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Tinubu Assents Investments, Securities Bill 2025

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By Tony Obiechina, Abuja

In a major boost to capital market regulation in Nigeria, President Bola Tinubu has assented to the Investments and Securities Bill (ISB) 2025, which repeals the Investments and Securities Act No. 29 of 2007 and enacts the Investments and Securities Act 2025.

A statement by Efe Ebelo Head of External Relations Department of Securities and Exchange Commission (SEC), the landmark legislation strengthens the legal framework of the Nigerian capital market, enhances investor protection, and introduces critical reforms to promote market integrity, transparency, and sustainable growth.

The enactment of the ISA 2025 reaffirms the authority of the SEC as the apex regulatory authority of the Nigerian Capital Market as well as to regulate the market to ensure capital formation, the protection of investors, and maintenance of a fair, efficient and transparent market and reduction of systemic risks.

The Act also introduces transformative provisions to further align Nigeria’s market operations with international best practice.

Speaking on Key highlights of the Act, Director General for the SEC, Dr. Emomoitimi Agama, “The Act enhances the regulatory powers of the SEC in a manner comparable with benchmark global securities regulators. These enhanced powers and functions ensure full conformity with the requirements of IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU), enabling the SEC to retain its “Signatory A” status and enhancing the overall attractiveness of the Nigerian capital market.

He said other notable provisions of the ISA 2025 include: Classification of Exchanges and inclusion of provisions on Financial Market Infrastructures- The Act classifies Securities Exchanges into Composite and Non-composite Exchanges. A Composite Exchange is one in which all categories of securities and products can be listed and traded, while a Non-composite Exchange focuses on a singular type of security or product. There are also new provisions on Financial Market Infrastructures such as Central Counterparties’, Clearing Houses and Trade Depositories.

Other highlights of the Act are Expansion of the definition and Understanding of Securities,– The Act explicitly recognises virtual/digital assets and investment contracts as securities and brings Virtual Asset Service Providers (VASPs), Digital Asset Operators (DAOPs) and Digital Asset Exchanges under the SEC’s regulatory purview.

The SEC Boss disclosed that the Act contains a new Part which provides for the regulation of Commodities Exchanges and Warehouse Receipts. These provisions are essential to allow for the development of the entire gamut of the Commodities ecosystem.

On the Issuance of Securities by Sub-Nationals and their Agencies, salient provisions of the Act addressed existing restrictions in respect of raising of funds from the capital market by Sub-Nationals to allow for greater flexibility in this regard.

He said that The Act introduces the mandatory use of Legal Entity Identifiers (LEIs) by participants in capital market transactions. This stipulation is designed to improve transparency in the conduct of securities transactions and expressly prohibits Ponzi Schemes and other unlawful investment schemes, while prescribing stringent jail terms and other sanctions for the promoters of such schemes.

In a bid to strengthening the Investments and Securities Tribunal, the Act amends some key provisions in the repealed ISA 2007 pertaining to the Composition of the Tribunal, constitution of the Tribunal, qualification and appointment of the Chief Registrar as well as the jurisdiction of the Tribunal to enhance the ability of the Tribunal to optimally discharge its mandate.

Agama lauded the President’s assent as a transformative step for the capital market saying that the ISA 2025 reflects a commitment to building a dynamic, inclusive, and resilient capital market.

“By addressing regulatory gaps and introducing forward-looking provisions, the new Act empowers the SEC to foster innovation, protect investors more efficiently and reposition Nigeria as a competitive destination for local and foreign investments. We commend all stakeholders within and outside the capital market community for their unwavering solidarity towards the achievement of this historic milestone and solicit their continued collaboration in respect of the effective implementation of the ISA 2025 for the benefit of our economy.”

“The SEC extends its profound appreciation to the National Assembly for its patriotism and dedication in enacting this new legal framework for the Nigerian capital market. The meticulous deliberations, extensive stakeholder engagements, and bi-partisan support demonstrated throughout the legislative process highlight the National Assembly’s resolve to foster economic growth and enhance investor confidence.

“We also commend the Minister of Finance and Coordinating Minister of the Economy of Nigeria as well as the Minister of State for Finance for their invaluable contributions to the realisation of this groundbreaking project. Their strategic guidance, policy expertise, and steadfast support have ensured that the ISA 2025 aligns with Nigeria’s broader economic objectives”.

Education

FG celebrates 17 year-old Nafisa Aminu for emerging world best in English contest 

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By Tony Obiechina Abuja 

The federation government has commended Miss Nafisa Abdullah Aminu, a 17-year-old student from Yobe State, for emerging as the World’s Best in English Language Skills at the 2025 TeenEagle Global Finals held in London, United Kingdom.

Minister of Education, Dr.

Tunji Alausa and the Minister of State for Education, Prof.
Suiwaba Sa’id Ahmed, on behalf of the Federal Ministry of Education, conveyed the federal governments commendation in a statement by the Director of Press and public Relations, Mrs Folashade Boriowo on Wednesday.

Representing Nigeria through the Nigerian Tulip International College (NTIC), Miss Nafisa outshone over 20,000 participants from 69 countries, including native English-speaking nations.

 

Her victory is not only a personal milestone but a resounding affirmation of the Renewed Hope Agenda for Education championed by President Bola Ahmed Tinubu, which continues to empower Nigerian youth to compete and excel on the global stage.

According to the statement, “This extraordinary achievement not only brings pride to the nation but also underscores the effectiveness of the education-focused components of the Renewed Hope Agenda.

” The President’s unwavering belief in human capital development through sustained investment in the education sector is beginning to yield global recognition, as demonstrated by Nafisa’s remarkable success.

