Nigerias SEC Requires VASPs to Set Up Local Offices to Qualify for Framework Program Eligibility

Nigeria’s SEC Requires VASPs to Establish Local Offices for Participation in Regulatory Program
Nigeria’s Securities and Exchange Commission (SEC) issued a mandate on June 21 for all Virtual Asset Service Providers (VASPs), which includes cryptocurrency companies, to set up offices in Nigeria in order to meet the eligibility criteria for the Accelerated Regulatory Incubation Programme (ARIP).
This move aims to streamline the registration and onboarding process for VASPs in preparation for the upcoming Digital Assets Rules, with a focus on compliance and safeguarding investors. It also requires applicants to