Section 4 Investments and Securities Act 2025

Section 4 of the Investments and Securities Act 2025 is about Composition of the Board of the Commission. It is under Part II (Establishment of the Governing Board of the Commission) of the Act. It provides as follows:

(1) There shall be for the Commission, a Governing Board (in this Act referred to as “the Board”), which shall be responsible for the policy and general administration of the affairs of the Commission.

(2) The Board shall consist of —
(a) a part-time Chairman;
(b) the Director-General who shall be the chief executive and accounting officer;
(c) three full-time Commissioners one of whom shall be a legal practitioner qualified to practice in Nigeria with a minimum of 12 years post call to bar experience;
(d) a representative of the Central Bank of Nigeria not below the rank of a Director;

(e) a representative of the National Pension Commission not below the rank of a Director;
(f ) a Director of the Federal Ministry responsible for finance; and
(g) two part-time Commissioners with proven integrity and knowledge of capital market matters, one of whom shall be a legal practitioner qualified to practice in Nigeria with a minimum of 12 years post call to bar experience.