As Nigeria Admits CNGN, Luno, and Others into Its Sandbox, VASPA Congratulates Entrants and Encourages SEC on Strengthening the ARIP Framework
ABUJA, NIGERIA—July 4, 2026—The Virtual Asset Service Providers Association (VASPA) issues this official statement to warmly celebrate and recognize the latest advancements in Nigeria's evolving capital market infrastructure. 1. Congratulating the Admitted CohortWe extend our warmest institutional congratulations to the seven newly admitted entities in the Accelerated Regulatory Incubation Programme (ARIP) of Nigeria’s Securities and Exchange Commission (SEC) under the leadership of Dr. Emomotimi Agama, the Director-General: Bitbarter Technologies LimitedLuno Fintech Nigeria LimitedGetEquity LimitedKoinkoin Global Network LimitedWrapped CBDC LtdTrovotech LtdBlockvault Custodian LtdSecuring an Approval-in-Principle (AIP) requires an extraordinary amount of operational grit, rigorous legal structuring, and a substantial commitment to compliance infrastructure. VASPA specifically recognizes the immense efforts of these leadership teams. Their entry into the sandbox sets a high benchmark for the ecosystem and validates the viability of compliant Web3 models in Nigeria. 2. Acknowledging the SEC’s Progressive Regulatory LeadershipVASPA highly commends the Management and Board of the Securities and Exchange Commission (SEC) Nigeria for their continued commitment to steering the nation’s digital economy by formalizing the adoption of digital asset innovations in the capital market. By onboarding innovation into a controlled sandbox environment rather than relying on restrictive enforcement, the Commission continues to solidify Nigeria’s standing as a forward-thinking financial hub. The implementation...