EddieJayonCrypto

 7 Apr 25

tl;dr

Nigerian President Bola Tinubu signed the Investments and Securities Act (ISA) 2024, classifying digital assets as securities for the first time. The new law expands the definition of securities to include digital assets and gives the Securities and Exchange Commission (SEC) jurisdiction over the di...

Nigeria's President Bola Tinubu signed the Investments and Securities Act (ISA) 2024, classifying digital assets as securities for the first time. The new law expands the definition of securities to include digital assets and gives the Securities and Exchange Commission (SEC) jurisdiction over the digital asset space, requiring businesses to register and obtain a license.

The SEC chairman sees the Act as empowering the SEC to foster innovation, protect investors more efficiently, and reposition Nigeria as a competitive destination for investments. The digital asset sector in Nigeria has faced crackdowns but has seen significant growth, with the SEC issuing licenses to local exchanges. The new law is expected to protect investors, boost market integrity, and create new business opportunities.

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