Securities and Exchange Commission (SEC) is working with developers to establish a regulatory framework for stablecoins, according to Dr. Emomotimi Agama, director-general, SEC.
Agama made this announcement during his keynote speech at the 2025 Decentralized Finance (DeFi) Conference.
Agama said the SEC's commitment is to foster a responsible decentralized finance environment.
"The commission believes responsible DeFi can thrive in a regulated environment," he said, highlighting the SEC's efforts to enhance investor education through its "Crypto Smart, Nigeria Strong" initiative.
The program aims to educate young investors across schools, universities, and social media on blockchain basics, scam detection, and long-term investing benefits.
The SEC is also focusing on regulatory evolution, with plans to streamline its licensing regime.
"We are enhancing our licensing architecture to make it more efficient, more transparent, and more risk-based," Agama noted.
The commission is exploring a framework for naira-pegged stablecoins, backed by verifiable reserves and audited by independent custodians, to facilitate cross-border trade and programmable finance.
It is also reviewing pathways for digital asset Exchange Traded Funds (ETFs), custodial wallets for pension funds, and tokenized securities for institutional investors.
