Nigerian SEC raises capital threshold for digital asset platforms to 2 billion Naira.

PANews reported on January 18th that, according to TechCabal, the Nigerian Securities and Exchange Commission (SEC) has issued new regulations. Under the new framework, digital asset exchanges and digital asset custody institutions operating trading venues and safeguarding users' digital assets must maintain a minimum capital requirement of 200 million Naira (approximately US$1.4 million), up from the previous 500 million Naira. Among other categories, the minimum capital requirement for Digital Asset Issuance Platforms (DAOPs) and RWA tokenization platforms is 1 billion Naira, while the requirements for digital asset intermediaries and related service institutions range from 300 million to 500 million Naira. The new regulations require relevant institutions to meet the requirements by June 30, 2027, or they may face suspension or revocation of their licenses.