Game Changer for Nigeria: Capital market leaders hail ISA 2025 as key to $1 trillion economy

At the 2025 Annual Business Summit of the Capital Market Solicitors Association (CMSA) held in Lagos recently, top Nigerian financial, legal, and regulatory leaders gathered in Lagos to deliberate on the immense benefits of the Investment and Securities Act (ISA) 2025, describing it as a transformative milestone for the country’s economy.

Themed “Innovations and Opportunities in the Nigerian Capital Market,” the summit brought together regulators, lawyers, investors, commodity traders, and government officials who described the law as a historic step toward modernising Nigeria’s financial system and expanding market access.

In his opening remarks, the CMSA Chairman, Odiaka Iweze, described the legislation as more than just an upgrade, but a new foundation for innovation. “The ISA 2025 offers new pathways for real estate tokenisation, infrastructure financing, fintech-backed platforms, and sustainable energy investment,” he said.

With over 70 million Nigerians under age 30 and less than 5% currently participating in the capital market, the growth potential is undeniable.
CMSA Vice Chair Simisola Eyisanmi described the timing of the legislation as critical. “We are no longer speculating on reform—ISA 2025 has codified it. This Act has blown the doors wide open for virtual securities, bilateral markets, commodity exchanges, and regulatory clarity.” she said. “This is our chance to shape a $1 trillion economy. We must seize this moment,” Eyisanmi added.

Delivering the keynote address on behalf of the Minister of State for Finance, Dr. Doris Uzoka–Anite, Mr. Peter Olusegun Awoyemi described the new legislation as a turning point for Nigeria’s financial sector. “The unveiling of the Investment and Securities Act 2025 represents more than legislative housekeeping—it is a transformational moment. This new legislation arrives at a critical juncture when Nigeria must compete for capital, defend investor confidence, and align with global best practices.

The Minister outlined several strategic innovations embedded in ISA 2025:

• Expanded Regulatory Scope: SEC will now regulate digital asset exchanges, crowdfunding platforms, and online forex intermediaries.
• Investor Protection: Stronger penalties for Ponzi scheme sponsors and improved whistleblower protections.
• Fintech and Market Infrastructure: Recognition of electronic warehouse receipts, collateral management firms, and technology-driven systems to boost commodities trading and financial inclusion.
• Clearer Frameworks for Collective Investment Schemes: Encouraging private equity, venture capital, and innovative financing structures.
• Improved Dispute Resolution: Enhancing investor confidence and enforcing rights.

“These reforms mirror global trends,” and Nigeria has joined the league of countries that have integrated digital asset exchanges into their regulatory frameworks, the Minister noted.

Concluding her address, the Minister of State for Finance reaffirmed the government’s commitment to improving the ease of doing business, enhancing macroeconomic stability, and creating a more attractive environment for investors. “We will continue to partner with stakeholders such as the CMSA to ensure these reforms translate into measurable results—growth in listings, increased liquidity, greater retail participation, and stronger investor confidence,” she said.

A key highlight of the summit was the potential of the ISA 2025 to support other critical sectors, particularly energy.

Johnson Akinnawo, Managing Director of Nigerian Bulk Electricity Trading Plc (NBET), described how aligning the ISA with the Electricity Act 2023 could revolutionise Nigeria’s troubled power sector. NBET plans to establish a day-ahead energy exchange platform using artificial intelligence to ensure secure, transparent electricity trading between willing buyers and sellers.

“This is about building a financial system that makes energy bankable and investible,” Akinnawo said, noting that Nigeria’s power sector currently faces over ₦4 trillion in debts and chronic transmission and distribution bottlenecks.

Contributing to the conversation, the Director-General of the Securities and Exchange Commission (SEC) Dr. Emomotimi Agama described ISA 2025 as Nigeria’s most comprehensive capital market legislation to date, but cautioned that its success depends on real-world execution.

“It allows Nigeria to sit at the same table with the U.S. SEC, UK FCA, and other global regulators,” adding that the law would mean nothing if not executed.

Agama called on legal professionals, brokers, and investment houses to study the Act carefully and identify their role in making it a reality.

The ISA 2025 is not just another law on the books—it’s a call to action for Nigeria to build a more modern, inclusive, and globally competitive capital market. The message from Lagos was clear: the blueprint is here. Now it’s time to build.