Nigeria Embraces Stablecoin Revolution with Clear Regulation and Vision

The Securities and Exchange Commission (SEC) has declared Nigeria ready to embrace stablecoins, setting the stage for regulatory clarity and broader adoption in Africa’s most populous nation.

Speaking at the inaugural Nigeria Stablecoin Summit in Lagos, SEC Director-General Dr. Emomotimi Agama said Nigeria will welcome stablecoin businesses that operate within frameworks designed to empower citizens and safeguard financial markets.

Delivering his keynote address titled “Building a Regulatory Framework for Stablecoin Innovation: The Nigerian Perspective,” Dr. Agama emphasized that the country is prepared to move from potential to action. “Nigeria is open for stablecoin business, but on terms that protect our markets and empower Nigerians,” he declared.

Dr. Agama pointed to the growing use of stablecoins among Nigerian freelancers, entrepreneurs, and traders navigating persistent naira volatility. He highlighted that stablecoins are becoming central to borderless transactions in a “youthful, dynamic, and increasingly decentralized digital economy.”

As stablecoins rise in popularity across Africa, Agama called for a distinctly African regulatory approach, one that reflects regional demographics, infrastructure limitations, and economic realities, while also borrowing from global standards.

A key enabler of Nigeria’s stablecoin readiness is the recently passed Investment and Securities Act (ISA 2025). Agama described the Act as a landmark upgrade that gives the SEC robust tools to supervise stablecoins, cryptocurrency assets, and broader fintech innovations.

“The ISA 2025 strengthens our ability to manage innovation responsibly. It provides the legal clarity the industry needs,” he said, adding that Nigeria’s regulatory sandbox continues to attract serious domestic and global players exploring stablecoin use cases.

Dr. Agama laid out an ambitious vision for Nigeria to lead Africa’s stablecoin landscape, predicting that in five years, a Nigerian stablecoin could facilitate trade across the continent. “I want Lagos to become the stablecoin capital of the global South. This is not just finance, it’s nation-building,” he said.

His comments underscored Nigeria’s long-term ambition to become a hub for digital finance innovation and financial inclusion through blockchain-based technologies.

Nathaniel Luz, President of the Africa Stablecoin Network, praised Nigeria’s regulatory openness and vision. “This is a pivotal moment for digital finance in Africa. Friendly regulation and strategic vision are exactly what emerging markets need,” Luz remarked at the summit, the first of its kind focused on stablecoins in Africa.

He noted that the event marks a critical step toward building a safe, regulated, and thriving digital asset ecosystem across the continent.

As part of its broader digital finance strategy, the SEC also revealed plans to launch the Crypto Smart, Nigeria Strong initiative. This program aims to engage developers and young Nigerians in co-creating a stablecoin regulatory framework and boosting blockchain education.

The initiative will target schools, universities, and digital platforms, teaching users how to spot scams, understand blockchain basics, and make long-term investment decisions.

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