Nigeria SEC Admits Seven New Companies to Crypto Regulatory Sandbox

Nigeria's cryptocurrency regulatory framework has expanded further after the Securities and Exchange Commission (SEC) admitted seven additional companies into its Accelerated Regulatory Incubation Programme (ARIP). The newly admitted firms are Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd, and Blockvault Custodian Ltd.

The Commission granted these companies Approval-in-Principle (AIP), allowing them to operate within the regulatory sandbox under defined conditions while remaining subject to ongoing regulatory oversight. This approval does not constitute a full operating license.

Luno Fintech Nigeria Limited, one of the newly admitted firms, described the approval as a significant step in its long-term operations in Nigeria. The company said it plans to broaden its institutional offerings, including digital asset infrastructure and stablecoin applications.