An Ambassador of the Corporate Affairs Commission (CAC), Mr Michael Nwabufo, has applauded the Commission’s digital transformation, describing it as a defining milestone in Nigeria’s economic history, while also calling for stronger regulation for crypto vendors to protect players across the country.

While emphasising the need for regulatory discipline and compliance, especially in emerging sectors such as cryptocurrency and digital assets, Nwabufo expressed concern over the rise of unregulated crypto platforms operating without proper oversight.

He said: “Over time, we have witnessed a troubling rise in unregulated and non-compliant crypto platforms. Many Nigerians have suffered financial losses from entities that operate without proper oversight, accountability, or regulatory approval.

“This situation is not only damaging to individuals, but also harmful to the credibility of Nigeria’s digital and financial ecosystem,” he said.

Nwabufor, who is also the National President of the Practitioners of Content Creators, Skit-Makers, and Influencers Guild of Nigeria (PCCSIGN), urged cryptocurrency and digital asset vendors to comply strictly with the regulatory framework of the Securities and Exchange Commission (SEC).