Nigeria's SEC Approves Seven More Crypto Firms Under Accelerated Regulatory Incubation Programme

The Securities and Exchange Commission (SEC) in Nigeria has approved seven more cryptocurrency companies under its Accelerated Regulatory Incubation Programme (ARIP), bringing the total number of approved firms to at least nine. The latest approvals include Luno Fintech Nigeria Limited, Koinkoin Global Network Limited, GetEquity Limited, Wrapped CBDC Ltd, Trovotech Ltd, Blockvault Custodian Ltd, and Bitbarter Technologies Limited.

The companies can now operate under the SEC's supervision while working towards full licensing. The approvals come shortly after the implementation of the Investments and Securities Act (ISA) 2025, which classifies virtual assets as securities under Nigerian law.

Luno Nigeria CEO Ayotunde Alabi welcomed the approval, saying it provides greater regulatory clarity and strengthens confidence among customers and partners.