The Ministers jointly commended Nafisa for her brilliance, determination, and discipline. They described her victory as a “proud moment for Nigeria and a strong endorsement of the Federal Government’s ongoing efforts to revitalise the education sector and raise globally competitive students.”

The Ministry extends heartfelt appreciation to His Excellency, Governor Mai Mala Buni, whose visionary investment in instructional materials and education reform has created an enabling environment for students like Nafisa to thrive. This achievement is a shining testimony to the renewed collaboration between the Federal Government and sub-national governments, and a clear indication that our shared commitment to quality education is bearing fruit.

Special commendation was further extended to the Yobe State Commissioner for Basic and Secondary Education, Dr. Muhammad Sani Idriss, for his tireless efforts in strengthening the state’s educational institutions and supporting academic excellence. Also acknowledged is the vital role played by the management and staff of NTIC in nurturing Nafisa’s academic growth. Eulogising the dedication and guidance of her parents and teachers, the Ministry noted that they have played a pivotal role in shaping her academic journey, exemplifying the power of community in nurturing excellence.

“This is not just a personal victory; it is a national milestone that affirms the capabilities of Nigerian students to excel on the global stage,” the Ministers stated.

Miss Nafisa’s success reflects the kind of youth the Ministry is determined to raise—globally competitive, intellectually empowered, and rooted in national pride. It reinforces the Ministry’s agenda to continue investing in instructional materials, teacher training, and student development to ensure that Nigerian children receive education that meets international standards.

The Federal Ministry of Education encourages students across the country to be inspired by Nafisa’s achievement and reaffirms its commitment to building a future where many more Nigerian students can stand tall among the world’s brightest.

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NEWS

One Dead, Thousands Evacuated in France  as Wildfire Spreads .

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An elderly woman has died and another person is missing after a massive wildfire swept through parts of southern France, destroying homes and forcing thousands to flee.

The woman died in her home while seven firefighters have also been treated for smoke inhalation and one person is still missing, authorities said.

Two people are in hospital, one of whom is in a critical condition.

The blaze broke out on Tuesday near the village of La Ribaute in the Aude region, and has already burned more than 13,000 hectares (50 sq miles) an area larger than Paris making it the largest wildfire in France this year.

However, over 1,800 firefighters, supported by 500 vehicles, were deployed to the area.

The main affected villages are Lagrasse, Fabrezan, Tournissan, Coustouge and Saint-Laurent-de-la-Cabrerisse, and it’s s said  advancing rapidly, driven by strong winds, dry vegetation and hot summer weather.

Jacques Piraud, mayor of the village of Jonquières, where at least four houses burned, had said  around 80% of the village was burnt. “It’s dramatic and its black, the trees are completely charred,” he said.

“This is a disaster of unprecedented scale,” firefighter spokesman Eric Brocardi also said on RTL radio. He added that at

least 25 homes have been destroyed and more than 2,500 households are without electricity. 

Although authorities have closed roads across the region and warned it’s still  dangerous for residents who fled on Tuesday night to return home.

President Emmanuel Macron has expressed his support for firefighters and local officials on X, saying all government resources were being mobilised, while  urged the residents to follow evacuation orders and exercise “the utmost caution”.

Prime Minister François Bayrou is expected to visit the affected area later on Wednesday, and Lucie Roesch, secretary general of the Aude area, said firefighters were monitoring the fire’s perimeter to prevent new outbreaks.

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Foreign News

US Seeks $15,000 for Visa Applicants Deposit from Two African Countries 

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The US has required citizens from Malawi and Zambia to pay a $15,000 (£11,300) deposit for a tourist or business visa, according to the US state department.

The 12-month pilot programme aims to curb visa overstays or where screening and vetting information is considered deficient according to a notice published by the state department.

It was said that citizens of other countries  than Malawi and Zambia may soon also need to pay a similar deposit, which will be returned at the end of their visit to the US.

The US administration has taken several steps to further President Trump’s agenda of stemming illegal immigration.

Trump signed an executive order on the first day of his second term to this effect, and the state department noticed published on Tuesday, says: “Aliens applying for visas as temporary visitors for business or pleasure (B-1/B-2) and who are nationals of countries identified by the Department as having high visa overstay rates, where screening and vetting information is deemed deficient, or offering Citizenship by Investment, if the alien obtained citizenship with no residency requirement, may be subject to the pilot program.

“Consular officers may require covered non-immigrant visa applicants to post a bond of up to $15,000 as a condition of visa issuance, as determined by the consular officers.” Figures published in 2023 by the US department of Homeland Security show that about 14% of visitors from Malawi overstay their visas, compared to 11% of Zambian visitors.

Other countries with high overstay rates include Haiti (31%), Myanmar (27%) and Yemen (20%).

Zambia Foreign Minister Mulambo Haimbe had said the government was “engaging our counterparts to get a full understanding of the implications and what can be done, if anything, to address the underlying issues”.

Since coming to office in January, Trump has signed orders to roll back humanitarian programmes for migrants from certain countries who are already in the US. He has also banned foreign nationals from 12 countries from travelling to the US, and imposed partial restrictions on another seven.

His administration has revoked visas for hundreds of international students and detained several others on college campuses across the US, often without any warning or recourse for appeals.

The state department has said it is targeting those who were involved in activities that “run counter” to US national interests.

Many of those targeted have participated in some form of pro-Palestinian activity.

But there have been other cases where cancellations appear to be connected to those with some sort of criminal record, or legal infractions like driving over the speed limit, immigration lawyers have said.

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