Nigeria: SEC To Develop Enabling Regulation For Digital Assets

The Securities and Exchange Commission (SEC) of Nigeria has acknowledged the emerging importance of digital assets like crypto assets and committed itself to leading efforts towards developing efficient regulatory framework for the digital assets segment.

Director-General, SEC, Mr. Lamido Yuguda made the commitment at the joint session of the Senate Committee on Banking, Insurance and other Financial Institutions, Capital Market and ICT and Cyber Crime in Abuja.

He said SEC was committed to enhancing financial inclusion in the country through technology.

According to him, SEC recognises the disruption of FinTech in the financial industry and aims to create an enabling regulatory environment that would ensure a balance between investor protection and technological advancement.

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