The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) cheerfully welcomes the enactment of the Investment and Securities Act (ISA) 2025, recently signed into law by His Excellency, President Bola Ahmed Tinubu. This landmark legislation represents a critical advancement in Nigeria’s capital market framework and signals a new era for the country’s digital asset and Web3 ecosystem.
In its official statement, BICCoN describes the ISA 2025 as a transformative milestone that offers long-awaited regulatory clarity and legitimacy to blockchain-based innovations. For the first time, digital and virtual assets are formally recognized as securities, enabling a structured path for the licensing and oversight of Virtual Asset Service Providers (VASPs) and other digital asset operators.
The legislation also introduces robust investor protection provisions, including the criminalization of Ponzi schemes and fraudulent investment platforms that have long plagued Nigeria’s investment ecosystem. These measures are expected to strengthen public trust and foster sustainable innovation in the blockchain space.
BICCoN commends the Securities and Exchange Commission (SEC) and the National Assembly for their foresight in crafting a legal framework that balances innovation with investor protection. The Committee also underscores the importance of implementation that is transparent, inclusive, and flexible—particularly as blockchain technologies evolve rapidly across use cases like decentralized finance (DeFi), non-fungible tokens (NFTs), and artificial intelligence (AI)-powered agents.
The statement further calls for a harmonized regulatory environment through active collaboration between the SEC, the Central Bank of Nigeria (CBN), and the National Information Technology Development Agency (NITDA). BICCoN emphasizes that coordinated oversight is essential to eliminate regulatory fragmentation and create an innovation-friendly landscape for local and international players.
While praising the ISA 2025, BICCoN also encourages a flexible and risk-sensitive interpretation of the law—especially regarding the classification of digital assets as securities. A one-size-fits-all approach, the Committee warns, could inadvertently stifle innovation.
As Nigeria positions itself at the forefront of Africa’s digital economy, BICCoN reaffirms its commitment to working with all stakeholders—regulators, innovators, investors, and civil society—to shape a transparent, secure, and globally competitive blockchain ecosystem.
📄 To read BICCoN’s full public statement on the ISA 2025, [click here to download].