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“Such provisions signal that the SEC is no longer limited by outdated definitions or narrow supervisory boundaries.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.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange receded by 0.30 per cent on Tuesday, January 20 following sell-offs in five stocks on the unlisted stock trading platform.
The price losers were led by FrieslandCampina Wamco Nigeria Plc, which gave up N1.71 to sell at N72.00 per share compared with the N73.71 per share it traded a day earlier.
Further, Central Securities Clearing System (CSCS) Plc dropped 37 Kobo to close at N41.43 per unit versus Monday’s closing price of N41.80 per unit, Ge0-Fluids Plc lost 14 Kobo to trade at N7.00 per share compared with the previous day’s N7.14 per share, Afriland Properties Plc depreciated by 13 Kobo to trade at N14.60 per unit versus the N14.73 per unit it was exchanged a dy earlier, and UBN Property Plc declined by 11 Kobo to quote at N1.90 per share, in contrast to the preceding session’s N2.01 per share.
As a result, the market capitalisation went down by N6.5 billion to N2.187 trillion from N2.194 trillion, while the NASD Unlisted Security Index (NSI) depreciated by 10.86 points to 3,656.36 points from 3,667.22 points.
Business Post reports that yesterday, there was a price gainer, which was IPWA Plc. It gained 16 Kobo to end at N1.79 per unit versus N1.63 per unit.
During the trading day, the total value of transaction jumped by 137.5 per cent to N43.3 million from N18.2 million, while the volume of transactions decreased by 3.2 per cent to 2.6 million units from 2.7 million units, as the number of deals depreciated by 30.2 per cent to 30 deals from 43 deals.
At the close of trades, CSCS Plc was the most active stock by value on a year-to-date basis with 3.6 million units worth N145.6 million, trailed by MRS Oil Plc with 278.971 units valued at N55.7 million, and Geo-Fluids Plc with 7.6 million units sold for N51.9 million.
Geo-Fluids Plc maintained its position as the most active stock by volume on a year-to-date basis with 7.6 million units traded for N51.9 million, followed by CSCS Plc with 3.6 million units transacted for N145.6 million, and Industrial and General Insurance (IGI) Plc with 3.1 million units valued at N1.9 million.
By Adedapo Adesanya
The Naira rebounded on Tuesday, January 20 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) as it appreciated against the US Dollar by 93 Kobo or 0.06 per cent to N1,419.35/$1 from Monday’s N1,420.28/$1.
However, it depreciated against the Pound Sterling in the official market by N2.43 to trade at N1,908.31/£1 versus the previous day’s N1,905.88/£1 and lost N13.53 against the Euro to finish at N1,666.31/€1 compared with the preceding session’s closing price of N1,652.78/€1.
The Nigerian currency also weakened against the Dollar at the GTBank forex counter yesterday by N5 to sell at N1,429/$1, in contrast to Monday’s exchange rate of N1,424/$1 and maintained stability at the parallel market at N1,485/$1.
Market analysts said they expect the current trading range of the Naira to remain firm in the near term supported by stronger foreign inflows driven by higher oil receipts, improved FPI participation, and consistent FX management by the Central Bank of Nigeria (CBN).
Boost from exporters’ and importers’ inflows in addition to non-bank corporate supply will also help enhance liquidity.
The Dollar also faced pressure in the international market in the midst of a dispute between the US and its European allies over Greenland, which President Donald Trump said “no going back” on his campaign thereby triggering selloffs to other safe haven assets.
As for the cryptocurrency market, Bitcoin (BTC) dropped below $90,000 on Tuesday amid a sharp shift in global risk sentiment, triggering more than $1 billion in forced liquidations of leveraged crypto positions.
The crypto sell-off coincided with broader market jitters tied to renewed tariff threats from President Donald Trump and a sell-off in Japanese government bonds that pushed global yields higher and pressured risk assets, with the BTC down by 1.6 per cent to $89,456.08.
Ethereum (ETH) lost 4.7 per cent to trade at $2,974.67, Binance Coin (BNB) slumped by 4.1 per cent to $878.27, Solana (SOL) depreciated by 2.8 per cent to $128.14, Cardano (ADA) crashed by 1.9 per cent to $0.3595, Ripple (XRP) slipped by 1.8 per cent to $1.91, Litecoin (LTC) declined by 1.7 per cent to $68.92, and Dogecoin (DOGE) shrank by 1.5 per cent to $0.1251.
On the flip side, the US Dollar Tether (USDT) appreciated by 0.01 per cent to trade at $1.00, and the US Dollar Coin (USDC) gained 0.03 per cent to settle at $1.00.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited returned to green territory on Tuesday after it chalked up 0.09 per cent on the back of renewed buying pressure.
The market regained strength yesterday despite profit-taking in the banking space, which caused its index to close lower by 0.69 per cent.
Business Post reports that insurance counter was up by 2.80 per cent, the energy sector appreciated by 2.40 per cent, the commodity segment grew by 1.22 per cent, and the consumer goods industry improved by 0.03 per cent, while the industrial goods counter closed flat.
At the close of transactions, the All-Share Index (ASI) went up by 144.32 points to 166,256.82 points from 166,112.50 points and the market capitalisation gained N93 billion to finish at N106.436 trillion compared with the N106.343 trillion it settled on Monday.
During the session, investors transacted 795.5 million equities valued at N20.0 billion in 45,410 deals versus the 629.6 million equities worth N14.8 billion executed in 57,858 deals a day earlier, indicating a rise in the trading volume and value by 26.35 per cent and 35.14 per cent apiece and a decline in the number of deals by 21.52 per cent.
Tantalizers was the busiest stock yesterday with a turnover of 87.0 million units valued at N300.9 million, Secure Electronic Technology traded 74.2 million units worth N87.6 million, a new member of the NGX, Zichis Agro Allied Industries, transacted 69.6 million units for N138.5 million, Zenith Bank sold 49.1 million units valued at N3.5 billion, and GTCO exchanged 39.1 million units worth N3.8 billion.
On Tuesday, the market breadth index was positive after Customs Street ended with 39 appreciating shares and 25 depreciating shares, representing a bullish investor sentiment.
Deap Capital, NPF Microfinance Bank, and Red Star Express gained 10.00 per cent each to sell for N5.39, N4.73, and N15.95 apiece, as NCR Nigeria soared by 9.97 per cent to N155.50, and Morison Industries also increased by 9.97 per cent to N6.84.
Conversely, Aluminium Extrusion lost 9.95 per cent to settle at N17.20, Jaiz Bank declined by 9.88 per cent to N7.21, FTN Cocoa shrank by 8.44 per cent to N7.05, UPDC decreased by 8.06 per cent to N5.70, and Caverton slumped by 5.59 per cent to N7.60.
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