BRIDGING THE REGULATORY GAP IN NIGERIA’S CRYPTO FINTECH LANDSCAPE: A LEGAL AND POLICY BLUEPRINT

The emergence of blockchain and cryptocurrency technologies has
catalysed a digital finance revolution in Nigeria. Ranked among the top ten countries globally for crypto adoption, Nigeria’s growing fintech ecosystem is fueled by youth-led demand for alternative financial solutions.[1] However, the sector operates in a near legal vacuum, largely due to the conflicting stances of the Country’s primary financial regulators, the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
This paper evaluates the regulatory tensions between these regulators, the legal uncertainty created thereby, and how Nigeria
can adopt best practices from international regulatory frameworks to harmonize its crypto-fintech landscape.