…Uwaleke spots gaps in new law

Despite significant strides, far reaching reforms contained in the recently signed Investment and Security Act, ISA 2025, there are unresolved issues such as market regulation and investor protection not captured by the Act, Professor of Capital Market & Director, Institute of Capital Market Studies, Nasarawa State University Keffi, Prof .Uche Uwaleke pointed out.

To this end, Uwaleke recommended measures that should be implemented by the Securities and Exchange Commission to strengthen the implementation of the Investments and Securities Act (ISA) 2025, particularly in the area of protecting retail investors in foreign platforms.

Some capital market experts also called on the Securities and Exchange Commission (SEC) to create an inter-agency digital surveillance taskforce to address ponzi schemes related gaps in the Investment and Securities Act (ISA, 2025).

The experts spoke at a webinar organised by the Institute of Capital Market Studies (ICMS) Nasarawa State University, Keffi (NSUK) in collaboration with the Capital Market Academics of Nigeria (CMAN) on Sunday. Uwaleke said that although ISA 2025 represented significant step forward in modernising the country’s capital market, critical regulatory blind spots remained.

He said the taskforce should include agencies like SEC, the Economic and Financial Crimes Commission, the Nigerian Communications Commission and the National Information Technology Development Agency. He also suggested the establishment of a public verification portal to enable citizens check and confirm genuine investment platforms before investing.