Economy
ISA 2025 Will Reposition Nigeria’s Capital Market—SEC DG
By Aduragbemi Omiyale
The Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, has described the Investments and Securities Act (ISA) 2025 as a powerful foundation for the capital market Nigeria needs and deserves.
He said this at the agency’s Journalists’ Academy 2025 held on Wednesday in Lagos themed The ISA 2025 and The Future of Nigeria’s Capital Market: Innovation, Protection, and Growth.
He used the occasion to mandate all the Capital Market Operators (CMOs) to ensure all tradable instruments are registered in line with the new law on or before January 2026.
“If we get this right, ISA 2025 will serve as a powerful foundation for the capital market Nigeria needs and deserves: deep, efficient, innovative, and globally competitive.
“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,” Mr Agama, who was represented by the Commissioner of Operations, Mr Bola Ajomale, said.
He added that the ISA 2025 strengthens the commission to protect investors, empower market operators and align Nigeria with global best practice while addressing uniquely Nigerian challenges.
“One of the most transformative aspects of the ISA 2025 is the clarity it brings to the mandate of the Securities and Exchange Commission.
“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,” the SEC DG noted.
According to him, this clarity strengthens regulatory authority and enhances institutional accountability, adding that it also eliminates the ambiguities that previously complicated enforcement actions and improves the alignment of the SEC’s work with national economic goals.
Mr Agama said the Act expands the commission’s investigative capacity not only over regulated entities, but also over unrelated third parties where necessary for enforcement.
“This closes a major loophole that hindered previous investigations into market abuse and complex financial schemes.
“Such provisions signal that the SEC is no longer limited by outdated definitions or narrow supervisory boundaries. The regulator now has modern tools to protect the integrity of the market,” he said.
The capital market expert said the Act represents a collective resolve to modernise our capital-market architecture, noting that several forces made this reform necessary: the rise of digital trading, fintech platforms, and virtual assets, the inadequacies of the previous Act in addressing Ponzi schemes, systemic risks, and new financing structures, among others.
He stressed that the need for stronger alignment with IOSCO standards and the imperative to deepen Nigeria’s capital market as a tool for national development led to its review.
“One of the most transformative aspects of the ISA 2025 is the clarity it brings to the mandate of SEC.
“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.
“This clarity strengthens regulatory authority and enhances institutional accountability.
“It eliminates the ambiguities that previously complicated enforcement actions and improves the alignment of the SEC’s work with national economic goals,” he said.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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