Crime
President Tinubu Signs Investments, Securities Act 2024 into law

President Tinubu Signs Investments, Securities Act 2024 into law
President Tinubu signs investments, securities act 2024 into law. The new Act also introduces transformative provisions to further align Nigeria’s market operations with international best practice.
President Bola Tinubu has assented to the Investments and Securities Act (ISA) 2024, which repeals the Investments and Securities Act No. 29 of 2007.
The landmark legislation strengthens the legal framework of the Nigerian capital market, enhances investor protection and introduces critical reforms to promote market integrity, transparency and sustainable growth.
This is according to a statement by the Securities and Exchange Commission (SEC) on Saturday.
The enactment of the ISA 2024 reaffirms the authority of the SEC as the apex regulatory authority of the Nigerian Capital Market.
The new Act also introduces transformative provisions to further align Nigeria’s market operations with international best practice.
The statement read in part, “The Securities and Exchange Commission (SEC) is pleased to announce that President Bola Tinubu has assented to the Investments and Securities Act (ISA) 2024, which repeals the Investments and Securities Act No. 29 of 2007.”
Commenting on the development, Director-General of the SEC, Dr Emomotimi Agama, lauded the President’s assent as a transformative step for the capital market.
Mr Agama said, “The ISA 2024 reflects our commitment to building a dynamic, inclusive and resilient capital market. By addressing regulatory gaps and introducing forward-looking provisions, the new Act empowers the SEC to foster innovation, protect investors more efficiently and reposition Nigeria as a competitive destination for local and foreign investments.
We commend stakeholders within and outside the capital market community for their unwavering solidarity towards the achievement of this historic milestone.
“We solicit their continued collaboration in respect of the effective implementation of the ISA 2024 for the benefit of our economy. SEC extends its profound appreciation to the National Assembly for its patriotism and dedication in enacting this new legal framework for the Nigerian capital market.”
Mr Agama noted that the meticulous deliberations, extensive stakeholder engagements and bi-partisan support demonstrated throughout the legislative process highlighted the National Assembly’s resolve to foster economic growth and enhance investor confidence.
He said, “We also commend the honourable Minister of Finance and Coordinating Minister of the Economy of Nigeria as well as the Minister of State for Finance for their invaluable contributions to the realisation of this groundbreaking project.
Their strategic guidance, policy expertise and steadfast support have ensured that the ISA 2024 aligns with Nigeria’s broader economic objectives. The SEC would continue to engage with market operators, investors, and all stakeholders to ensure a seamless transition from the repealed ISA 2007 to the new legal regime established under the ISA 2024.”
The Act enhances the regulatory powers of the SEC in a manner comparable with benchmark global securities regulators.
These enhanced powers and functions ensure full conformity with the requirements of IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU), enabling the SEC to retain its “Signatory A” status and enhancing the overall attractiveness of the Nigerian capital market.
Other notable provisions of the ISA 2024 include classification of Exchanges and inclusion of provisions on Financial Market Infrastructures
The Act classifies securities exchanges into composite and non-composite exchanges.
A composite exchange is one in which all categories of securities and products can be listed and traded, while a non-composite exchange focuses on a singular type of security or product.
There are also new provisions on financial market infrastructures such as central counterparties, clearing houses and trade depositories.
The Act explicitly recognises virtual/digital assets and investment contracts as securities and brings Virtual Asset Service Providers (VASPs), Digital Asset Operators (DAOPs) and Digital Asset Exchanges under the SEC’s regulatory requirements.
It introduces provisions that exempt transactions facilitated through or otherwise involving Financial Market Infrastructures from the application of general insolvency laws.
The Act introduces provisions for the monitoring, management and mitigation of systemic risk in the Nigerian capital market.
The Act expands the categories of issuers, as a key step towards the introduction of a wide range of innovative products and offerings as well as the facilitation of “commercial and investment business activities,” subject to the approval of the commission and other controls stipulated in the Act.

SEC, Tinubu Signs Investments
It contains a new part which provides for the regulation of Commodities Exchanges and Warehouse Receipts. These provisions are essential to allow for the development of the entire gamut of the commodities ecosystem.
Salient provisions of the Act address existing restrictions in respect of raising of funds from the capital market by sub-nationals to allow for greater flexibility in this regard.
The Act introduces the mandatory use of Legal Entity Identifiers (LEIs) by participants in capital market transactions. This stipulation is designed to improve transparency in the conduct of securities transactions.
The Act expressly prohibits ponzi schemes and other unlawful investment schemes, while prescribing stringent jail terms and other sanctions for the promoters of such schemes.
It amends some key provisions in the repealed ISA 2007 pertaining to the composition of the tribunal, constitution of the tribunal, qualification and appointment of the chief registrar as well as the jurisdiction of the tribunal to enhance the ability of the tribunal to optimally discharge its mandate.
Crime
Osun Governor Adeleke To Sack Traditional Rulers Over Renewal Of Communal Clashes

Osun Governor Adeleke To Sack Traditional Rulers Over Renewal Of Communal Clashes
Osun Governor Adeleke to sack traditional rulers over renewal of communal clashes. “I will wield the big stick. Enough is enough,” the governor said.
Governor Ademola Adeleke of Osun State says the government will remove from office any traditional ruler that fails to sustain peace in their community.
Mr Adeleke, in a statement by his media spokesperson, Olawale Rasheed, on Monday, said that action would be taken against traditional rulers of Ifon and Ilobu/Erin-Osun communities in Orolu and Irepodun Local Government Areas.
He said that action would be taken if the traditional rulers failed to sustain peace and de-escalation crises in their communities.
The governor issued the warning against the backdrop of online reports that some faceless groups across the conflict areas were planning another round of attacks.
“In the midst of sallah celebrations, I got reports of some people planning another round of conflict around Ifon, Ilobu and Erin Osun towns,” he said.
According to him, security agencies have tightened surveillance to ensure no attacks take place and are speeding up the interrogation of key chieftains and actors in the conflict.

