Senate Passes Landmark Bill to Reform Nigeria’s Capital Market
In a historic move, the Nigerian Senate approved the second reading of the Investments and Securities Bill 2024 on Tuesday, marking a significant step towards overhauling the country’s capital market regulations.
Led by Senate Leader Senator Opeyemi Bamidele and Senator Osita Izunaso, the bill aims to modernize and streamline the existing Investments and Securities Act of 2007 to foster economic development.
During the debate, several Senators voiced their support for the bill, emphasizing the importance of protecting investors through stricter regulations and improved market transparency.
Senate President Godswill Akpabio hailed the bill as a critical tool for boosting Nigeria’s economy and referred it to the committee on the capital market for further scrutiny.
In a separate development, a bill proposing the establishment of the Federal University of Agriculture in Akure, Ondo State, successfully passed its second reading. Sponsored by Senator Adegbonmire Adeniyi, the bill was referred to the Senate Committee on Tertiary Education and Tetfund for review within four weeks.
