While the Investments and Securities Act (ISA) 2025 is being hailed as a landmark reform for Nigeria’s capital market, its effectiveness is already facing a critical challenge—the slow pace of the country’s judicial process.
This concern was a key theme at a recent forum organized by the Capital Market Correspondents Association of Nigeria (CAMCAN). Speaking at the event, Sa’ad Abdusalam, Head of Enforcement at the Securities and Exchange Commission (SEC), stressed that systemic court delays continue to hinder timely enforcement of securities laws.
Abdusalam noted that despite the Commission’s efforts to strengthen its legal and enforcement teams, regulatory actions are often delayed due to the legal requirement for court approval, even in cases backed by strong evidence.
“The legal environment in Nigeria is a very big challenge,” Abdusalam said. “Whatever you do, you have to go to the court.”
The SEC is committed to curbing fraudulent investment schemes and enforcing market discipline, but legal bottlenecks remain a stumbling block. Abdusalam reiterated the need for a more responsive judicial system to complement regulatory reforms and ensure the ISA 2025 delivers on its promise to transform Nigeria’s capital market.
