By ebosele@hotmail.com. —
The Securities and Exchange Commission (SEC) has directed all Capital Market Operators (CMOs) to state their level of compliance and ensure that all tradable instruments are duly registered in line with the Investments and Securities Act (ISA) 2025 by January 2026.
The Director-General of the Commission, Dr. Emomotimi Agama, issued the directive on Wednesday in Lagos during the 2025 edition of the SEC Journalists’ Academy, themed “The ISA 2025 and the Future of Nigeria’s Capital Market: Innovation, Protection, and Growth.”
Agama, who was represented by the Commissioner of Operations, Mr. Bola Ajomale, emphasised that anyone selling a tradable instrument must identify with the Commission and complete the required registration within the stipulated timeframe.
He described the ISA 2025 as a transformative and forward-looking legislation designed to reposition Nigeria’s capital market for global competitiveness. According to him, the Act is more than an update to the 2007 law; it represents a bold step toward building a deep, efficient, innovative, and investor-focused market.
“If we get this right, ISA 2025 will serve as a powerful foundation for the capital market Nigeria needs and deserves,” he said.
Agama noted that the ISA 2025 strengthens the SEC’s mandate to protect investors, maintain fair and transparent markets, prevent unlawful practices, reduce systemic risk, and support capital formation. For the first time, he explained, the Act clearly outlines the Commission’s regulatory objectives, functions, and enforcement powers—an improvement that enhances accountability and aligns the SEC’s work with national economic goals.
He added that the Act significantly expands the Commission’s investigative authority, enabling it to probe not only regulated entities but also unrelated third parties where necessary. This, he said, closes major loopholes that previously hindered investigations into market abuse and complex financial schemes.
“With these provisions, the SEC is no longer constrained by outdated definitions or narrow supervisory boundaries. The regulator now has modern tools to protect the integrity of the market,” he stated.
Agama also highlighted the evolving dynamics that made the reform imperative, including the rise of digital trading, fintech platforms, virtual assets, and the inadequacies of the previous Act in tackling Ponzi schemes, systemic risks, and new financing models. The review, he noted, was also driven by the need for stronger alignment with IOSCO standards and the goal of deepening the capital market as a catalyst for national development.
The SEC boss affirmed that the ISA 2025 reflects a collective commitment to modernising Nigeria’s capital market architecture and ensuring stronger investor protection in an increasingly complex financial environment.
