Aderonke OniThe senate has passed the investments and securities bill 2024, boosting the operations of the Securities and Exchange Commission and the Nigerian capital market.During the report review on the bill, Tahir Monguno, senate chief whip, said the legislation would protect investors and eliminate fraudulent dealings in the capital market.
“The Bill seeks to… establish a new market infrastructure and wide-ranging system of regulation of investments and securities businesses in Nigeria especially in the areas of derivatives, systematic risk management, financial market infrastructure and Ponzi scheme and platforms,” Izunaso said. “It will protect the integrity of the security market against all forms of market abuse and insider dealing. It will prevent unauthorised, illegal, unlawful, fraudulent and unfair trade practices, relating to securities and investments,” he said.