News, data and analysis on tokenized assets, market design and digital economic systems.
Nigeria's securities regulator, established on 1 January 1980, which took oversight of token issuance, exchanges and custody once the Investments and Securities Act 2025 brought digital assets within the definition of securities.
Nigeria's securities regulator, established on 1 January 1980 under the Securities and Exchange Commission Decree No. 71 of 1979 and successor to the Capital Issues Commission of 1973. The Investments and Securities Act 2025 repealed the 2007 Act and brought digital assets and investment contracts within the statutory definition of securities, moving cryptoasset activity from tolerated to licensable and placing token issuance, exchanges and custody under the Commission's oversight. It admits incumbent operators through the Accelerated Regulatory Incubation Programme, clearing seven fintech firms on 2 July 2026 and two more on 3 July 2026, and granting approval-in-principle to GIGX Technologies and KuCoin Nigeria on 6 July 2026, an authorisation short of a full licence. It is therefore the gate any tokenized securities offering marketed to Nigerian investors must pass, with the Central Bank of Nigeria retaining authority over payments and foreign exchange.
Developments in which Securities and Exchange Commission, Nigeria is a named party, newest first.
The IMF Executive Board concluded its 2026 Article IV consultation with Nigeria on 9 June 2026 and identified stablecoin oversight as a priority. A follow-up IMF country note published on 16 June described stablecoins as a growing cross-border payment channel…
President Bola Tinubu signed the Investments and Securities Act 2025, which replaces the 2007 Act and widens the statutory definition of securities to include virtual and digital assets. The Act places virtual asset service providers, digital asset operators and digital asset exchanges under the supervision of the Securities and Exchange Commission, which announced the signing on 29 March 2025.
The Central Bank of Nigeria issued guidelines on banks' operation of accounts for virtual asset service providers, superseding the circulars of 12 January 2017 and 5 February 2021 that had barred regulated institutions from serving the sector. Banks were permitted to open designated and settlement accounts for VASPs licensed by the Nigerian securities regulator, but remained prohibited from holding or trading virtual currencies on their own account.
The Securities and Exchange Commission of Nigeria issued a statement setting out that "virtual crypto assets are securities, unless proven otherwise", placing the burden on issuers to file an initial assessment showing an asset is not a security before registration is required. The statement brought dealers, portfolio managers, investment advisers and custodians of digital assets within the registration perimeter, and gave existing offerings three months from implementation to comply.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
No tracking pixels. Unsubscribe in one click. We do not sell or share the list.