379 results found

As the Apex regulatory body for the Nigerian capital market, the Securities and Exchange Commission (the "SEC") released a circular on June 16, 2021 notifying members of the public...

On July 8, 2021, the Central Bank of Nigeria ("CBN"), Nigeria's apex financial and monetary regulator, issued a new regulatory regime for Payment Service Banks ("PSBs")...

The Central Bank of Nigeria ("CBN") issued the Guidelines on the Operation of Bank Accounts for Virtual Asset Service Providers ("VASPs") dated 22nd December, 2023 (the "Guidelines")...

In our previous publication we discussed Nigeria's digital future in light of the Draft Blockchain Adoption Strategy ("Strategy") formulated by the government of the Federal Republic of Nigeria...

Nigeria faces a mounting crisis as digital asset fraud schemes have defrauded citizens of nearly ₦911 billion between 2000 and 2023, with recent collapses like CBEX affecting hundreds of thousands of victims. As cryptocurrency transactions shift from formal banking channels to peer-to-peer networks, Nigerian regulators struggle to balance innovation with investor protection in an increasingly complex digital financial landscape.

Nigeria's Securities and Exchange Commission has released comprehensive proposed rules governing digital and virtual asset operations, introducing distinct regulatory categories for exchanges, custodians, and tokenisation platforms. The framework establishes capital requirements ranging from ₦200 million to ₦2 billion, detailed stablecoin reserve requirements, and enhanced investor protection measures across the digital asset value chain. Businesses operating in Nigeria's digital asset ecosystem

On 26th October 2022, the President of the Federal Republic of Nigeria directed the Central Bank of Nigeria ("CBN") to redesign the N200.00, N500.00 and N1000.00 bank notes.

As the world becomes more digitally dependent, there has been an increase in the use of digital assets such as cryptocurrency, Non-fungible tokens (NFTs), Central Bank Digital Currencies (CBDCs)...

Money Lending in Nigeria has evolved from traditional banking to a more flexible and technology-driven system which accommodates FinTechs and other digital companies...

The early skepticism surrounding cryptocurrencies is giving way to broader acceptance, with stablecoins playing a central role in this shift. Stablecoins are digital tokens that are designed to remain stable in value...

The rise of virtual assets and digital exchanges has introduced innovative ways of conducting financial transactions. The Securities and Exchange Commission ("SEC" or the "Commission")...

In April 2021, the artwork of an important 20th-century African-American artist, named Jean-Michel Basquiat drew huge public attention, at least in the United States.

The Investment and Securities Act (ISA) of 2025 was signed into law on March 31st, 2025, by President Bola Ahmed Tinubu, repealing and replacing the Investment and Securities Act (ISA) of 2007...

Nigerian fintech startups navigate a complex regulatory landscape involving the Central Bank of Nigeria, the Securities and Exchange Commission, and the Nigeria Deposit Insurance Corporation.

The Financial Technology (Fintech) sector in Nigeria has experienced significant growth in the last few years, even in the face of dwindling growth in other sectors.

Nigeria's Revenue Service has issued comprehensive guidelines establishing the country's first administrative framework for taxing virtual assets and cryptocurrency transactions. The new rules classify digital assets into six categories and outline detailed compliance obligations for individuals, companies, and Virtual Asset Service Providers operating in Nigeria's digital economy.

Riding on the back of advances in technological and digital innovation, increased consumer expectations and universal aspiration for financial inclusion, financial technology is rewriting the scope and roles ...