Section 233 Investments and Securities Act

Section 233 of the Investments and Securities Act 2025 is about Power to issue directives to a commodities exchange. It is under Part XV (Commodities Exchange and Warehouse Receipts) of the Act. It provides as follows:

(1) The Commission may, where appropriate, issue directives to a commodities exchange with respect to—
(a) trading on the commodities exchange or pertaining to any commodities listed on the commodities exchange,

(b) the manner in which a commodities exchange carries on its business including the manner of reporting off-market transactions, or
(c) any other matter which the Commission considers necessary for the effective administration of this Act, and the commodities exchange shall comply with the directives.

(2) A commodities exchange which fails to comply with a directive given under subsection (1) shall be liable to a penalty of not less than N10,000,000, in the first instance and a further sum of not less than N500,000 for every day the violation continues.