Nigeria to tax cryptocurrency transactions as government tightens digital asset rules
Nigeria is revising its digital asset regulations to include taxation of cryptocurrency transactions. The Central Bank of Nigeria lifted the ban on cryptocurrency transactions in December 2023.
Nigerian crypto startup Busha lists cNGN, a consortium-led Naira stablecoin, plans rollout in phases
Busha secured a provisional licence from the SEC in August 2024 and listed the compliant NGN (cNGN) on its platform. cNGN is Nigeria's first private consortium-backed stablecoin, pegged 1:1 to the Naira.
Nigeria’s SEC to fast-track crypto licencing in 2025
The SEC plans to accelerate the issuance of crypto licenses in 2025 as part of its regulatory efforts. Provisional licenses have been granted to Nigerian crypto startups Quidax and Busha under the ARIP.
Nigerian SEC Grants Approval-in-Principle to Two Crypto Exchanges
The SEC has granted 'Approval-in-Principle' to two crypto exchanges, Quidax and Busha. The SEC has admitted five more companies into its Regulatory Incubation (RI) Program.
