SEC Approves more crypto currency firms to operate in this country.

[Olotu20]

Nigeria is one place that when it comes to crypto currency leads the way, not only in Africa but is actually one of the top leading countries with the highest crypto users. And this has not gone unnoticed. Because more crypto currency operating firms are beginning to find their way into the country.

The security and exchange commission has temporarily given the go ahead to seven New crypto currency firms to operate in the Nigerian market. Even though this approval is on a temporary basis it only goes to show how Nigeria growing influence on the crypto space is rising. What do we say about this news my naija people. To me this is a welcome development because we have been talking about government as one , of the hindrances when it comes to crypto currency growth in the country.

https://nairametrics.com/2026/07/03/breaking-sec-grants-approval-in-principle-to-7-crypto-firms-under-regulatory-sandbox/

[Ummeettaa]

Nigeria is one place that when it comes to crypto currency leads the way, not only in Africa but is actually one of the top leading countries with the highest crypto users. And this has not gone unnoticed. Because more crypto currency operating firms are beginning to find their way into the country.

The security and exchange commission has temporarily given the go ahead to seven New crypto currency firms to operate in the Nigerian market. Even though this approval is on a temporary basis it only goes to show how Nigeria growing influence on the crypto space is rising. What do we say about this news my naija people.

https://nairametrics.com/2026/07/03/breaking-sec-grants-approval-in-principle-to-7-crypto-firms-under-regulatory-sandbox/

This is a very nice decision made by the Security and Exchange Commission (SEC), allowing crypto currency firms to operate in Naija, at least this will make crypto currency more popular in the eyes of Naija people.

Nigeria has always been the fan and supporter of Crypto Currency, but due to some reasons it's less known by our people because most people has no idea how it's operate of works.

This approval will make many that have been looking for the opportunity to invest in Crypto currency believe more in it, because some people will never invest in what they will have no one to hold when it's get bad, as our country people usually say "Seen is believe", operations of such firms will make crypto currency more real in the eyes of the people than online.

[Karl_3000]

These are the lists of crypto firms approved by SEC:
The seven companies are Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd, and Blockvault Custodian Ltd.

I only know of Lino among them which I do not think I can use again, I do not know the rest.

It is good.

[Agbamoni]

Is the approval free? Obviously, no is the answer. SEC has approved 7 firms, of which Luno is one of them. In the background, the SEC has profited by collecting application fees, licensing fees/registration fees, likely an annual renewal fee, and other regulatory fees under the law. I know my country. Nothing comes for nothing. The amount these firms have paid to be admitted into the AIP programme wont be a small amount of money. However, the firms are happy with the news because it will be good for the business, not minding what it has cost them.

[Nathrixxx]

Always detest anything coming from government because it will do us more harm than the benefit we stand to gain from them, if we can have a platform that is more reliable and globally recognized as binance leaving Nigeria because of government regulation and threats, then I don't think it's a good idea to badge into other platforms they are just endorsing for us to use, because we are going to be exorbitantly charged of some irrelevant fees if the eventually come in place, it's an agreement they would have signed with the government before coming.

[The Founding Titan]

The SEC should ensure to put in better regulations on these firms that they've approved to operate here in Nigeria, they shouldn't overtax them because one thing that is wrong with this country is that whenever something we can benefit from comes out way we end up trying to milk it for all it's worth, no company will be willing to stay here if they are losing more than they are gaining and crypto firms are not exempted, a good balance will work in everyone's favour.

[IjawMan]

Nigeria continue to lead in cryptocurrency industry in Africa and with time the adaptation will grow wider beyond where it is. The SEC should continue to strengthen their regulatory wings in the industry to weed out scammers in digital asset space in order to create trust in the space for investors confidence to invest with no fears.

These are the lists of crypto firms approved by SEC:
The seven companies are Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd, and Blockvault Custodian Ltd.

I only know of Lino among them which I do not think I can use again, I do not know the rest.

It is good.

With a click on the link provided any user can see these enlisted companies approved by the Nigeria SEC, except you saw a need to write them out for lazy readers who can't do the homework themselves. Lol

I have not used any of this crypto firms service and for some on the list am only knowing them for the first time. About Luno do you mind sharing your reasons for not using them again, is it dew to standard of their service?

