The Nigerian Securities and Exchange Commission (SEC), under the leadership of Dr. Emomotimi Agama, has proposed a new law aimed at regulating the activities of crypto influencers. The law, set to take effect on June 30, 2025, requires all crypto platforms or Virtual Assets Service Providers (VASPs) to obtain a license from the SEC before Read More…
Tag: regulation
Supreme Court victory: Lagos reclaims control over lotteries and gaming
In a landmark ruling, the Supreme Court of Nigeria has reaffirmed the constitutional authority of state governments to regulate lotteries and gaming activities within their jurisdictions. This decision nullifies the National Lottery Act, marking a significant victory for Lagos State and a step towards true federalism. The case, identified as Suit No. SC/1/2008, was brought before Read More…
Nigeria eases crypto ban but imposes new regulations on virtual assets
The Central Bank of Nigeria (CBN) has reversed its earlier decision to ban banks and financial institutions from transacting in cryptocurrencies, acknowledging the global trend towards regulating digital assets. The bank issued a new circular on December 22, outlining the rules and requirements for firms dealing in crypto assets. The CBN imposed a ban on Read More…
E-hailing drivers want protection, ask for industry regulation
The Professional E-Hailing Drivers and Private-Owners Association of Nigeria (PEDPAN) has demanded that the business be properly regulated in order to guarantee worker protection, promote employee welfare, and draw in the required investors. The group made the request in a statement released on Wednesday in Lagos and signed by its National Publicity Secretary, Mr. Jossy Read More…
Lai Mohammed still insists on regulation of social media, says it’s a global problem
Unrestrained use of social media and other digital platforms, according to Alhaji Lai Mohammed, Minister of Information and Culture, is causing significant issues on a worldwide scale. At a session to welcome guests to the Global Media and Information Literacy Week happening in Abuja, the minister reaffirmed this position. 193 UNESCO member nations are participating Read More…