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President Tinubu Signs the Investments and Securities Act (ISA) 2024 into Law

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President Bola Tinubu has officially signed the Investments and Securities Act (ISA) 2024 into law, thereby repealing the previous Investments and Securities Act No. 29 of 2007. This landmark legislation represents a significant stride in the reform of Nigeria’s capital market, aimed at bolstering market integrity, enhancing investor protection, and fostering sustainable economic growth.....KINDLY READ THE FULL STORY HERE▶

The Securities and Exchange Commission (SEC) confirmed the presidential assent through an official statement released on Saturday, highlighting the transformative provisions of the new Act, which aligns with global best practices.

According to the statement, the ISA 2024 reaffirms the SEC’s role as the apex regulatory authority of Nigeria’s capital market. It introduces innovative reforms that align with international standards, further consolidating the SEC’s position as a leading regulatory entity.

Dr. Emomotimi Agama, the Director-General of the SEC, expressed his gratitude to stakeholders, including the National Assembly, for their collaborative efforts in actualizing the legislation. He emphasized that the ISA 2024 demonstrates the government’s commitment to building a dynamic, inclusive, and resilient capital market.

The Act also enhances the SEC’s regulatory powers to align with the International Organization of Securities Commissions (IOSCO) standards, thereby maintaining Nigeria’s “Signatory A” status under IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU).

Key Provisions of ISA 2024:

  • Classification of Exchanges: The Act distinguishes between “Composite” and “Non-composite” securities exchanges, clarifying the differences in their operational focus.

  • Recognition of Digital Assets: For the first time, virtual and digital assets are formally classified as securities, bringing Virtual Asset Service Providers (VASPs) and Digital Asset Exchanges under SEC’s regulation.

  • Financial Market Infrastructures: Provisions for Central Counter Parties, Clearing Houses, and Trade Depositories are introduced to facilitate smoother capital market operations.

  • Mandatory Use of Legal Entity Identifiers (LEIs): To enhance transparency, the Act mandates the use of LEIs in capital market transactions.

  • Tackling Ponzi Schemes: The Act explicitly prohibits Ponzi schemes and other illegal investment practices, imposing strict penalties on offenders.

  • Regulation of Commodities Exchange: The Act supports the development of commodities ecosystems, enhancing investment opportunities in the sector.

  • Flexible Fundraising for Sub-Nationals: State and local governments now have improved access to capital, fostering economic development at the grassroots level.

In his remarks, Dr. Agama acknowledged the significant contributions from the Minister of Finance and the Coordinating Minister of the Economy, whose guidance ensured the alignment of ISA 2024 with Nigeria’s broader economic objectives. He assured that the SEC would continue to engage stakeholders to ensure a smooth transition and effective implementation of the new law.

The ISA 2024 is anticipated to foster a more robust, transparent, and competitive Nigerian capital market, offering extensive benefits to both local and foreign investors.

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Currency Watch: Dollar Holds Firm Against Naira At ₦1,378 Amid Economic Uncertainty!.

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On June 26, 2026, the dollar-to-naira exchange rate at the Lagos parallel market, commonly referred to as the black market, saw sellers offering the dollar at ₦1402, while buyers were purchasing it at ₦1391, according to Bureau De Change (BDC) sources. It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize this market and advises individuals to conduct foreign exchange transactions through their respective banks.....KINDLY READ THE FULL STORY HERE▶

Additionally, the CBN’s official rates for the same period ranged from a high of ₦1385 to a low of ₦1376. Please be aware that actual transaction prices may vary and might differ from the figures provided in this report.

Exchange Rate Summary (June 26, 2026)

  • Parallel Market (Selling): ₦1402

  • Parallel Market (Buying): ₦1391

  • CBN Official Rates: ₦1376 – ₦1385

What specific aspect of the current foreign exchange market or its impact on consumer trends would you like to discuss further?

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Betrayal Exposed? Faction Demands Police Probe Into Fraudulent Leadership Claims Sent To INEC!.

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The legal firm Ogbeide Associates, representing a faction of the Peoples Democratic Party (PDP), has submitted a petition to the Inspector-General of Police (IGP), Tunji Disu, requesting a formal investigation into PDP secretary Samuel Anyanwu and factional National Chairman Abdulrahman Mohammed.....KINDLY READ THE FULL STORY HERE▶

Key aspects of the petition include:

  • Allegations of False Representation: The petition challenges a November 3, 2025, letter sent to the Independent National Electoral Commission (INEC) which falsely claimed that the PDP National Working Committee (NWC) had replaced acting national chairman Ambassador Umar Iliya Damagum with Mohammed.

  • Contradictory NWC Records: Petitioners assert that the NWC’s November 1, 2025, emergency meeting actually resulted in the suspension of Anyanwu and three other officers due to alleged anti-party activities, and no record exists to support the claim that Damagum was suspended or Mohammed appointed.

  • Legal Precedents: The lawyers referenced an October 10, 2024, Federal High Court judgment that recognizes Damagum as the acting national chairman and prohibits INEC from accepting documents without his signature. Furthermore, they noted that the Court of Appeal upheld the NWC’s suspension of Anyanwu on March 9, 2026.

  • Call for Institutional Review: The petitioners have requested that the IGP investigate how INEC processed the contested November 3 letter despite being aware of the existing court orders and the NWC’s official resolutions.

  • Stated Objective: Counsel for the petitioner emphasized that the action is intended to address the integrity of public institutions and prevent the use of misleading internal party documentation, noting their readiness to provide supporting court judgments and party records to the police.

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The Drama Of 2026! Turkey Goes Home Fighting While Ivory Coast And Australia Advance to Knockouts!

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  • Turkey vs. USA: Despite Turkey securing a dramatic 3-2 victory—their first World Cup win since 2002—they were eliminated from the tournament. The USA, despite the loss, qualified for the Round of 32 and is set to face Bosnia-Herzegovina on July 2.....KINDLY READ THE FULL STORY HERE▶

    • Ivory Coast’s Historic Qualification: Ivory Coast advanced to the knockout stage for the first time in their history after defeating Curacao 2-0, with Nicolas Pepe scoring both goals. This result secured them second place in Group E with six points.

    • Australia and Paraguay: Australia qualified for the Round of 32 as Group D runners-up following a 0-0 draw with Paraguay. Paraguay’s result keeps them in contention to progress as one of the best third-placed teams.

    • Sweden and Japan: Sweden earned a 1-1 draw against Japan, with Anthony Elanga’s strike securing them a spot in the knockout stage as one of the best third-place finishers. Japan advanced as the runners-up of Group F.

    • Netherlands vs. Tunisia: The Netherlands defeated Tunisia 3-1, confirming their position at the top of Group F. The Dutch will face Morocco in the next round, while Tunisia was eliminated after failing to earn a point in their three group matches.

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