The Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, has described the newly signed Investment and Securities Act (ISA) 2025 as a transformative step toward realising President Bola Ahmed Tinubu’s vision of a $1 trillion economy by 2030.
The new law, which repeals the Investment and Securities Act 2007, introduces key reforms aimed at strengthening investor confidence, enhancing market oversight, and aligning Nigeria’s financial markets with global standards.
Tinubu had pledged during his 2023 presidential campaign to expand Nigeria’s economy significantly, positioning it as a major global financial hub.
Speaking to journalists at the National Assembly on Wednesday, Izunaso, who sponsored the legislation, described the Act as a sweeping reform of Nigeria’s financial regulatory framework.
According to him, a defining feature of the law is the official recognition of digital assets, including cryptocurrency, as securities.
He noted that this move would bring Nigeria’s growing digital asset market under the regulatory oversight of the Securities and Exchange Commission (SEC), ensuring transparency, investor protection, and a structured pathway for cryptocurrency trading.
“For the first time in our history, digital assets are now recognised as legitimate securities,” Izunaso said. “Nigeria ranks among the top three countries globally in cryptocurrency transactions. With this new regulatory framework, we can now harness its full economic potential.”
He also highlighted the Act’s tough stance on financial fraud, particularly Ponzi schemes and insider trading, which have caused significant losses to Nigerian investors. “
Operators of Ponzi schemes now face up to 10 years in prison, fines ranging from ₦20 million to ₦40 million, and mandatory recovery of stolen funds,” he said. “This law makes it impossible for fraudsters to escape justice.”
He added that SEC’s expanded oversight would ensure that perpetrators of financial crimes are caught, prosecuted, and held accountable.
Izunaso further explained that the Act allows state and local governments to raise funds through the capital market to finance infrastructure projects, reducing their reliance on federal allocations and commercial loans.
“With this reform, we are opening new doors for states and local governments to finance critical projects without overburdening the federal budget,” he said.
The Act also aligns Nigeria’s capital market with International Organization of Securities Commissions (IOSCO) standards, boosting the country’s global financial credibility and attracting foreign investment. Additionally, it strengthens the Investment and Securities Tribunal, ensuring the swift resolution of capital market disputes.
“With the Investment and Securities Act now in effect, President Tinubu has laid the groundwork for economic transformation,” Izunaso said.
“By modernising Nigeria’s investment laws and ensuring financial market stability, the administration is reinforcing the foundation for a thriving economy.”
