The Director-General of the Securities and Exchange Commission (SEC) in Nigeria, Emomotimi Agama, announced that the country's digital finance ecosystem has recorded around $96 billion in cryptocurrency and virtual asset transactions. This figure was disclosed during a Citizens and Stakeholders Engagement Session organized by the Federal Ministry of Finance in Abuja, emphasizing the substantial scale of the digital asset market in Nigeria. Agama's remarks come as the SEC highlights the importance of a regulatory framework to oversee this rapidly growing sector.

Agama stressed that the significant transaction flow in the cryptocurrency space necessitates stronger supervision by regulatory bodies to ensure the market operates safely and efficiently. He pointed out that the sheer volume of activity within virtual asset service providers reflects a trend that cannot be ignored. The SEC is keen on implementing measures that will enhance the management and regulation of digital assets, which have become a crucial part of Nigeria's financial landscape.

To address these challenges, the Nigerian government has reinforced its legal framework with the enactment of the Investment and Securities Act 2025. This legislation grants the SEC greater authority to oversee digital assets and emerging financial technologies. Such regulatory advancements are vital not only for fostering a secure environment for investors but also for integrating Nigeria’s burgeoning digital finance sector into the broader economy.