By Mercy Adewunmi
In a significant move towards promoting economic growth and protecting investors, the Nigerian Senate has passed the second reading of the Investments and Securities Bill 2024. This bill, which aims to replace the outdated Investments and Securities Act of 2007, received overwhelming support from Senators who believe in the importance of regulating the capital market.
Led by Senate Leader Senator Opeyemi Bamidele and Senator Osita Izunaso, the initiative has been hailed as a crucial step towards strengthening Nigeria’s economy. The bill seeks to enforce stricter regulations and enhance market transparency, ultimately creating a more stable and secure environment for investors.
President of the Senate Godswill Akpabio, who referred the bill to the committee on the capital market for further legislation function, emphasized the significance of this legislation in driving economic growth. The Senate also approved a bill seeking to establish a Federal University of Agriculture in Akure, Ondo State, highlighting the government’s commitment to investing in education and development.
With these landmark bills making their way through the legislative process, Nigeria is poised for positive change and growth in its capital market and education sector. This legislative progress marks a promising step forward in the country’s journey towards economic prosperity and stability.
