SEC: Nigeria’s Crypto Transactions Hit $50b in One Year

Gambling, Crypto’s Grip on Nigerians Is Hurting Capital Markets

Nigerians’ preference for plowing their money into gambling and cryptocurrencies rather than the capital market is denying the nation of funds that could be used to build key infrastructure, the head of the financial regulator said.

SEC: Nigeria’s crypto transactions hit $50b in one year

The Securities and Exchange Commission (SEC) says Nigeria’s cryptocurrency market has recorded $50 billion in transactions between July 2023

Nigeria Records $50 Billion Crypto Transactions in One Year, SEC Calls For Capital Market Reforms

Nigeria has emerged as one of Africa’s most active hubs for cryptocurrency activities, recording over $50 billion in crypto transactions between July 2023 and June 2024, according to data from the Securities and Exchange Commission (SEC). The staggering figure highlights the increasing adoption of digital assets in the country and the growing risk appetite of […] The post Nigeria Records $50 Billion Crypto Transactions in One Year, SEC Calls For…

Nigeria’s Crypto Transactions Hit $50 Billion as SEC Flags Weak Capital Market Participation

Nigeria recorded over $50 billion in cryptocurrency transactions. Less than 4% of adults invest in the regulated capital market. The SEC plans reforms to integrate digital assets through stronger regulation. Over $50 billion worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024, according to the Securities and Exchange Commission (SEC). The SEC Director-General, Dr. Emomotimi Agama, disclosed this during the…

Crypto Booms as Nigeria Records $50bn in Transactions — A Wake-Up Call for Capital Market Reform

Nigeria’s financial landscape is undergoing a quiet revolution.Between July 2023 and June 2024, over $50 billion worth of cryptocurrency transactions flowed through the country — making Africa’s largest economy one of the world’s most active digital-asset markets. Yet, beneath this staggering number lies a deeper paradox: Nigeria’s formal capital market participation remains below 4%, even …

Nigeria Records Over $50bn Crypto currency Transactions in One Year – SEC DG

By Daniel Adaji ‎ ‎The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has revealed that over $50 billion worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024. ‎ ‎Speaking while presenting a lead paper titled “Evaluating the Nigerian Capital Market Masterplan 2015-2025” at the annual conference of the Chartered Institute of Stockbrokers, Agama expressed concern over th…