…launches ‘Crypto Smart, Nigeria strong’ initiative
The Securities and Exchange Commission (SEC) is collaborating with developers and stakeholders to design a regulatory framework for stablecoins in Nigeria, as part of broader efforts to ensure responsible growth within the digital assets space.
Speaking at the 2025 Decentralised Finance (DeFi) Conference held in Lagos, the Director General of the SEC, Dr. Emomotimi Agama, said the Commission is not opposed to innovation in the DeFi space but is determined to attract credible operators while deterring harmful practices.
According to him, the SEC sees regulation as a tool to build trust, ensure investor protection, and integrate DeFi into Nigeria’s broader financial system in a way that supports sustainable development.
To foster awareness and promote responsible participation in the digital economy, the SEC is set to roll out a new initiative dubbed “Crypto Smart, Nigeria Strong.”
The programme, which targets young investors in schools, universities, and across social media platforms, will focus on blockchain fundamentals, scam detection, and the importance of long-term investing.
“The future of Nigeria’s digital assets ecosystem depends on three pillars: collaboration, innovation, and trust,” Agama stated.
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He added that the SEC is working to evolve its regulatory architecture through a streamlined licensing regime that is more transparent and risk-based.
The Commission is introducing tiered licensing for Virtual Asset Service Providers (VASPs), reducing application timelines, and deploying automated tools for compliance monitoring.
As part of this transformation, the SEC is actively developing a framework for Naira-pegged stablecoins. These digital tokens will be fully backed by verifiable reserves, undergo regular audits by independent custodians, and support cross-border payments, programmable finance, and trade.
Agama also noted that more than 65% of Nigeria’s cryptocurrency users are under the age of 35, reflecting a demographic that is digitally native and often excluded from traditional banking systems. For these users, digital assets represent a way to invest, save, transact, and build financial independence.
He said the SEC is aware of this reality and is adjusting its approach to better support the aspirations of this growing segment of the population.
Looking ahead, the Commission is reviewing additional pathways to deepen the digital asset market, including digital asset-based Exchange Traded Funds (ETFs), custodial wallets for pension funds, and tokenised securities offered by licensed asset managers.
With Nigeria’s pension fund assets currently valued at over N16 trillion, Agama said the SEC is optimistic that these innovations will unlock long-term capital, promote inclusion, and bolster credibility across the digital financial landscape.