The regulatory body that approved local cryptocurrency exchanges in Nigeria, enhancing the crypto sector.
Nigeria’s Market Regulator Adds Seven Crypto and Fintech Firms to Its Watch List
The SEC cleared seven fintech firms for provisional entry into its regulatory sandbox, ARIP. The firms include Bitbarter Technologies, Luno Fintech Nigeria, GetEquity, Koinkoin Global Network, Wrapped CBDC, Trovotech, and Blockvault Custodian.
Nigeria Central Bank Announces Pilot Program for Virtual Asset Service Providers
The CBN has launched a pilot program for Virtual Asset Service Providers (VASPs) to regulate digital assets. The pilot program will run for six to nine months and will test the operations of selected VASPs in a controlled environment.
What the National Fintech Regulatory Commission Bill means for innovation
The National Fintech Regulatory Commission Bill proposes a unified body to oversee all fintech activities in Nigeria. The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) currently provide strong regulatory support for fintech growth.
Nigeria opens the door to crypto, but still keeps major exchanges offline
Nigeria has legally recognized cryptocurrencies and established a licensing framework for crypto businesses. In February 2024, the Nigerian Communications Commission directed telecom providers to block access to major cryptocurrency platforms.
Nigeria Moves to Create Single Regulator for Fintechs
The Nigerian Fintech Regulatory Commission (NFRC) is proposed to serve as the single authority for licensing and overseeing fintech activities. The bill aims to simplify Nigeria's complex fintech regulatory environment currently managed by multiple agencies.
