The Securities and Exchange Commission (SEC) has tasked the Capital Market Committee with accelerating the implementation of the Investments and Securities Act 2025. The Commission's Director-General, Dr. Emomotimi Agama, disclosed this at the CMC's first quarterly meeting for 2025 in Lagos.

He described the ISA 2025 as a game-changer for the capital market in Nigeria, which will reposition it for global competitiveness, attract investments, deepen liquidity and onboard a new class of young investors through the digital assets space.

Dr Agama said to the CMC, “You should drive innovation and compliance, ensuring that both new and existing market products meet the high standards outlined in the ISA 2025.” 

“I am pleased to inform you that the Commission has already constituted an implementation team tasked with a thorough and practical engagement with every provision of the Investment and Securities Act (ISA) 2025. This is to ensure that the objectives of the new law are not only achieved but also translated into tangible benefits for market participants. Our goal is to restore investor confidence, bring timely relief to aggrieved investors, and create a platform for the broad-based participation of Nigerians in wealth creation,” he added.

The SEC DG also noted that a dedicated sensitisation team has been set up beyond implementation, and in a bid to deepen public understanding, the Commission launched a podcast series. He believed that these steps and platforms would begin to roll out simplified content that unpacks the ISA 2025, making it accessible and understandable to all Nigerians.

He reported that between January and December 2024, the Securities and Exchange Commission approved a total of N3.68 trillion in new issues. This comprised N59.82bn in fixed income issuances and ₦3.62trn in equities, reflecting strong investor appetite and issuer confidence in the equity segment of our market. Also, in the period spanning January to April 2025, we have so far approved new issues valued at approximately N446.38bn. Of this amount, N265.90bn was raised through fixed income instruments, while N180.48 billion was mobilised via equities.

Speaking on the 2015-2025 Revised Capital Market Masterplan, he acknowledged significant initiatives that have improved market operations, depth, and sophistication. He informed the CMC of plans to develop a new Masterplan that will integrate the previous plan’s 85% implementation level. He called on the Capital Market Operators to participate in the capital market’s e-survey, stating, “With our current plans to initiate a new Masterplan, this data on adoption, user trends, and demographic shifts will provide valuable insights to guide the medium to long-term strategy for the Commission & the Market.”

He directed all registered Fund managers to submit accurate quarterly data on the ownership structure. According to him, these statistics are essential not only for monitoring market diversity and governance but also for informing Nigeria’s balance of payments position. “A healthy balance of payments signals robust external financing and fosters investor confidence, attracting long-term capital inflows.”

In her remarks at the Capital Market Committee Meeting, the Minister of State, Finance, Dr. Doris Anite Uzoka, described the Nigerian capital market as a critical driver of Nigeria’s ambition of becoming a $1trn economy. According to her, “The capital market is the engine through which long-term finance must be mobilised to power critical sectors, from infrastructure to housing, technology, energy, and industrial growth.”

She lauded the new Investment and Securities Act, 2025, as another critical milestone in the journey to modernising the legal and regulatory framework governing the capital market, streamlining enforcement mechanisms, and providing clarity on emerging areas such as digital assets, derivatives, crowdfunding and Ponzi schemes, thereby boosting investor confidence and market innovation.

The Minister acknowledged the impact of the 2015-2025 Capital Market Masterplan, which led to the introduction of new products and platforms, a stronger regulatory environment, and growing investor participation, all of which have served as significant building blocks for a more resilient Nigerian economy. She urged all operators and stakeholders to take full ownership of the revised Master Plan and prepare for the development of the next plan.

She added, “The capital market must not only serve for capital raising but also as a vehicle for wealth creation, economic inclusion, and long-term national resilience. Every investment made through this market must translate to real economic impact, jobs, infrastructure, and livelihoods.”

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