Newscenter Media News The Senate on Wednesday passed the Investment and Security repeal and re-enactment Bill, 2024.
This followed the adoption of report of the Senate Committee on Capital Market presented by the chairman, Osita Izunaso, at the plenary in Abuja.
In his presentation, Izunaso said stakeholders at the public hearing on the bill were unanimous in their support for its passage.
He said the capital market required systemic but substantial updates to align with evolving financial market and regulatory frameworks globally.
This, according to him, had become necessary to make it more attractive to both local and foreign investors.
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The lawmaker said: “The re-enactment of this proposed legislation will undoubtedly provide significant opportunity to drive the growth of the capital market and diversification. This will create a conducive atmosphere for investors in the Nigerian capital market.”
He explained that the bill would help to address modern forms of financial malpractices and reinforce inventors’ confidence by engendering robust and sustainable economic and social relations.
“The passage of the bill will bring about diversity and growth in the capital market through market offerings that would form foundation for economic expansion, thereby creating job opportunities within the Nigerian capital market,” Izunaso added.
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