SEC mandates operators to comply with ISA 2025

The Securities and Exchange Commission (SEC) has directed all Capital Market Operators (CMOs) to declare their level of compliance with the Investments and Securities Act (ISA) 2025 and ensure that tradable instruments in their portfolios are fully registered by January 2026.

Director-General of the SEC, Emomotimi Agama, gave the directive on Wednesday at the Commission’s Journalists’ Academy 2025 held in Lagos.

Agama who was represented by the Commissioner of Operations, Bola Ajomale said the new Act places clear and non-negotiable obligations on operators, stressing that “anyone selling a tradable instrument must identify with the Commission and ensure its registration within the period.”

He emphasized that the SEC will enforce strict visibility of regulatory authorization across the market. All operators must publicly bear the SEC’s registration mark from January 2026, while issuers must ensure their instruments are SEC-approved. Any operator or issuer unable to confirm SEC registration, he warned, will be deemed to be operating illegally.

According to him, ISA 2025 marks one of the most significant overhauls of Nigeria’s capital-market framework in nearly two decades, providing the legal architecture required to deepen the market, enhance regulatory efficiency, and align Nigeria with global best standards.

“If we get this right, ISA 2025 will serve as a powerful foundation for the capital market Nigeria needs and deserves which is a deep, efficient, innovative, and globally competitive market,” he said.

Agama emphasized that “The ISA 2025 is more than a replacement for the 2007 Act. It is a forward-looking instrument designed to reposition Nigeria’s capital market for a rapidly changing world,” explaining that the Act strengthens the Commission’s mandate in explicit terms, a major shift from the older framework which left gaps that complicated enforcement and slowed regulatory response to market abuse.

“For the first time, the Act explicitly sets out the regulatory objectives, functions, and powers of the Commission including acting in the public interest, protecting investors, maintaining fair and transparent markets, preventing unlawful practices, reducing systemic risk, and supporting capital formation,” Agama stated.