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Flag of Nigeria in front of a clear blue sky
Last month, President Tinubu signed the Investment and Securities Act (ISA) 2025 into law, officially recognizing Bitcoin and other digital assets as securities.
Despite Nigeria consistently ranking within the top nations globally for Bitcoin adoption and P2P volumes, according to Chainalaysis’ reports, one thing has remained consistent throughout Bitcoin’s existence as an asset in the country: the lack of laws on the books recognizing and governing digital assets such as Bitcoin—until now.
This new development marks the first time Nigerian regulators have officially recognized Bitcoin, albeit as a security, which some would consider a misclassification.
Nevertheless, this brings much-needed regulatory clarity for the digital assets ecosystem and will usher in a new paradigm for the possibilities, innovation, and investments to thrive in the space.
The Investment and Securities Act (ISA) 2025
On March 29, the Nigerian government signed into law the Investments and Securities Act (ISA) 2025 as part of its planned rollout of sweeping capital markets reform.
The Act repeals the previous 2007 Investments and Securities Act No. 29, which governs the Nigerian Securities and Exchange Commission (SEC), to update the regulatory framework governing capital markets in Nigeria and address current economic realities and long-standing challenges, and will now govern the Nigerian SEC.
In a statement, the Nigerian SEC Director-General, Dr. Emomotimi Agama, highlighted the significance of the development: "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."
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