PANews reported on April 1 that according to Bitcoin.com, the Nigerian Investment and Securities Act (ISA) 2025, recently signed by Nigerian President Bola Ahmed Tinubu, effectively ended the uncertainty surrounding the status of cryptocurrencies. The new bill actually repealed the Investment and Securities Act No. 29 of 2007. This revised securities law "officially" recognizes cryptocurrencies as an asset class. This recognition not only eliminates the uncertainty surrounding cryptocurrencies, but also means that they are no longer prohibited assets. In addition, law enforcement agencies that have "harassed" people involved in these assets will have to stop such behavior.
Emomotimi Agama, Director General of the Nigerian Securities and Exchange Commission (SEC), said that the new law empowers the Nigerian Securities and Exchange Commission to promote innovation and protect investors more effectively, which repositions Nigeria as a competitive destination for attracting domestic and foreign investment. In addition to identifying digital assets and investment contracts as securities, the Investment and Securities Act 2025 also explicitly places virtual asset service providers (VASPs) under the supervision of the Nigerian Securities and Exchange Commission. The law also prohibits Ponzi schemes and imposes severe penalties on the planners of the scam, including imprisonment.
