The Securities and Exchange Commission (SEC) has reiterated its ban on the Crypto Bridge Exchange (CBEX), operating under the corporate identity of ST Technologies International Ltd., in Nigeria. This is as the promoters of the platform are seeking for court bail from the custody of Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC)….
A UK-based company that allows users to buy, sell, and trade cryptocurrencies, Blockchain.com, plans to open a physical office in Nigeria in Q2 2025 and expand into Ghana, Kenya, and South Africa. The move, first reported by Bloomberg, marks a significant push into African markets amid growing regulatory clarity across the continent. The Nigeria expansion…
The Securities and Exchange Commission (SEC) has warned the public that it is illegal to use unregistered digital investment platforms, as concerns mount over the rising popularity of such platforms. This renewed stance by the Commission follows social media uproar surrounding the operations of CBEX, a digital asset platform currently under scrutiny for allegedly freezing…
Nigeria’s Securities and Exchange Commission (SEC) has reduced the time required for companies to secure approval to raise capital in the Nigerian capital market, cutting the process from over a year to just 14 days. This development aims to make the capital market more efficient and better positioned to support the growth and development of…
Nigeria’s capital market regulator, the Securities and Exchange Commission (SEC) said banks in the country raised N2.2 trillion from the capital market in 2024 to meet the Central Bank of Nigeria’s (CBN) new recapitalization requirements. It would be recalled that in November 2024, the SEC announced that banks had raised N1.7 trillion from the capital…
Wema Bank Plc has approved plans to raise additional N200 billion in combination of Rights & Special Placement to complete Central Bank of Nigeria (CBN) recapitalization requirement. The bank which pioneered Africas first fully digital bank, ALAT, said it will be completing its capital raise through a combination of a Rights issue and Special placement…
The Securities and Exchange Commission (SEC) has reaffirmed its commitment to eliminating Ponzi and pyramid schemes in Nigeria, aiming to create a conducive environment for legitimate investments to flourish this year. In a New Year address to the capital market community, SEC’s Director-General, Dr Emomotimi Agama, outlined the commission’s strategic focus for the year. He…
The Nigerian crypto landscape is fast evolving with the country becoming the second globally in adoption. This adoption comes with huge potential for economic growth. Co-founder and Chief Executive Officer of Quidax, Buchi Okoro, speaks on digital assets and crypto industry in Nigeria, the new regulatory frameworks of the Security and Exchange Commission (SEC) and…
Nigeria’s apex capital market regulator, the Securities and Exchange Commission (SEC) has warned the public against conducting any business with Marino FX Limited. According to the Commission, Marino FX Limited, which claims to be a SEC-licensed cryptocurrency exchange, is neither registered nor authorized to operate in the Nigerian capital market. In a notice by SEC…
