Economy
ISB to Attract Influx of Foreign Investors to Capital Market—Ibrahim
By Aduragbemi Omiyale
When the Investments and Securities Bill is signed into law, it will attract an influx of foreign investors into the Nigerian capital market, the Chairman of the House Committee on Capital Markets and Institutions, Mr Babangida Ibrahim, has submitted.
The bill was recently passed by the House of Representatives, and commenting on this development in an interview; he further said the piece of the legislature could transform the ecosystem and boost investors’ confidence, among others.
He said the ISA Bill seeks to repeal the existing Investments and Securities Act 2007 and to establish a new market infrastructure and wide-ranging system of regulation of investments and securities businesses in Nigeria, especially in the areas of derivatives, systematic risk management, financial market infrastructure and Ponzi scheme and platforms.
Other areas the bill addresses are alternative trading systems, the inclusion of the National Pensions Commission as part of the board of the Securities and Exchange Commission, the deletion of the provisions on merger control in the current Act and the amendment of the criteria of borrowing by sub nationals and strengthening and enforcement powers of the Securities and Exchange Commission in line with the requirement of the International Organisation of Securities Commissions, IOSCO.
“We owe a duty to Nigerians and Nigeria to make sure that things work well. In the financial market, we have the money market and the capital market.
“With the challenges facing the money market, the only option left is the capital market. What we tried to do is to build investors’ confidence and ensure that investors are comfortable.
“At the same time, we realised that there are areas like derivatives, commodities exchanges, Ponzi schemes and the rest of them that are new developments in the capital market. We feel it’s very important for us to provide regulations for these new developments.
“We also emphasized borrowing by sub nationals, in the past, you hardly saw state governments and local governments coming into the capital market to borrow.
“We introduced a lot of new provisions and also made provisions relating to financial market infrastructures. Also, the board of the SEC was expanded to include the Pension Commission. The existing Act needed a total overhaul because of the passage of time and developments in the capital market,” he said.
The lawmaker said the Bill is also to determine the type of training required of an operator to perform professional functions in the capital market and also provide certification for persons deemed to have met the qualifications standards.
“The Act will achieve transformation of the market, from manual to automation, from manual to multiple securities exchanges, influx of foreign professionals into the country and also need to harmonise standards. The bill will also achieve expansion of products range in the market, equities, bonds, Sukuk, derivatives and advent of electronic share issuance,” he stated.
Mr Ibrahim noted that the lower chamber of the parliament was committed to ensuring that the Securities and Exchange Commission (SEC) delivers on its core mandate of due registration of the players in the capital market, market integrity to avoid systemic risk, guarantee inspection, investigation of breaches, due surveillance, market development and law enforcement and rules making.
“This committee is indeed proud of this bill as they seek to ensure a more robust, vibrant, prosperous and more developed capital market and also to ensure that the capital market is well institutionalised and accountable.
“We hope the resources of Nigerians in the capital market will remain safe, accountable and prosperous. A capital market is a veritable tool for wealth creation, and we will ensure this is true for Nigerians. If there was any time we need to rally for the economic good of Nigeria, it is now, and this is the time,” he disclosed.
On the issue of Ponzi schemes, Mr Ibrahim said the House has ensured that there is enough deterrent in the bill. This, he said, includes cash penalty, conviction, as well as a combination of both cash penalty and conviction.
“It depends on the nature and gravity of the offence, but we try as much as possible that its serves as a deterrence to anyone that wants to do any manipulation in the capital market. We have provided enough regulation in this bill that will take care of many of these issues.
“I want to see a vibrant capital market that is efficient and one that can boost investors’ confidence and where the processes are simple. One of the major challenges and complaints by investors is the issue of dividend claims.
“This act will ensure the streamlining of a database of investors and also look at the aspect of registrars. This Act has looked at the various issues and ensures it aligns with the global trend. We want a capital market where anyone can come in freely, invest and get the benefit of his investments. We have to put our hands on deck to ensure that the capital market functions efficiently; we need to ensure we boost investors’ confidence and ensure that we are as transparent as possible,” he added.
Also commenting on the passage of the Bill by the House, Executive Commissioner Legal and Enforcement of the SEC, Mr Reginald Karawusa, commended the National Assembly on its efforts at ensuring a vibrant capital market that would aid economic development.
Mr Karawusa stated that the Bill introduced the appropriate framework for the regulation of Commodities Exchanges and trading of Warehouse Receipts to strengthen the commodities market ecosystem with a view to diversifying the Nigerian economy away from a mono-product economy.
By Adedapo Adesanya
The National Insurance Commission has issued new guidelines for the collection, management, and administration of the Insurance Policyholders’ Protection Fund.
In a circular issued to all insurance institutions on Tuesday, the regulator also set May 31, 2026, as the deadline for insurers to submit their assessment returns for the 2025 financial year.
