Jurisdiction reference
Nigeria
Regulator: SEC Nigeria. License/registration context: Licensing. 25 VASP/entity records are tracked by Plexo Institute in Nigeria. Official registry source: SEC Nigeria VASP. Data last updated: 2026-09-24.
The Investments and Securities Act, 2025 repeals the 2007 Act and establishes the Securities and Exchange Commission (SEC) as Nigeria’s apex capital market regulator. The SEC has broad powers to regulate, register, and supervise all securities, including digital and virtual assets, collective investment schemes, and exchanges (including “virtual and digital asset exchanges”). To issue or offer securities (including digital and virtual assets) to the public in Nigeria, prior SEC registration and approval are required. The Act is wide-ranging but does not explicitly mention or define stablecoins (fiat-, crypto-, commodity-, or algorithm-backed) as a special category.
Regulatory Status
- Jurisdiction code
- NG
- Regime
- Licensing
- Regulator
- SEC Nigeria
- Governing law
- SEC Rules on Digital Assets 2022
- Travel Rule
- Legislated
- Tracked entities
- 25
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed, algorithmic
- Yield-bearing stablecoins
- Restricted
- Currency
- NGN
Regulatory approach
CBN regulates monetary policy and payments. The SEC is created as the independent and apex regulatory authority for the Nigerian capital market, empowered to register, regulate, and supervise all market operators, securities (including digital/virtual assets), collective investment schemes, and exchanges. Its mandate is to maintain fair, efficient, and transparent markets, protect investors, and reduce systemic risk. The SEC can make rules, issue directives, audit, investigate, intervene in management, and cooperate with domestic and foreign authorities.
Licensed entities in Nigeria
Showing 8 of 25 regulated-entity records tracked in Nigeria by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| Blockvault Custodian LtdTrading Name: BLOCKVAULT | Registered | Fintech Operator |
| Busha Digital LimitedTrading Name: Busha | Registered | Fintech Operator |
| HousingExchange.NG LtdTrading Name: HXafrica | Registered | Fintech Operator |
| NASD OTC Securities ExchangeTrading Name: NASD OTC Securities Exchange | Registered | Fintech Operator |
| Obelix 4.1.1 Alternative | Registered | Fintech Operator |
| Trovotech LtdTrading Name: Trovotech | Registered | Fintech Operator |
| VineKross Technologies LtdTrading Name: Hashgreed | Registered | Fintech Operator |
| Wrapped CBDC LtdTrading Name: cNGN | Registered | Fintech Operator |
Browse all 25 records in the regulated-entity registry, including the remaining 17 in Nigeria.
Stablecoin laws in Nigeria
Primary legal texts Plexo Institute tracks for Nigeria.
- Investments and Securities Act, 2025 (enacted 2025-05-01)
The Investments and Securities Act, 2025 is a comprehensive legislative framework enacted by Nigeria to govern its capital markets and investment activities. The Act repeals and replaces the previous 2007 investments law, significantly modernizes regulatory oversight, and enhances protections and operational standards across the financial sector. Overall, the law represents a robust modernization of Nigeria’s capital markets regime, with the intent to strengthen market integrity, investor confidence, systemic risk management, and international cooperation.
- SEC Nigeria Digital Asset Guidelines (enacted 2022-05-13)
Establishes a framework for digital asset issuance, trading, and exchanges. Stablecoins are not singled out but fall under this regime.
Central bank digital currency in Nigeria
Plexo Institute tracks 1 central bank digital currency programme in Nigeria.
- eNaira — Status: Launched · Central bank: Central Bank of Nigeria (CBN) · Model: Retail · Technology: Hyperledger Fabric
Relationship Graph
Jurisdiction FAQ
Who regulates Nigeria?
The current Plexo Institute record lists SEC Nigeria as the regulator for Nigeria.
How many VASPs are tracked in Nigeria?
25 VASP/entity records are tracked by Plexo Institute in Nigeria.
What is the Travel Rule status in Nigeria?
The current Plexo Institute record lists the Travel Rule status for Nigeria as Legislated.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.