The Global Investment Advisory (GIA) Community, in partnership with the Securities and Exchange Commission (SEC), has unveiled a comprehensive Digital Asset Markets Strategy aimed at expanding Nigeria’s cryptocurrency ecosystem. The strategy was introduced during a Digital Asset Markets Masterclass held in Lagos, designed to engage Nigeria’s younger generation and its diaspora in cryptocurrency investments. It emphasizes the feasibility of purchasing cryptocurrency in naira and growing digital asset portfolios locally.
Dr. Nicky Okoye, a global investment advisor, presented the framework highlighting Nigeria’s new Investment and Securities Act (ISA) 2025, which officially integrates the digital asset market into the Nigerian capital market. This act legalizes cryptocurrencies and paves the way for the issuance and trading of tokens within a regulated ecosystem, with SEC serving as the overseeing authority. GIA’s role will involve fostering a network of capital asset managers and aggregators dedicated to growing digital asset markets in the country.
The strategy also includes initiatives to train “aggregators,” young Nigerians who will educate and convert potential investors. These efforts aim to attract investments from the diaspora, with a target of $25,000 per investor. Additionally, members of GIA will participate in an international roadshow to explore cryptocurrency and digital asset exchanges in cities like New York, Singapore, and Geneva, aiming to strengthen the Nigerian naira and position the country as a digital economy leader.
Lagos State Governor Babajide Sanwo-Olu, represented by Finance Commissioner Abayomi Oluyomi, expressed that this strategy aligns with Nigeria’s goal to reach a $22 billion digital economy by 2029. He emphasized the importance of clear legislation and policies to guide the industry, ensuring that the digital asset market remains secure, competitive, and innovative. Furthermore, Senator Osita Izunaso, Chairman of the Senate Capital Market Committee, committed to continued legislative support to further develop and deepen Nigeria’s digital asset and capital markets.
Source: Punch