SEC, Quidax Educate Nigerian Finance Professionals on Digital Assets

The Securities and Exchange Commission (SEC) Nigeria, in partnership with leading digital assets exchange Quidax, hosted a two-day educational series aimed at equipping Nigerian finance professionals with the knowledge and tools to navigate the evolving digital assets ecosystem. The event, attended by representatives from commercial banks, asset management firms, pension fund administrators, and securities traders, emphasized the critical role traditional financial institutions play in the growth of digital assets. Abdulrasheed Dan Abu, Head of FinTech and Innovation at the SEC, highlighted that the initiative aligns with the commission's mandate to regulate and actively develop the capital market. This educational effort follows significant regulatory milestones, including the Investments and Securities Act (ISA) 2025 signed by President Bola Tinubu, which classifies cryptocurrencies and other virtual assets as securities under SEC oversight, and the June 2024 issuance of rules for Virtual Asset Service Providers. The program aims to bridge the knowledge gap within banks and financial institutions to foster a more supportive environment for digital asset adoption, addressing Nigeria's lag in institutional buy-in despite strong grassroots crypto engagement. Overall, the collaboration between SEC and Quidax seeks to drive institutional adoption and sustainable growth of digital assets in Nigeria’s financial sector.