Nigerian Securities and Exchange Commission denies issuing provisional cryptocurrency license

Emomotimi Agama, the Director-General of the Nigerian Securities and Exchange Commission (SEC), stated via text message to Techcabal that contrary to some reports, they have not yet issued any cryptocurrency licenses. The SEC plans to begin issuing licenses for digital services and tokenized assets in August 2024, following increased scrutiny of cryptocurrency exchanges and efforts to regulate the industry, including requiring exchanges to delist Naira from peer-to-peer trading to prevent currency manipulation. "No approvals have been given to anyone yet."