Nigerian SEC official: New rules covering crypto exchanges and digital asset custodians will be introduced in the next few days

Nigeria vows to ban peer-to-peer cryptocurrency transactions in Naira and take new measures to control an industry that has been accused by West African countries of damaging local currency units. Emomotimi Agama, the Director-General of the Nigerian Securities and Exchange Commission (SEC), said at a meeting with fintech professionals on Monday that new rules covering cryptocurrency exchanges, digital asset custodians, and other areas of the industry will be introduced in the coming days. The task is to remove Naira from the P2P field to avoid the manipulation currently taking place.