Nigeria Opens Stablecoin Market with New SEC Regulatory Framework

Nigeria has pivoted from its restrictive stance on digital assets, introducing a comprehensive regulatory framework for stablecoins under the Securities and Exchange Commission (SEC). The Investment and Securities Act 2025 now classifies stablecoins as regulated securities, marking a significant shift in the country's approach to crypto regulation.

Stablecoin issuers must comply with stringent licensing, reserve, and operational requirements to access Nigeria's market. The SEC's Accelerated Regulatory Incubation Program will oversee digital asset innovation while maintaining investor protections. Meanwhile, the Central Bank of Nigeria will focus exclusively on payment systems, creating a clear division of regulatory responsibilities.

This MOVE signals Nigeria's recognition of stablecoins' role in modern finance and could catalyze broader adoption across Africa's largest economy. The framework balances market development with risk mitigation—a template other emerging markets may follow.