The Securities and Exchange Commission has issued a directive to all Capital Market Operators, requiring them to declare their compliance status and ensure that every tradable instrument under their management is fully registered in line with the Investments and Securities Act 2025 by January 2026. This move aims to strengthen the regulatory foundation of Nigeria’s capital market and promote transparency and fairness.
The Director‑General of the SEC, Emomotimi Agama, announced the directive at the Commission’s Journalists’ Academy 2025 in Lagos. Represented by the Commissioner of Operations, Bola Ajomale, Agama emphasized the importance of aligning with the updated standards. He noted that the new Act provides a stronger regulatory framework, placing clear responsibilities on operators to register with the Commission and complete the required process within the stipulated period.
The ISA 2025 is designed to reposition Nigeria’s capital market for a rapidly changing world, focusing on innovation, protection, and growth. It strengthens investor protection, empowers market operators, and enhances the SEC’s ability to ensure transparent and fair market practices. The reform became necessary due to the rise of digital trading and fintech, and the ISA 2025 aligns Nigeria’s capital market regulation with global best practices while addressing local challenges and systemic risks.
One key aspect of the ISA 2025 is the clarity it brings to the mandate of the Securities and Exchange Commission, explicitly setting out the regulatory objectives, functions, and powers of the Commission. This clarity strengthens regulatory authority, enhances institutional accountability, eliminates ambiguities that previously complicated enforcement actions, and improves alignment of the SEC’s work with national economic goals.
The Act also expands the Commission’s investigative capacity, allowing it to investigate unrelated third parties when necessary for enforcement. This closes a major loophole that hindered previous investigations into market abuse and complex financial schemes, providing the SEC with modern tools to protect market integrity.
Overall, the ISA 2025 represents a collective resolve to modernize the capital market architecture, driven by the rise of digital trading, fintech platforms, virtual assets, and the need for stronger alignment with IOSCO standards. The SEC’s directive is a significant step toward deepening Nigeria’s capital market and promoting economic development. With the January 2026 deadline approaching, Capital Market Operators are expected to take immediate action to ensure compliance with the new regulations.
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