Nigeria's National Assembly has recently approved an Investment and Securities Act aimed at strengthening the regulatory framework and combating fraudulent schemes.
The New Act and Its Impact
The Director General of SEC, Emomotimi Agama, expressed hope that once signed by the president, the law will provide greater oversight and tougher measures to combat fraudulent actions and maintain market integrity.
Investor Protection and Safety Measures
The Act proposes stricter penalties for those involved in fraudulent schemes, such as Ponzi, emphasizing the commission's commitment to protecting investors. Agama noted that 2025 would be a year of zero tolerance for unethical practices.
Market Development and Transparency
The commission aims at developing Nigeria's commodities market, which includes creating a favorable ecosystem for investments into the agrarian sector and other areas. Transparency and compliance with legal norms will be key in building investor confidence and ensuring market fairness.
Nigeria’s new Securities Act aims to strengthen the regulatory framework and protect investors from fraudulent schemes, ensuring market transparency and sustainability.
