Tinubu Signs Ammended Investments and Securities Bill into Law

President Bola Ahmed Tinubu has signed into law the Investment and Securities Act (ISA) 2024, a comprehensive legislation aimed at strengthening the legal and regulatory framework for investments and capital market activities in Nigeria into law.

The new law, which repeals the former Investments and Securities Act No. 29 of 2007, is expected to enhance investor protection, improve market transparency, and foster sustainable growth in the country’s capital market.

The Securities and Exchange Commission (SEC), the apex regulator of Nigeria’s capital markets, has hailed the presidential assent as a “transformative step” towards achieving these goals.

The ISA 2024 introduces significant reforms designed to align local operations with international best practices, including the expansion of SEC’s regulatory powers to meet the standards of global bodies such as the International Organization of Securities Commissions (IOSCO).

This enhanced regulatory framework will enable the SEC to maintain its “Signatory A” status under IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU), a critical benchmark for credibility in global financial markets.

SEC Director-General, Dr. Emomotimi Agama, described the President’s assent as a significant boost for investor confidence and capital market development.

“The ISA 2024 reflects our commitment to building a dynamic, inclusive, and resilient capital market,” said Dr. Agama. “By addressing regulatory gaps and introducing forward-looking provisions, the new Act empowers the SEC to foster innovation, protect investors more efficiently, and reposition Nigeria as a competitive destination for local and foreign investments.”

The ISA 2024 is expected to spur renewed interest in Nigeria’s capital markets from both local and international investors, creating a clearer regulatory framework for emerging asset classes and improving investor protection mechanisms. The law provides a more level playing field for issuers, exchanges, and operators, while giving regulators the tools they need to clamp down on bad actors and illegal schemes.

With the signing of the ISA 2024 into law, Nigeria takes a significant leap forward in its journey towards building a world-class capital market that is inclusive, innovative, and resilient. As the country continues to navigate the complexities of the global economy, this landmark legislation is poised to play a critical role in shaping the future of Nigeria’s capital market and driving economic growth and development.