Recall that on August 5, 2025, President Bola Tinubu signed into law the Nigerian Insurance Industry Reform Act ( NIIRA 2025).
This landmark legislation repeals the Insurance Act 2003, and consolidates related provisions, ushering in a modern regulatory framework. It lays a strong foundation for sustainable growth and increased investment in the country’s insurance sector.
The commission said the guidelines were issued in exercise of its powers under the 2025 Act and other existing insurance laws and regulations to provide regulatory clarity, improve guidance, and ensure ease of compliance across the industry.
According to NAICOM, the guidelines establish a comprehensive structure for the operation of the IPPF, which serves as a statutory safety net to protect insurance policyholders in the event of distress or insolvency of a licensed insurer or reinsurer. The framework also provides direction on the reimbursement of loans by insurers and reinsurers.
NAICOM stated, “The guidelines ensure regulatory clarity, guidance and ease of compliance, as it provides a comprehensive regulatory framework for the collection, management, and administration of the Fund, which serves as a statutory safety net designed to protect insurance policyholders against distress and insolvency of a licensed insurer or reinsurer, including guidance for the reimbursement of loans by an insurer or reinsurer.
“Please be informed that the IPPF Assessment Returns in respect of the year 2025 shall be submitted to the Commission not later than 31st May 2026, while subsequent submissions shall be in line with Section 4.3 of the Guideline on Insurance Policyholders Protection Fund.”
By Adedapo Adesanya
The Dangote Refinery on Wednesday returned the petrol price to N1,200 per litre, less than 24 hours after it increased it by 5 per cent.
The private refinery had raised the ex-depot price by N75 on Tuesday, citing pressure from volatile global oil markets, but quickly brought it back to N1,200 per litre from N1,275 per litre.
The swift downward review is directly linked to a sharp drop in international crude prices. Brent crude has plunged to $95.05 per barrel, after a 13 per cent decline, while the US West Texas Intermediate (WTI) crude closed at $97.18, recording nearly a 14 per cent drop.
This development comes after US President Donald Trump announced a conditional two-week ceasefire with Iran, which eased fears of immediate supply disruptions in the global oil market.
“This will be a double-sided CEASEFIRE!” Trump said on social media, marking a sharp reversal from his earlier warning that “a whole civilisation will die tonight” if Iran failed to comply with US demands.
Iran’s Foreign Minister, Mr Abbas Araqchi, confirmed that the country would halt attacks provided strikes against Iran cease and transit through the Strait of Hormuz is coordinated by Iranian forces.
Despite the breakthrough, tensions remain elevated across the region, with several Gulf states reporting missile launches, drone activity, or issuing civil defence warnings.
While oil prices have fallen back below $100, they remain significantly elevated after surging by a record amount in March. Market analysts noted that regardless of how successful the ceasefire is, geopolitical risk related to the Strait of Hormuz is likely to remain elevated for the foreseeable future under the control of Iran.
By Adedapo Adesanya
Crude oil deliveries from the Nigerian National Petroleum Company (NNPC) Limited to the Dangote Petroleum Refinery doubled in March, boosting prospects for improved fuel availability.
This was revealed by the chief executive of Dangote Industries Limited, Mr Aliko Dangote, on Tuesday, when he received the Deputy Secretary-General of the United Nations, Mrs Amina Mohammed, at the industrial complex in Ibeju-Lekki, Lagos.
While speaking on feedstock supply, Mr Dangote commended the NNPC for increasing crude deliveries to the refinery in March, noting that volumes rose to 10 cargoes—six supplied in Naira and four in Dollars—to support domestic fuel availability, according to a statement by the Refinery.
“Last month, they gave us six cargoes for Naira and four cargoes for Dollars,” he said.
Despite the improvement, Mr Dangote noted that the supply remains below the 19 cargoes required for optimal operations, with the refinery continuing to bridge the gap through imports from the United States and other African producers.
He also expressed concern over the unwillingness of international oil companies operating in Nigeria to sell to the refinery, stating that their preference for selling crude to traders forces it to repurchase at higher costs, with broader implications for the economy.
Mr Dangote added that the refinery is seeking increased access to domestically priced crude under local currency arrangements as part of efforts to moderate fuel costs and enhance long-term energy and food security across the continent.
On her part, Mrs Mohammed underscored the strategic importance of Dangote Industries Limited -particularly Dangote Fertiliser Limited—in addressing Africa’s mounting food security challenges, while calling for stronger global partnerships to scale its impact.
Mrs Mohammed said the United Nations would prioritise amplifying scalable solutions capable of mitigating the continent’s food crisis, describing Dangote’s integrated industrial model as a critical pathway.
“I think the UN’s job here is to amplify and to put visibility on the possibilities of mitigating a food security crisis, and this is one of them,” she said. “I hope that when we go back, we can continue to engage partners and countries that should collaborate with Dangote Industries.”
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