The Independent Shareholders Association of Nigeria (ISAN) has called for the efficient, impartial, and capacity-driven implementation of the Investments and Securities Act (ISA) 2025, stressing that robust protection of minority shareholders is critical to achieving sustainable growth and confidence in Nigeria’s capital market.
The President of ISAN, Moses Igbrude, made the call while speaking at the 2025 conference in Lagos.
He said the full benefits of the new law would only be realised if regulators enforce its provisions independently and fairly, without undue interference in the operations of market participants.
Igbrude noted that the Securities and Exchange Commission (SEC), as the apex regulator, must strike a balance between firm oversight and operational flexibility, allowing operators to conduct legitimate business activities while maintaining the highest standards of compliance and corporate governance.
According to him, consistent and forward-looking regulation is essential for embedding ISA 2025 into the long-term development framework of the capital market.
He emphasised the need for sustained capacity building within regulatory institutions to effectively manage the expanded scope of the Act, including oversight of emerging digital assets alongside traditional investment instruments.
Such preparedness, he said, would ensure that enforcement of the law goes beyond short-term compliance to support strategic market growth.
Highlighting investor protection as a cornerstone of market development, Igbrude advocated mandatory representation of minority shareholders on corporate boards.
He argued that giving minority investors a voice in key decision-making processes would strengthen corporate governance, reduce the risk of abuse, and promote a more equitable balance of power within listed companies.
The ISAN president also underscored the importance of modern market infrastructure, calling for a fully integrated and synchronised ecosystem that enables seamless interaction among investors, operators and regulators.
He envisioned a one-stop platform that supports transactions from initiation to completion, eliminates operational bottlenecks and enhances transparency across the market.
Beyond regulation and infrastructure, Igbrude said effective implementation of ISA 2025 requires broad-based education, awareness and collaboration among all stakeholders.
Investors, he noted, must understand their rights, while operators and regulators must clearly recognise and discharge their responsibilities with professionalism and competence.
He concluded that the promise of ISA 2025 can only be fulfilled through deliberate and coordinated action that combines independent regulation, strong institutional capacity, comprehensive infrastructure and meaningful investor protection.
Such an approach, he said, would position Nigeria’s capital market as efficient, inclusive and globally competitive, capable of supporting long-term economic growth and financial innovation.
Leave a Comment