Citing his appointment as evidence of the president’s belief in the industry, Emomotimi Agama, SEC DG, revealed that President Bola Ahmed Tinubu endorsed cryptocurrency long before Donald Trump did.
Speaking at the African Financial Industry Summit in Casablanca, Mr. Agama stated,
“Even before President Trump started thinking about that, our own dear president has already thought about it.”
Advancing Financial Systems
Speaking at the summit, Mr. Agama emphasized the importance of integrating African financial systems to serve all Africans seamlessly.
Cryptocurrency Regulation in Nigeria
Regulatory Incubation Programs has been launched by the SEC to oversee crypto exchanges and manage risks, with efforts to democratize crypto for Nigerian youth and the wider African market.
Key Milestones
Licensing: Quidax and Busha became the first licensed crypto exchanges in Nigeria this year.
Global Ranking: Nigeria has the highest crypto adoption in Africa and the second highest adoption, globally.
The SEC’s initiatives coupled with President Tinubu’s support signals substantial growth for cryptocurrency.
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