Nigeria is on the brink of exiting the Financial Action Task Force (FATF) grey list, following the inclusion of digital assets regulation in the newly signed Investments and Securities Act 2025 (ISA 2025). SEC Director-General, Dr. Emomotimi Agama, explained that the new law offers a pathway for Nigeria to address the anti-money laundering (AML) and counter-terrorism financing (CFT) deficiencies that led to its grey listing in February 2023.
Dr. Agama emphasized that the law would foster trust in the digital assets space and help protect businesses operating within Nigeria. The SEC aims to guide participants in this sector to ensure their activities align with national interests. He also clarified that cryptocurrency trading does not directly weaken the naira and that the SEC is prepared to regulate and clamp down on non-compliant entities.
Collaboration with other regulatory bodies, including the Central Bank of Nigeria and the EFCC, will ensure that digital asset activities do not harm Nigeria’s security and economic stability. Agama also highlighted the SEC’s risk management approach and incubation programs to evaluate potential risks in the digital asset space.
The new regulatory framework is expected to increase investor confidence by providing clarity and safety, ultimately helping Nigeria exit the grey list and strengthen its position in the global financial community.
