According to TechFlow, Nigerian President Tinubu has signed the Investment and Securities Act of 2025, officially classifying Bitcoin and other digital assets as securities. This is the first time that Nigeria has officially recognized the legal status of Bitcoin.
The new bill gives the Nigerian Securities and Exchange Commission the power to regulate virtual asset service providers, digital asset operators and digital asset exchanges. The bill severely cracks down on Ponzi schemes, and violators will face a fine of at least 20 million naira and up to 10 years in prison.
Despite Nigeria’s high rate of Bitcoin adoption, there was previously a lack of a clear regulatory framework. Bitnob CEO Bernard Parah said that clear regulation would help the industry mature and further revise terms.
