The Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AiP) to seven fintech and digital asset companies under its Accelerated Regulatory Incubation Programme (ARIP), allowing them to operate within the Commission’s regulatory sandbox.
The initiative is aimed at fostering innovation in Nigeria’s capital market while ensuring investor protection through effective regulatory oversight.
The seven companies 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 is not a full operating licence but authorises the firms to operate within the scope of the incubation programme, subject to strict regulatory, operational, and supervisory conditions.
The Commission explained that ARIP provides a controlled environment where fintech companies and digital investment platforms can test innovative products and business models under regulatory supervision before entering the broader market.
The programme also covers digital asset operators, including Virtual Asset Service Providers (VASPs) and platforms offering tokenised investment products, enabling the SEC to evaluate emerging technologies, identify potential risks, and strengthen market integrity.
Reaffirming its commitment to responsible innovation, the Commission said it will continue to support initiatives that enhance efficiency, transparency, financial inclusion, and sustainable growth within Nigeria’s investment ecosystem.
The SEC also urged Nigerians to verify the regulatory status of investment promoters through its official channels before investing, warning that doing so remains one of the best ways to avoid fraudulent investment schemes.
