, and increasing complexity of modern financing structures.
The SEC also cited the need for stronger alignment with global standards, particularly those of the International Organisation of Securities Commissions, as well as broader national objectives of deepening the capital market as a vital instrument of development.
With these enhanced tools, the SEC expects to respond more decisively to emerging threats and protect market integrity with greater precision, marking a transformative period for Nigeria's financial landscape.
