The Nigerian Securities and Exchange Commission denies issuing temporary cryptocurrency licenses

The Director-General of the Nigerian Securities and Exchange Commission (SEC), Emomotimi Agama, told Techcabal via text message that contrary to some reports, it has not yet issued any cryptocurrency licenses. The SEC plans to start issuing licenses for digital services and tokenized assets in August 2024. This move comes after increasing scrutiny on cryptocurrency exchanges and pushing for regulation in the industry, including requiring exchanges to delist Naira from peer-to-peer transactions to prevent currency manipulation. "No approvals have been given to anyone yet."