WATCH THE VIDEO HERE The newly signed Investment and Securities Act (ISA 2025) has given the Securities and Exchange Commission the power to obtain user data from all telecom and electronic communication companies in Nigeria in the process of implementing the law. This provision in Section 3(4)(j) of the Act also allows the Commission to have access to the content of communication in case of any violation of the law. According to the Act, this new provision is designed to empower the Commission to obtain phone, internet, and electronic records, which would immensely facilitate its investigation and enforcement process. Under the powers of the Commission in the new law, the Act states, among others, that: “The SEC shall have the powers to obtain subscriber records held or maintained by internet service providers, telephone service providers and other electronic communication providers located within Nigeria which identify subscribers, payment details and other relevant details including content of communication in connection with the violation or suspected violation of this bill or other securities laws, code and regulations.” Earlier on Tuesday in a TV interview, the Director-General of the SEC, Mr. Emomotimi Agama, said with the new law, the Commission now has full powers to tackle the menace of Ponzi schemes in the country. According to him, until now, the Commission had no legal backing to prosecute Ponzi scheme operators, adding that this had made it difficult to bring them to justice. Naijaonpoint recently reported that President Bola Ahmed Tinubu had signed into law the Investment and Securities Act (ISA) 2025, marking a major milestone in Nigeria’s capital market reform.
Nigeria’s new Investment Act empowers SEC to get user data from tech firms
