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Nigeria’s SEC Affirms All Digital Assets Are Securities in New Rulebook
Rules look to clarify crypto’s role in the economy by providing a regulatory framework.
By Sam Reynolds
Updated May 11, 2023, 5:23 p.m. Published May 16, 2022, 4:21 a.m.
A digital asset is a token that represents assets such as a debt or equity claim on the issuer, and thus by default is under the purview of the Securities and Exchange Commission of Nigeria, the regulator said in a new rulebook published over the weekend.
- The Nigerian SEC’s “New Rules on Issuance, Offering Platforms and Custody of Digital Assets” circular looks to give regulatory clarity to the booming market, which is growing dramatically year on year in a nation of tech-comfortable people.
- Exchanges registered in-country need to be capitalized with at least NGN 500,000 (US$1,204) in paid-up capital, and post a fidelity bond for at least 25% of this amount, according to the rules.
- The SEC also requires exchanges to be “fair, reasonable, and transparent” with their fees.
- Registered exchanges will also need to provide the SEC with a list of assets they intend to trade and get a “no objection” letter for each asset.
- In September, Nigeria’s SEC said it had established a specialized division to study crypto investments.
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알아야 할 것:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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