Nigeria’s {financial} markets regulator says the nation is able to welcome stablecoin companies, offered they function inside a transparent and compliant regulatory framework that empowers Nigerians.
Talking on the inaugural Nigeria Stablecoin Summit held in Lagos, Dr. Emomotimi Agama, Director-Normal of the Securities and Trade Fee (SEC), affirmed Nigeria’s dedication to changing into a digital finance chief whereas guaranteeing market integrity and investor safety.
Delivering his keynote handle titled “Constructing a Regulatory Framework for Stablecoin Innovation: The Nigerian Perspective”, Dr. Agama declared:
“Nigeria is open for stablecoin enterprise, however on phrases that defend our markets and empower Nigerians. When historical past paperwork Africa’s {financial} revolution, right now might be remembered because the second we moved from potential to motion.”
Dr. Agama emphasised the rising function of stablecoins in Nigeria’s evolving digital financial system, noting their elevated use by freelancers, merchants, and companies in search of a hedge towards naira volatility.
“The Nigerian digital financial system is youthful, dynamic, and more and more decentralized. Stablecoins are taking part in a central function in facilitating safe, borderless transactions,” he stated.
He harassed the significance of constructing an Africa-centric regulatory framework tailor-made to native demographics, {economic} realities, and infrastructure wants—whereas studying from world greatest practices.
Agama highlighted Nigeria’s just lately enacted Funding and Securities Act (ISA 2025) as a landmark legislative improve. The Act consists of forward-looking provisions for digital asset oversight, offering the SEC with instruments to control stablecoins, crypto belongings, and rising {financial} applied sciences.
“The ISA 2025 strengthens our capability to handle innovation responsibly. It offers the authorized readability the business wants,” he said.
He additionally referenced the SEC’s regulatory sandbox, which continues to draw home and worldwide startups, together with these centered on stablecoin purposes. He affirmed the sandbox’s success in balancing innovation with danger mitigation.
Wanting forward, Dr. Agama envisioned Nigeria’s future as a stablecoin and fintech powerhouse.
“5 years from now, I wish to see a Nigerian stablecoin powering cross-border commerce from Dakar to Dar es Salaam. I need Lagos to change into the stablecoin capital of the worldwide South. This isn’t simply finance—it’s nation-building.”
Mr. Nathaniel Luz, President of the Africa Stablecoin Community, lauded Nigeria’s regulatory openness and help for innovation.
“It is a pivotal second for digital finance in Africa. Pleasant regulation and strategic imaginative and prescient are precisely what rising markets want,” Luz stated.
He added that the summit—Africa’s first devoted stablecoin convention—marked an essential step towards constructing a thriving and controlled digital asset ecosystem throughout the continent.
Final month, SEC stated it’s set to launch the ‘Crypto Sensible, Nigeria Sturdy’ initiative, aimed toward participating builders in co-creating a framework for stablecoin rules.
