Nigeria’s crypto landscape is governed by clear guidelines: while the CBN prohibits banks from offering crypto services, the SEC now issues “Approval‑in‑Principle” licences under its ARIP framework. Only platforms registered with the SEC can legally operate and protect your assets. To trade safely, look for exchanges with full SEC registration or Approval‑in‑Principle—this ensures minimum capital requirements, fidelity bonds, and rigorous KYC processes are in place. Leading Nigerian exchanges like Busha and Quidax were the first to secure these approvals, setting the compliance benchmark. Always verify your chosen platform’s CAC incorporation and SEC status before transacting. Be wary of unregistered operators; criminal cases and rapid de‑listings have plagued non‑compliant services. By aligning with licensed, transparent exchanges such as Sancus Africa (soon Sancus Africa), you can confidently embrace crypto’s potential within Nigeria’s evolving regulatory framework.