[Karl_3000]

Nigeria continue to lead in cryptocurrency industry in Africa and with time the adaptation will grow wider beyond where it is. The SEC should continue to strengthen their regulatory wings in the industry to weed out scammers in digital asset space in order to create trust in the space for investors confidence to invest with no fears.

If you like do not avoid scammers, that will be the time that you will make that the SEC is only regulating to make money than eliminating scam, scam will always exist, it is people that should be very careful and avoid scam.

Nigeria continue to lead in
With a click on the link provided any user can see these enlisted companies approved by the Nigeria SEC, except you saw a need to write them out for lazy readers who can't do the homework themselves. Lol

They are just 7 services, it can be added to the topic.

Nigeria continue to lead in
I have not used any of this crypto firms service and for some on the list am only knowing them for the first time. About Luno do you mind sharing your reasons for not using them again, is it dew to standard of their service?

I had no problem when using the exchange but I moved to the ones that provided better users experience like Binance and Bybit. If you use Luno and you have used exchanges like Binance and Bybit, you will understand the reason.

[Dex_master25]

Nigeria is one place that when it comes to crypto currency leads the way, not only in Africa but is actually one of the top leading countries with the highest crypto users. And this has not gone unnoticed. Because more crypto currency operating firms are beginning to find their way into the country.

The security and exchange commission has temporarily given the go ahead to seven New crypto currency firms to operate in the Nigerian market. Even though this approval is on a temporary basis it only goes to show how Nigeria growing influence on the crypto space is rising. What do we say about this news my naija people. To me this is a welcome development because we have been talking about government as one , of the hindrances when it comes to crypto currency growth in the country.

https://nairametrics.com/2026/07/03/breaking-sec-grants-approval-in-principle-to-7-crypto-firms-under-regulatory-sandbox/

This is indeed a welcome development that would benefit the crypto currency community in this country, but it is just a testing phase that may mature into more serious affairs later on. This shows how the government is finally coming around from just observing and taxing to creating and allowing it by allowing a structured path for crypto currency development in this country. Now it can be said the government is regulating its affairs instead of ignoring it and the seven companies granted these rights for now are;

* Luno Fintech Nigeria Limited
* Bitbarter Technologies Limited
* GetEquity Limited
* Koinkoin Global Network Limited
* Wrapped CBDC Ltd
* Travelers Ltd
* Blockvault Custodian Ltd

This would help tip the scales of the economy and the current inflation crisis we find ourselves from mere survival mode to a full scale growth mode and am sure this should user in more competitions and these companies are really going to be tested to know that which Nigerians can fully trust against the tides of time.

[Emjay24]

About Luno do you mind sharing your reasons for not using them again, is it dew to standard of their service?

I had some small fractions of ETH in luno wallet back then in 2021 before the government crackdown on banks having direct involvement in crypto activities. Until this year, I've not been able to transfer out my funds. They've always been asking me to deposit more and get my ETH balance tho 0.1ETH before I can withdraw and same with few of my friends, so they've behaved as scam or have been non-operational for some years. I was happy they were given temporary license, maybe we can get our funds back. I'll check again with them when I've the time.

[Dr.Bitcoin_Strange]

Well, this is a good development, instead of trying to ban crypto or frustrate its users, it's best to strengthen the system and even make it safer for the people because it's going to benefit both us the users and the government too, we are already part of the largest country that adopted crypto currency and so if the government strengthens that part, they will have more investors but my concern is that, let the authorities not be only concerned with approving the operations of these crypto companies, they should also strengthen the customer's protection laws and agreement, so that these companies will not just come and take advantage of people and then disappear with people's money. I believe you all can still remember how many Nigerians lost their money during the MBA forex scam, what did the government do to help people recover their money? Absolutely nothing, meanwhile this was a company that they registered and allowed to operate in different states of the country.

[Donneski]

This is surely a welcome development. It shows that the government is gradually recognizing crypto and for those of us that are still sceptical of their acceptance of crypto, this is another reason to believe that crypto is now legally backed in Nigeria.

The number of crypto users in Nigeria is larger than we can imagine so having more licenced companies offers us more choices and hopefully better services.

That said, I advise that users should also do their own research about these companies before using them, SEC approval doesn't remove every risk that is associated with using any crypto platform.

