Digital Assets Regulation in Nigeria: Recent Regulatory Developments
Introduction The digital assets regulatory landscape in Nigeria has been marked by significant shifts and developments over the past years. The Central Bank of Nigeria (CBN) imposed a ban on digital assets transactions in 2021[1] prohibiting financial institutions from providing services to digital assets exchanges or facilitating digital asset or cryptocurrency transactions. However, in December […]
Highlights of the Revised Regulatory and Supervisory Guidelines for Bureau de Change Operations in Nigeria
Background On the 23rd of February 2024, the Central Bank of Nigeria (CBN) released an exposure draft of the Revised Regulatory and Supervisory Guidelines for Bureau de Change (BDC) Operations in Nigeria (the Draft Guidelines), inviting the public to provide comments on the Draft Guidelines. The Draft Guidelines aim to strengthen the regulatory framework that […]