ISA 2024 Lauded as Catalyst for Economic Growth and Market St...

Samuel Mobolaji

Financial market experts have hailed the newly enacted Investment and Securities Act (ISA) 2024 as a landmark reform poised to deepen investor confidence, attract foreign capital, and reposition Nigeria’s capital market as a driver of sustainable economic growth.

Signed into law by President Bola Tinubu in March 2025, the ISA repeals the 2007 version and introduces far-reaching provisions aimed at modernising regulatory oversight, protecting investors, and enhancing the efficiency of market operations.

Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, described the Act as a transformative step towards building a dynamic and resilient financial market that can support Nigeria’s economic diversification agenda. “The ISA 2024 reflects our resolve to close regulatory gaps, foster innovation, and attract both local and internat c ional investment,” he said.

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President and Chairman of Council at the Chartered Institute of Stockbrokers (CIS), Oluropo Dada, noted that the Act will significantly boost transparency and expand investment opportunities. “It is a testament to our commitment to creating a robust financial ecosystem. This law will deepen market integrity and strengthen Nigeria’s position in the global investment community,” he stated.

Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Sam Onukwue, called the ISA a game-changer. He said its provisions would not only reinforce investor protection but also broaden the scope of financial instruments, particularly in commodities and digital assets. “This law will restore confidence and open new pathways for growth beyond equities and bonds,” he added.

Managing Director of NASD, Mr Eguarekhide Longe, highlighted the law’s alignment with global market trends. He emphasised its recognition of digital assets as securities and its potential to integrate technology-driven investment products, making the market more accessible to younger, tech-savvy investors.

Also speaking, the Managing Director of the Lagos Commodities and Futures Exchange (LCFE), Mr Akin Akeredolu-Ale, noted that the ISA 2024 reinforces the role of the capital market as a barometer of economic health. “A sound legal framework is essential for long-term development. This Act provides the structure needed to build investor trust and sustain market-driven economic progress,” he said.

With expanded regulatory powers for the SEC, enhanced investor protection mechanisms, and a legal framework for commodities and digital finance, the ISA 2024 is widely seen as a bold step towards unlocking the full potential of Nigeria’s capital market in driving economic transformation.