By Ikugbadi Oluwasegun
President Bola Ahmed Tinubu has approved the amended Investment and Securities Act, ISA, 2024.
The Securities and Exchange Commission (SEC), which disclosed this, said the legislation strengthens the legal framework of the Nigerian capital market, enhances investor protection, and introduces critical reforms to promote market integrity, transparency, and sustainable growth.
“The new Act also introduces transformative provisions to further align Nigeria’s market operations with international best practice”.
The Act enhances the regulatory powers of the SEC in a manner comparable with benchmark global securities regulators. These enhanced powers and functions ensure full conformity with the requirements of IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU), enabling the SEC to retain its ‘Signatory A” status and enhancing the overall attractiveness of the Nigerian capital market”.
