The Nigerian securities regulator has cautioned that some applicants for virtual asset service provider (VASP) licenses do not meet regulatory requirements. SEC Welcomes Stakeholder Feedback The Director-General of the Nigerian Securities and Exchange Commission (SEC), Emotimi Agama, warned that some virtual asset service provider (VASP) license applicants do not meet the regulator’s requirements and will […]
The Nigerian Securities and Exchange Commission is exploring the use of blockchain technology to build trust in capital markets. Bridging the Trust Gap The Nigerian Securities and Exchange Commission (SEC) is exploring the use of blockchain technology to build trust in capital markets. According to Director-General Emomotimi Agama, harnessing this technology is key “to bridging […]
Nigeria introduced an “oil-for-naira” program by selling crude oil to Aliko Dangote’s refinery in a bid to stabilize the weakening local currency. Blackrock announced its support for UStb, a new stablecoin from Ethena Labs. The SEC has formally appealed a court ruling in its case against Ripple Labs, citing significant legal errors. Coinbase is optimistic […]
The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures aim to combat inflation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms implemented have restored the bank’s credibility and boosted […]
PRESS RELEASE. Lagos, Nigeria, 29th August 2024 – On Thursday, African-founded cryptocurrency exchange, Quidax announced that it has become the first crypto exchange to receive a provisional operating license by Nigeria’s Securities and Exchange Commission (SEC) as a Digital Assets Exchange. The license which was presented by the Securities and Exchange Commission grants Quidax the […]