Tinubu signs new investment law to boost Nigeria’s capital market
Tinubu signs new investment law to boost Nigeria’s capital market

President Bola Ahmed Tinubu has signed the Investment and Securities Act (ISA) 2024 into law, marking a significant step in Nigeria’s capital market reform.
The new law, which repeals the 2007 Investment and Securities Act, aims to strengthen the legal and regulatory framework for investments and capital market activities. The Securities and Exchange Commission (SEC), in a statement on Friday, described the presidential assent as a “transformative step” towards enhancing investor protection, improving market transparency, and fostering sustainable growth.
The SEC noted that the new legislation reaffirms its authority as the apex regulator of Nigeria’s capital markets and aligns local operations with international best practices. “The ISA 2024 reflects our commitment to building a dynamic, inclusive, and resilient capital market,” Emomotimi Agama, the SEC director-deneral, said.
One of the key reforms is the expansion of SEC’s regulatory powers to meet global standards, including maintaining its “Signatory A” status under IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU).
The law introduces structural changes such as classifying exchanges into Composite and Non-composite categories and establishing a legal framework for digital assets, commodities, and warehouse receipts. It also empowers sub-national governments to raise capital through the market, reduces systemic risks, and tackles Ponzi schemes with stiffer penalties.
Agama hailed the Act as a major boost for investor confidence, adding, “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 SEC also acknowledged the contributions of the National Assembly, the Finance Minister, and other stakeholders whose efforts shaped the law.
The ISA 2024 is expected to enhance investor protection, stimulate innovation, and promote economic diversification, making Nigeria’s capital market more attractive to local and international investors.