The National Assembly has forwarded the Investments and Securities Bill (ISB) 2024 to President Bola Tinubu for approval.
Osita Izunaso, chairman of the Senate Committee on Capital Market, shared this update during the Securities and Exchange Commission’s (SEC) budget defence in Abuja.
The bill, already signed by Senate President Godswill Akpabio, is now with the executive for final approval. Tinubu is expected to sign it into law within 30 days.
The committee has also urged the finance ministry to allocate ₦10 billion in the 2025 budget for investor education.
Meanwhile, SEC Director-General Emomotimi Agama stated that the bill’s implementation is expected to begin on March 1.
He credited the National Assembly’s support for recent market improvements, noting that Nigeria was among the top-performing markets in 2024.
Agama also confirmed a reduction in government deductions from 50% to 20%, a move aimed at improving SEC’s financial performance.
In 2024, SEC generated ₦26.9 billion in revenue, surpassing its projected ₦22.4 billion. After expenses and deductions, it recorded a net surplus of ₦2.5 billion.
He added that market participants have shown higher compliance with regulations, leading to fewer penalties.
The commission remains committed to ensuring transparency and accuracy in financial disclosures.
