The Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AIP) to seven fintech and digital asset firms for admission into its Accelerated Regulatory Incubation Programme (ARIP), a move aimed at promoting innovation in Nigeria’s capital market while ensuring investor protection.
In a public notice issued on Thursday, the Commission said the approvals reaffirm its commitment to supporting responsible financial innovation without compromising market integrity.
The firms admitted 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.
According to the SEC, the Approval-in-Principle allows the companies to operate within the defined scope of the regulatory sandbox, subject to conditions set by the Commission.
The regulator explained that the approval does not amount to a final operating licence but confirms that the firms have met the admission requirements for the programme.
“An Approval-in-Principle confirms that an entity has satisfied the Commission’s admission requirements for the Programme. It is not a final licence and remains conditional on the entity’s continued compliance with all applicable regulatory, operational, and supervisory obligations,” the Commission stated.
The ARIP is a controlled regulatory environment established by the SEC to fast-track the onboarding of digital asset and other investment service providers, including Virtual Asset Service Providers (VASPs) and tokenised product platforms.
The Commission said the programme enables it to assess emerging business models and financial technologies under regulatory supervision before they are introduced to the investing public, helping to ensure appropriate safeguards for investors while maintaining the integrity of Nigeria’s capital market.
The SEC reiterated its commitment to fostering innovation that promotes efficiency, transparency, financial inclusion and sustainable growth in the capital market through initiatives such as ARIP.
It also advised the investing public to verify the regulatory status of individuals and organisations offering investment products or services through the Commission’s official channels before committing funds.
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