Nigeria signals support for stablecoins under strict regulation, aiming to boost innovation while protecting users and the local economy.
Nigeria’s SEC says it’s ready to support stablecoins—under clear regulation. At the Nigeria Stablecoin Summit, SEC Director-General Emomotimi Agama confirmed Nigeria is open to stablecoin business, but only with protections in place.
He noted rising stablecoin use among Nigerians coping with naira volatility and stressed the need for local rules tailored to Africa’s realities.
The new ISA 2025 law gives the SEC legal backing to regulate digital assets. Several stablecoin startups are already in the SEC’s regulatory sandbox.
Agama envisions Nigeria as a future stablecoin hub powering cross-border trade. Nathaniel Luz of the Africa Stablecoin Network called it a vital step for Africa’s digital future.
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