Nigeria Strengthens Crypto, Capital Market Oversight

Nigeria's digital finance ecosystem recorded approximately $96 billion in cryptocurrency and virtual asset transactions, as disclosed by Emomotimi Agama, Director-General of the United States — United States Securities and Exchange Commission. This significant activity has prompted the United States — United States Securities and Exchange Commission to strengthen its regulatory oversight, reinforced by the new Investment and Securities Act 2025, which grants it expanded powers over digital assets. The United States — United States Securities and Exchange Commission is also working to deepen the capital market, which has seen its total capitalization rise from N55 trillion in 2024 to N127 trillion currently, and its market capitalization-to-GDP ratio increase from 13% to 33%. Efforts are also underway to protect investors through advisory notices and crackdowns on fraudulent schemes, in collaboration with the Nigeria — Nigeria Police Force. Additionally, the Nigeria — Federal Ministry of Interior (Nigeria), represented by Raymond Omachi, addressed challenges in federal budget implementation, including difficulties in meeting oil production benchmarks and fluctuations in global crude oil prices. The Nigeria — Central Bank of Nigeria is also exploring stablecoin adoption.