The Director General of the Nigerian Securities and Exchange Commission (SEC), Emomotimi Agama, has revealed that President Bola Ahmed Tinubu endorsed the cryptocurrency industry long before United States President-elect, Donald Trump, did.
Agama made this known on the sidelines of the African Financial Industry Summit in Casablanca, Morocco, where he spoke about Nigeria’s outlook on cryptocurrency and the integration of Africa’s financial systems.
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He explained that President Tinubu’s decision to appoint him as the head of the SEC reflects the president’s longstanding recognition of the cryptocurrency sector.
“I guess you will first give credit to the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR, even for the appointment he has made in the Nigerian SEC. I have been an enthusiast of cryptocurrency, and the president deemed it fit to make me the DG of the SEC, and that is phenomenal. So even before President Trump started thinking about that, our own dear president has already thought about it,” Agama said.
Highlighting the current administration’s efforts in the sector, Agama noted that Nigeria has taken necessary steps to position the country as a leader in cryptocurrency regulation. “What we have done is that we have been able to do what we needed to do; that is why we created what is known as the Regulatory Incubation and the accelerated regulatory incubation programme,” he explained.
The SEC DG added that the agency is working on bringing existing cryptocurrency exchanges under a regulated framework to understand their operations and associated risks.
According to Agama, the commission, in collaboration with relevant authorities, is working to democratise cryptocurrency processes for Nigerian youth and the broader African market.
“What brought me here to Casablanca is the same thing that brought everybody here. The integration of the African capital market and African financial systems to become one straight line, being able to deliver service to every African from whatever part that African comes from,” Agama said.
He reiterated the SEC’s commitment to fostering a robust regulatory environment for cryptocurrency, ensuring both innovation and risk management in Nigeria’s financial ecosystem.
