The Human Rights Writers Association of Nigeria (HURIWA) has commended Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market, for his exceptional leadership in facilitating the passage of the Investment and Securities Act (ISA) 2025. The group hailed the legislation as a historic and transformative development in Nigeria’s economic and digital regulatory space.
In a statement signed by its National Coordinator, Comrade Emmanuel Onwubiko, HURIWA described the senator’s efforts as a display of legislative brilliance, commitment, and visionary governance. The newly enacted ISA 2025 replaces the Investment and Securities Act of 2007 with a forward-thinking framework aligned with global standards, enhancing Nigeria’s capital market and digital economy.
HURIWA emphasized that the Act not only reforms the capital market but also brings structure and credibility to the once unregulated digital asset space by officially recognizing digital assets and cryptocurrencies as securities. The law also introduces strong penalties for Ponzi schemes, insider trading, and market manipulation—offenses now punishable by up to 10 years in prison and hefty fines.
“This is a groundbreaking legislative success that places Nigeria on a competitive global platform,” HURIWA stated. “Senator Izunaso’s commitment has resulted in a legal framework that promotes transparency, investor confidence, and economic innovation.”
The group noted that with the SEC now overseeing digital asset operations, the law brings legitimacy, protects investors, and unlocks new economic opportunities, especially for the youth.
The ISA 2025 also introduces a new classification system for exchanges—Composite and Non-Composite—promoting regulatory precision and better risk management. HURIWA further lauded the Act’s alignment with the International Organisation of Securities Commissions (IOSCO) standards, describing it as a major boost for global investor confidence in Nigeria.
Additionally, the Act mandates SEC approval for mergers, acquisitions, and other corporate restructuring among listed companies—a move HURIWA says will enhance corporate governance and curb malpractice in the capital market.
On the public finance front, HURIWA highlighted the law’s provision allowing state and local governments to raise long-term funds through the capital market. The group encouraged sub-national entities to utilize this opportunity to finance infrastructure projects and reduce dependence on federal allocations and bank loans.
“This is a golden chance for Nigeria’s 36 states and 774 LGAs to take control of their development,” HURIWA noted. “Lagos Island remains the only LGA to have taken this route—others must now follow suit.”
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In closing, HURIWA hailed Senator Izunaso as a symbol of progressive and impactful legislative leadership. The group described ISA 2025 as a landmark reform that will propel inclusive economic growth, digital advancement, and capital market stability for generations.
“This Act is not just legislation—it’s a visionary roadmap for Nigeria’s economic future,” the statement concluded.
