Nigeria’s Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AIP) to seven additional cryptocurrency and digital asset companies under its Accelerated Regulatory Incubation Programme (ARIP), further strengthening the country’s regulated digital asset ecosystem.
According to the SEC, the Approval-in-Principle allows the companies to operate within the regulatory sandbox while remaining subject to ongoing supervision and compliance requirements. The Commission emphasized that the approval does not constitute a full operating licence, but confirms that the firms have met the initial requirements to participate in the ARIP framework.
The latest approvals represent the first new cohort admitted into the ARIP since 2024 and signal the SEC’s continued commitment to building a transparent, innovative, and well-regulated digital assets industry in Nigeria.
Nigeria has emerged as one of Africa’s largest cryptocurrency markets, with regulators increasingly adopting a balanced approach that encourages innovation while strengthening investor protection and market integrity. The ARIP programme serves as a pathway for virtual asset service providers to demonstrate compliance before progressing toward full registration under the SEC’s regulatory framework.
The inclusion of globally recognized companies such as Luno, alongside indigenous fintech and blockchain startups, is expected to boost confidence in Nigeria’s digital asset ecosystem and provide users with access to more regulated crypto products and services.
Industry stakeholders believe the latest approvals could encourage further investment, accelerate blockchain innovation, and reinforce Nigeria’s position as a leading cryptocurrency hub in Africa.
