Nigeria SEC Plans Enforcement Actions Against Unregulated Crypto Firms

According to BlockBeats, the Nigerian Securities and Exchange Commission (SEC) is preparing to take enforcement actions against unregulated cryptocurrency companies. This move aims to send a clear message to firms operating without proper authorization that they will not be permitted to target Nigerian citizens, stated Emomotimi Agama, the Director-General of the SEC, in a statement released on Sunday. Agama emphasized that the SEC is committed to ensuring that companies wishing to operate in the Nigerian market must comply with regulatory requirements. He stated, 'We will certainly take enforcement actions against those who intend to operate in this market without the intention of being regulated.' This initiative underscores the SEC's dedication to maintaining a regulated and secure financial environment for its citizens.