The recently signed Investment and Securities Act (ISA 2025) by President Bola Ahmed Tinubu marks a significant step in Nigeria’s fight against Ponzi schemes. Under the new law, promoters of these fraudulent schemes face a minimum of 10 years imprisonment and a fine of at least N40 million.
Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), emphasized during an interview that the Act provides the Commission with enhanced powers to prosecute offenders and recover profits gained through fraudulent activities.
Beyond financial penalties, the law ensures disgorgement of ill-gotten gains, aiming to restitute victims and deter future crimes.
The ISA 2025 also empowers SEC to access communication records for investigations, strengthening its ability to tackle illegal fund managers.
