Nigeria's SEC Admits Three More Crypto Firms into Regulatory Incubation Programme
The Securities and Exchange Commission (SEC) of Nigeria has admitted three more virtual asset service providers into its Accelerated Regulatory Incubation Programme (ARIP), bringing the total number to 14. The latest firms to join are Pisi Payments Solution Limited, BC Access Nigeria Limited, which operates as Blockchain.com, and Yellow Card Financial Limited.
The SEC said these companies have been granted Approval-in-Principle, allowing them to operate within a defined scope subject to conditions imposed by the Commission. This approval is not a final or unrestricted operating license but rather confirmation that they meet the requirements for ARIP and will be subject to ongoing regulatory oversight.
As part of its efforts to establish a more formal regulatory structure for Nigeria's digital asset market, the SEC aims to balance technological innovation with investor protection and market integrity. The admission of these companies into ARIP demonstrates the Commission's commitment to encouraging responsible innovation while ensuring emerging businesses operate within an appropriate framework.