ISA 2025 formally recognises cryptocurrencies as securities under SEC’s oversight — DG

By Seun Ibiyemi

The Securities and Exchange Commission (SEC) has announced that the Investment and Securities Act (ISA, 2025) formally recognises virtual assets, such as cryptocurrencies, as securities, thereby bringing them under the regulatory oversight of the Commission.

In a statement on Sunday, the Director-General of SEC, Dr Emomotimi Agama, explained that the Act broadened the definition of securities to include investment contracts, ensuring that digital asset operators, exchanges, and service providers comply with standards for investor protection.

Agama highlighted that the key reforms introduced in 2025 were designed to enhance investor confidence, strengthen market oversight, and align Nigeria’s financial markets with global best practices.

He pointed out that the primary focus of the Act was investor protection, emphasising that the core purpose of regulation is to maintain integrity and transparency in the market.

“This will make the Nigerian capital market more attractive to international investors,” he said.

Agama further stated, “For us, the ISA 2025 has empowered us with greater authority to address the challenges that have long affected investors.”

He also noted that an implementation team had already been set up to ensure the thorough enforcement of the Act, stating that the goal was to make the market more reliable and secure for investors.

“Our aim is to make sure that the new law achieves its objectives, and that investors regain their confidence in the market, providing them with support when needed, while also creating opportunities for wealth distribution in the country,” Agama added.

It is worth noting that President Bola Tinubu assented to the ISA 2025 on March 25, thus repealing the previous ISA 2007.