The regulatory body that approved local cryptocurrency exchanges in Nigeria, enhancing the crypto sector.
Scaling with discipline may be the new playbook for Nigerian fintechs
The Central Bank of Nigeria sanctioned several high-profile fintechs for compliance failures related to KYC and AML processes. Regulatory expectations have caught up with the scale of the fintech industry, marking the end of the grace period.
Ghana’s Central Bank mandates crypto firms to register by August 15
Ghana's central bank requires all crypto service providers to register by August 15, 2025. The new directive allows registered firms to access banking services, including cedi conversions and payroll management.
Nigeria Fintech Funding Trends 2025
Nigeria accounted for 47% of all fintech deals and 44% of total funding in Africa in 2024. Major funding rounds included Moove and Moniepoint, each raising $110 million.
SEC flags unregistered investment schemes by PWAN/PWAN MAX
The SEC has warned the public about PWAN and PWAN MAX operating outside regulatory frameworks. PWAN/PWAN MAX is not registered to solicit funds or engage in capital raising activities.
SEC warns against Tofro.com, flags crypto platform as unregistered and fraudulent
The SEC warned that Tofro.com is not registered or authorized to solicit investments from the Nigerian public. Tofro.com displays multiple red flags associated with Ponzi schemes, including promises of unusually high returns.
