The Securities and Exchange Commission has announced plans to develop a regulatory framework for stablecoins, aiming to facilitate cross-border trade, payments, and programmable finance in Nigeria’s burgeoning digital asset space.
In a statement made available to our correspondent by the commission on Monday, the Director-General of the SEC, Emomotimi Agama, revealed this initiative during his keynote address at the 2025 Decentralised Finance Conference held in Lagos.
He emphasised that the Commission is actively collaborating with developers to co-create a robust regulatory environment for stablecoins, particularly those pegged to the naira.
Agama explained that the stablecoins under consideration will be fully backed by verifiable reserves and subject to regular audits by independent custodians. This approach is designed to foster trust and transparency in the digital assets’ ecosystem, moving beyond mere speculation to support real-world economic activities.
“The future of Nigeria’s digital assets ecosystem depends on three pillars: collaboration, innovation, and trust,” he said, highlighting the SEC’s commitment to attracting credible players while shutting out bad actors through an enhanced, risk-based licensing system.
To complement this effort, the SEC has launched the “Crypto Smart, Nigeria Strong” initiative targeted at educating young investors on blockchain principles, scam prevention, and the benefits of long-term investing. This programme aims to reach youths across schools, universities, and social media platforms.
Agama also noted the increasing participation of Nigeria’s youth in cryptocurrency, with over 65 per cent of users under the age of 35. Many of these digital natives are financially underserved by traditional banking, viewing digital assets as tools for saving, investing, transacting, and wealth creation on their terms.
In addition to stablecoins, the SEC is reviewing pathways for digital asset Exchange Traded Funds, custodial wallets for pension funds whose assets currently stand at N16tn and licensed asset managers offering tokenised securities to institutional investors. These moves are expected to unlock long-term capital and bring greater credibility and stability to the sector.
The Commission’s proactive regulatory approach signals Nigeria’s readiness to harness digital finance innovations to boost economic growth, deepen financial inclusion, and enhance Nigeria’s position in global digital trade.
The PUNCH reported that the Nigerian Exchange Group and the Securities and Exchange Commission have reaffirmed their commitment to deepening capital market partnerships with China in a renewed push to position Nigeria’s capital market as a strategic platform for cross-border investment flows.
