Nigeria opens doors to stablecoin firms under regulatory oversight
Nigeria’s SEC Director-General Emomotimi Agama said the country welcomes stablecoin firms, marking a shift toward supportive crypto policy.
Nigeria’s Securities and Exchange Commission (SEC) Director-General Emomotimi Agama said the country was open to stablecoin businesses that comply with local regulations.
According to a Thursday report by English-language local news outlet, The Cable, Agama said stablecoin companies that complied with local regulations were welcome in Nigeria. “Nigeria is open for stablecoin business, but on terms that protect our markets and empower Nigerians,” he said.
“We have onboarded some firms focused on stablecoin applications, all while ensuring compliance with core risk management principles,” Agama said, adding that those companies were admitted through the SEC’s regulatory sandbox.
