The Securities and Exchange Commission (SEC) has cleared seven new fintech and digital asset firms for admission into its Accelerated Regulatory Incubation Programme (ARIP).
The SEC also granted them Approval-in-Principle (AIP) to operate within the programme’s regulatory sandbox as part of efforts to promote innovation while protecting investors.
According to the Commission, the move reinforces its commitment to fostering responsible innovation that deepens Nigeria’s capital market without compromising market integrity.
The seven firms set for admission into the programme are Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd and Blockvault Custodian Ltd.
The Commission said the Approval-in-Principle permits the firms to operate within the defined scope of the programme, subject to conditions stipulated by the Commission.
It clarified that the approval is not a final operating licence but confirms that each entity has satisfied the admission requirements for ARIP.
The ARIP is a controlled regulatory environment established by the SEC to accelerate the onboarding of digital asset and other investment service providers, including Virtual Asset Service Providers (VASPs) and tokenised product platforms.
The programme enables the Commission to evaluate emerging business models and financial technologies under regulatory supervision before they are offered to the investing public.
The initiative is designed to ensure that adequate safeguards are in place to protect investors while preserving the integrity of Nigeria’s capital market.
It also urged members of the public to verify the regulatory status of individuals or organisations promoting investment products or services through its official channels before committing funds.
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