By Oluwakemi Kindness
The Securities and Exchange Commission (SEC) has admitted seven fintech and digital asset companies into its Accelerated Regulatory Incubation Programme (ARIP), granting them Approval-in-Principle to operate within its regulatory sandbox framework.
In a statement issued on Friday, the Commission says the move reflects its commitment to promoting financial innovation while ensuring investor protection and maintaining the integrity of Nigeria’s capital market.
The firms admitted into the programme include Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, GetEquity Limited, Koinkoin Global Network Limited, Wrapped CBDC Ltd, Trovotech Ltd, and Blockvault Custodian Ltd.
SEC explained that the Approval-in-Principle allows the companies to operate within a defined scope under close regulatory supervision, but stressed that it does not amount to a full operating licence.
“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 continued compliance with regulatory, operational and supervisory obligations,” the SEC stated.
The Commission said the ARIP framework is designed to provide a controlled environment where emerging financial technologies, including virtual asset service providers and tokenised investment platforms, can be tested before being fully introduced to the public.
It added that the programme allows regulators to assess new business models while ensuring adequate safeguards for investors and the stability of the capital market.
SEC reiterated its commitment to supporting innovation that improves efficiency, transparency, financial inclusion, and sustainable growth in Nigeria’s financial ecosystem.
The Commission also advised the public to always verify the regulatory status of investment promoters through its official channels before committing funds.
