TechFlow news, May 1 — According to 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 time Nigeria's regulators have formally recognized Bitcoin's legal status.
The new law grants 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 imposes strict penalties on 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 among the world's top countries in terms of Bitcoin adoption and P2P trading volume, it previously lacked a clear regulatory framework for digital assets. Bernard Parah, CEO of Bitnob, said: "Having clearer regulation is a good thing. Now that this step is complete, it will be easier to further revise specific provisions as the industry matures."
