According to ChainCatcher news and reported by Forbes, Nigerian President Tinubu signed the Investment And Securities Act 2025 last month, officially classifying Bitcoin and other digital assets as securities. This marks the first official acknowledgment of the legal status of Bitcoin by Nigerian regulators.
The new bill will grant the Nigerian Securities and Exchange Commission (SEC) regulatory authority over virtual asset service providers (VASPs), digital asset operators (DAOPs), and digital asset exchanges (DAEs). The bill also takes a strong stance against Ponzi schemes, with violators facing fines of at least 20 million naira (approximately $12,430) and up to 10 years in prison.
Although Nigeria has long been one of the countries with the highest Bitcoin adoption rates and P2P transaction volumes globally, the country previously lacked a clear regulatory framework for digital assets. Bitnob CEO Bernard Parah stated, "It’s a good thing to have clearer regulations. Now that this step is completed, further revisions to specific terms will become easier as the industry matures."
