The Securities and Exchange Commission has directed all Capital Market Operators to declare their compliance status and ensure that every tradable instrument under their management is fully registered in line with the Investments and Securities Act 2025 by January 2026.

The Director-General of SEC, Emomotimi Agama, issued the directive on Wednesday at the Commission’s Journalists’ Academy 2025 held in Lagos. The event had the theme: “The ISA 2025 and the Future of Nigeria’s Capital Market: Innovation, Protection and Growth.”

Agama, represented by the Commissioner of Operations, Bola Ajomale, said the new Act provides a stronger regulatory foundation for Nigeria’s capital market and places clear responsibilities on operators to align with updated standards.

He said anyone offering a tradable instrument must register with the Commission and complete the required process within the stipulated period.

“If we get this right, ISA 2025 will serve as the 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,” he said.

According to him, the Act strengthens investor protection, empowers market operators and enhances the SEC’s ability to ensure transparent and fair market practices.

Agama noted that the reform became necessary due to the rise of digital trading and fintech, adding that the ISA 2025 aligns Nigeria’s capital market regulation with global best practices while addressing local challenges and systemic risks.

“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,” he added.

According to him, this clarity strengthens regulatory authority and enhances institutional accountability.

He added that it also eliminates ambiguities that previously complicated enforcement actions and improves the alignment of the SEC’s work with national economic goals.

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.

Agama said the Act represents a collective resolve to modernise the capital market architecture.

He noted that several factors made the 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; the need for stronger alignment with IOSCO standards; and the imperative to deepen Nigeria’s capital market as a tool for national development.