Nigeria SEC 2025 Trading New Regulatory Guidelines

Latest developments in 2025

The Nigerian Securities and Exchange Commission significantly advanced its regulatory framework for cryptocurrency trading and trading platforms in 2025, marking a new era for the country’s digital asset market. Key developments include:

• Comprehensive integration with the banking system The Central Bank of Nigeria and the SEC have reached an agreement to allow licensed financial institutions to facilitate cryptocurrency transactions under strict compliance protocols.
• Licensing Progress More than 30 digital asset platforms have obtained official registration, and there are currently 15 fully operational exchanges serving the Nigerian market.
• regulatory sandbox The SEC has introduced a regulatory sandbox program that allows innovative crypto projects to test services in a controlled environment.
• Technical infrastructure All licensed platforms are required to implement advanced Know Your Customer/Anti-Money Laundering (KYC/AML) systems and cybersecurity frameworks.

These developments signify significant progress in Nigeria’s cryptocurrency regulatory environment, making the country a potential regional hub for regulated digital asset trading in Africa.

The framework of the new guidelines

The Nigerian SEC has issued a new set of guidelines for crypto trading and regulation, marking a new milestone for the country’s crypto market. The guidelines document is 54 pages long, titled “New Rules on Digital Asset Issuance, Platform Provision, and Custody,” and is divided into five sections:

• Part I: Rules for Issuance of Digital Assets and Securities
• Part II: Digital Asset Offering Platform (DAOP) Registration Requirements Rules
• Part III: Digital Asset Custodian (DAC) Registration Requirements Rules
• Part IV: Rules for Virtual Asset Service Providers (VASP)
• Part V: Digital Asset Exchange Rules

Key rules and regulations

• Definition of digital assets Digital assets are digital tokens that represent the issuer’s debt or equity and other assets.
• Initial Assessment Filing Any proposal to offer digital assets for trading within Nigeria or targeting Nigerian individuals must submit a project assessment form and a white paper. Project white papers that have not been approved by the SEC must include a disclaimer stating that such white papers do not constitute an offer for sale.
• registration fee The fees required for registering a digital asset service platform include a processing fee of 300,000 Naira, a registration fee of 30,000,000 Naira, and sponsorship fees of 100,000 Naira. The minimum paid-up capital is 500 million Naira, which includes bank balances, fixed assets, or investments in listed securities; as well as a current Fidelity bond that covers at least 25% of the minimum paid-up capital for a Digital Asset Exchange (DAX).
• Risk Management All market participants must develop disaster recovery plans and risk management strategies to protect the interests of asset holders and prevent losses caused by security violations or fraudulent activities.
• Token Economics The maximum amount of funds that can be raised within any continuous 12-month period is capped at 10 billion Naira. Issuers must hold at least 50% of the equity, while the remaining 50% can be sold or transferred until the completion of the initial digital asset issuance. There are no investment limits set for qualified institutions and high-net-worth investors, but the maximum investment limit for retail investors is 200,000 Naira per issuer, with a total investment limit not exceeding 2 million Naira within 12 months.
• Obligations of Market Participants All participants in the digital asset market must uphold the interests of their clients and ensure that all fees charged are fair, reasonable, and transparent.

Conclusion

The new regulatory guidelines from the Securities and Exchange Commission of Nigeria provide a clear framework for the country’s cryptocurrency market, promoting the legitimization and widespread adoption of digital assets. By fully integrating with the banking system, introducing regulatory sandbox programs, and mandating advanced technological infrastructure, Nigeria is expected to become a regional hub for regulated digital asset trading in Africa. These measures not only protect the interests of investors but also provide room for the development of innovative projects.