Osun Governor Adeleke
“I will remind top leaders of the towns that the peace deal they are signing is not for joke. They will be held accountable. There will be accountability before the law. The curfew we relaxed was on humanitarian grounds.
As a compassionate government, we know many innocent people are suffering because of the evil agenda of a few elements across the conflict areas.
“Any attempt to exploit the adjustment of the curfew for renewed violence will be met with full re-imposition of the 24-hour curfew. Additionally, I will remove from office any traditional ruler where violence recurs.
This card is on the table. The royal fathers of each town must call their subjects to order.
“I will wield the big stick. Enough is enough,” the governor said.
Crime
NEITI Vows To Monitor Spending Of Oil, Gas, Mining Revenues

NEITI Vows To Monitor Spending Of Oil, Gas, Mining Revenues
NEITI vows to monitor spending of oil, gas, mining revenues. Mr Orji said NEITI remained committed to exposing hidden ownership structures to combat corruption.
The Nigeria Extractive Industries Transparency Initiative has reaffirmed its unwavering commitment to ensuring that Nigeria’s oil, gas and mining revenues are managed for the benefit of all citizens.
NEITI said it would deepen beneficial ownership disclosures, strengthen revenue tracking and contract transparency, and ensure full implementation of extractive sector governance reforms.
Orji Ogbonnaya Orji, NEITI’s executive secretary, said while briefing journalists in Abuja on the progress made in advancing transparency and accountability in Nigeria’s extractive sector.
In the bid to enhance beneficial ownership transparency, Mr Orji said NEITI remained committed to exposing hidden ownership structures to combat corruption.
“We improved the scope, quality, and timeliness of NEITI’s industry reports, expanding our reporting focus to include beneficial ownership, contract transparency, and environmental impacts.
“Reconstitution of the NEITI NSWG, ensuring high-level leadership, making it the only federal board chaired by the secretary to the government of the federation,’’ he said.

Naira
Mr Orji mentioned the establishment of the NEITI Data Centre Project, a strategic initiative designed to centralise and automate extractive sector data, ensuring open access to industry information and systematic disclosures in line with the EITI 2023 standards.
He said the inter-ministerial task team responsible for implementing NEITI’s report recommendations was reconstituted in May 2024 after seven years of inaction.
Mr Orji disclosed that the membership was upgraded to director-level representation, strengthening decision-making and policy implementation capacity.
Crime
Army Arrests 39 Suspected Oil Thieves, Destroy Illegal Refining Sites In Niger Delta

Army Arrests 39 Suspected Oil Thieves, Destroy Illegal Refining Sites In Niger Delta
Army arrest 39 suspected oil thieves, destroy illegal refining sites in Niger Delta. Troops of the 6 Division, Nigerian Army, have arrested 39 suspected oil thieves and dismantled 18 illegal refining sites in a sustained crackdown against crude oil theft and related crimes in the Niger Delta region. The operation was conducted between March 24 and 30, 2025, in collaboration with sister security agencies, according to the Acting Deputy Director, 6 Division Army Public Relations, Lieutenant Colonel Danjuma Jonah Danjuma.
In a statement, Danjuma said security forces also confiscated over 60,000 litres of stolen petroleum products and dismantled illegal refining infrastructure. He said that in Rivers State, troops intercepted an inbuilt fabricated twin tank containing 18,000 litres of stolen crude along Ochokocho Road in Etche Local Government Area.
Additionally, a MAN Diesel container truck with registration number LXA 44 XA was seized while attempting to smuggle stolen petroleum products concealed in bags of sawdust. The suspects abandoned the vehicle and fled on sighting security forces.
According to him, further anti-oil theft operations along the Imo River led to the dismantling of several illegal refining sites, with over 15,000 litres of stolen products recovered.
The crackdown extended to Rumuekpe Forest in Ahoada East LGA, where two refining sites were destroyed, and 2,800 litres of stolen crude oil were confiscated. Similar operations were carried out in Ebocha, Omoku (Ogba/Egbema/Ndoni LGA), and Jelikri Creek in the Degema Local Government Area, where illegal refining sites, drum ovens, hoses, and metal pipes were destroyed.

Illegal Refining Sites
The Army statement also highlighted significant breakthroughs in Bayelsa State, particularly in Yenagoa LGA, where two illegal refining sites containing over 8,000 litres of stolen crude in drums and sacks were dismantled. In Southern Ijaw LGA, troops uncovered another illegal operation, recovering 1,500 litres of crude oil and 300 litres of illegally refined Automotive Gas Oil (AGO).
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