[Promocodeudo]

The SEC should ensure to put in better regulations on these firms that they've approved to operate here in Nigeria, they shouldn't overtax them because one thing that is wrong with this country is that whenever something we can benefit from comes out way we end up trying to milk it for all it's worth, no company will be willing to stay here if they are losing more than they are gaining and crypto firms are not exempted, a good balance will work in everyone's favour.

Did you just said don't over tax them? And how do you think that the won't be over taxed, do you think that they were licensed for nothing, the government have their own plans and in due time we all will understand the reason for what they did and their direction, this might look like a welcome development as different people continue to commend Sec for this approval but I'm sure that there's more to this, if you ask me, I will say I don't trust our government, we are happy for the approval since we know what's involved, we are also anxious to see how far this action of Sec can go in reshaping cryptocurrency in Nigeria.

[Cryptomultiplier]

Nigeria continue to lead in cryptocurrency industry in Africa and with time the adaptation will grow wider beyond where it is. The SEC should continue to strengthen their regulatory wings in the industry to weed out scammers in digital asset space in order to create trust in the space for investors confidence to invest with no fears.

These are the lists of crypto firms approved by SEC:
The seven companies are Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd, and Blockvault Custodian Ltd.

I only know of Lino among them which I do not think I can use again, I do not know the rest.

It is good.

With a click on the link provided any user can see these enlisted companies approved by the Nigeria SEC, except you saw a need to write them out for lazy readers who can't do the homework themselves. Lol

I have not used any of this crypto firms service and for some on the list am only knowing them for the first time. About Luno do you mind sharing your reasons for not using them again, is it dew to standard of their service?

Luno actually shocked me as they appeared on the list, because they were hit hard during the first time CBN restricted banks from facilitating crypto transactions in 2021 and weren't a good choice for trading everyday local trading volumes.

A platform like luno at that time was also a custodial exchange, but since it became risky to trust exchanges to hold your coins, many users today prefer using hardware wallets to have self custody over their holdings.

Another reason is that luno didn't have advanced trading tools for TA, leverage, or had good liquidity and charting tools, they were less preferred until now where they rank among those companies approved by SEC to operate as a crypto currencies company.
This shows growth and value and am sure they would have a return of customers who have initially left because of this new development.

[The Founding Titan]

The SEC should ensure to put in better regulations on these firms that they've approved to operate here in Nigeria, they shouldn't overtax them because one thing that is wrong with this country is that whenever something we can benefit from comes out way we end up trying to milk it for all it's worth, no company will be willing to stay here if they are losing more than they are gaining and crypto firms are not exempted, a good balance will work in everyone's favour.

Did you just said don't over tax them? And how do you think that the won't be over taxed, do you think that they were licensed for nothing, the government have their own plans and in due time we all will understand the reason for what they did and their direction, this might look like a welcome development as different people continue to commend Sec for this approval but I'm sure that there's more to this, if you ask me, I will say I don't trust our government, we are happy for the approval since we know what's involved, we are also anxious to see how far this action of Sec can go in reshaping cryptocurrency in Nigeria.

Overtaxing them won't do the country any good in the long run, they might think they are benefiting now but when future companies decide not to come to the country then the reality will hit, there is no reason to tax someone beyond what's expected, our country needs to start doing things thst will actually push us forward, generating revenue is good but if it can't be sustained long term it will still not do us any good, we've had enough of companies leaving leaving the country over things like this.

[Mpamaegbu]

Overtaxing them won't do the country any good in the long run, they might think they are benefiting now but...

Just like wetin happened with GSM in Nigeria. The type of money wey MTN, Econet dem pay to d Obasanjo led administration to secure demselves nor be here and those companies com take am out on Nigerians. Na im make tariffs den nor be wetin persin fit talk sef as dem deal wit us wetin nor good.

About d OP, I nor know whether na only me abi e get others wey join me dey reason dis way. I nor just trust awa govment and anything wey dem dey talk concerning cryptos. We don see 39 for dem hand on dis issue. I go continue to dey guard myself wit anything wey I dey do with P2P and banks. Make una nor trust dem too bc dis govment fit change mouth tomorrow and hunt down those wey reveal sey dem dey into cryptos tomorrow.