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February 13, 2026, 11:23:21 AM |
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As he Dey be now be say SEC don give Nigeria exchange (VASPs) still next year before them go get ₦2 Billion minimum capital. As now wea deadline still Dey front allot of our small local exchange already Dey breathe heavily.
Reason For This Discussion
For this 2026, wea we enter you for don see wetin them Dey call The Great Migration. Allot of small exchanges them no go fit raise that kind of money, and instead wea them go close down , some fit go soft rug, meaning that them go disable withdrawals for weeks under the guise of say na maintenance.
Advice To The Local Board
My advice to my people is to move to Cold Storage, if you get more than $500 for any of their exchange, whether it being say na Binance or Quidax, make you move am go Hardware Wallet, either it being (Ledger/Trezor). Make we make sure say we avoid New local apps especially the one’s promising high interest rates if fit be say them Dey look for way to meet their SEC capital requirements.
And very important part Dex na tge future make we start to learn how to use Uniswap or pancakeSwap with your own private keys.
Question wea i get Shea una think say ₦2 Billion rule go make Nigerian exchange space safer, or na way maje them kill our local startups ?
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