Nigeria Has Spoken. The Work Now Begins.
A Crucial Call for Participation in a Survey from the Virtual Asset Service Providers Association (VASPA)
Insights
Discover insights, opinions, and updates from across Africa’s virtual asset ecosystem. Through thought pieces, news highlights, and expert commentary, we explore the policies, innovations, and people shaping the continent’s digital finance landscape.
VASPA Appoints Founding Trustee Senator Ihenyen to Chair Newly Created Ecosystem Growth & Advocacy Committee
ABUJA, NIGERIA—July 6, 2026 —The Virtual Asset Service Providers Association (VASPA) formally announces the appointment of its Founding Trustee and Lead Partner at Infusion Lawyers, Senator Ihenyen, as the inaugural Chairman of the newly established Ecosystem Growth & Advocacy Committee. This appointment follows a strategic activation of VASPA's recently created committees and working groups as announced last month. The Mandate: Bridging Capital, Banking, and Web3The Ecosystem Growth & Advocacy Committee has been designed as a high-leverage "action room" to accelerate commercial maturity and market integration across the continent. The committee's primary mandate centers on the following: Institutional Frameworks: Directing high-level partnerships between native virtual asset entities and traditional banking, financial, and technology networks and platforms.Trust Architecture: Removing historical frictions to build deep operational trust between operators and traditional financial institutions, including promoting the growth of domestic platforms for global competitiveness.Capital Acceleration: Creating institutional corridors to attract global capital allocators into the African digital asset ecosystem. By positioning a leading innovation lawyer and founding architect at the helm of the committee, VASPA aims to fast-track structural alignment and unlock dormant B2B remittance and liquidity pathways. Perspective from the ChairCommenting on his appointment, Senator Ihenyen highlighted the strategic positioning of the new committee as a bridge for cross-functional...
VASPA Names Board of Trustees Member Buki Ogunsakin to Chair Critical Passporting Working Group
ABUJA, NIGERIA—July 5, 2026—The Virtual Asset Service Providers Association (VASPA) has formally appointed Buki Ogunsakin, a member of its Board of Trustees (BoT) and Principal at BBO Solicitors, as the inaugural Chair of the newly launched Passporting Working Group. The appointment represents another bold leadership deployment by the pan-African body to establish unified, cross-border operational structures and follows VASPA's recent announcement of the inauguration of new committees and working groups last month. The Mandate: Eradicating Regulatory Fragmentation Across AfricaThe Passporting Working Group represents one of VASPA’s core technical "engine rooms." Its singular mandate is to develop and champion a unified licensing framework where a single virtual asset service provider (VASP) license obtained in one African jurisdiction is recognized across other African jurisdictions. By leveraging bilateral and multilateral frameworks and deep mutual cooperation, the group aims to eliminate the highly restrictive, capital-draining process of requiring startups to secure redundant localized licenses for every individual country they expand into. This initiative directly aligns with the broader economic integration goals of the African Continental Free Trade Area (AfCFTA), transforming Africa into a friction-free zone for digital financial infrastructure. Perspective from the ChairBuki Ogunsakin, an internationally recognized emerging tech lawyer and digital asset policy expert, emphasized that passporting...
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...
Member Showcase: Yellow Card Bridges Africa and APAC Via The Stable Alliance
Abuja FCT, Nigeria — In a definitive nod to its growing authority and crucial coordinating role within the virtual asset sector, the Virtual Asset Service Providers Association (VASPA) has been officially enlisted by the Nigerian government to be a part of the Virtual Assets Working Group to help steer the country’s ongoing National Risk Assessment (NRA).
Introducing The Meridian: Navigating virtual asset policy across Africa shouldn’t feel like guesswork.
In a landscape as dynamic and fragmented as Africa's virtual asset sector and digital economy, making strategic business decisions requires more than just tracking headlines—it requires connecting the dots across regions, frameworks, and jurisdictions. That is why we are incredibly proud to announce the launch of The Meridian, VASPA’s premier monthly policy newsletter. Issue 1 is officially live this month! What is The Meridian?Every month, The Meridian serves as that policy compass you need for the African digital asset sector. We filter out the noise to deliver the following: Regional Pattern Mapping: Tracking how regulatory shifts in hubs like Nigeria, Ghana, Kenya, and South Africa influence and reshape continental cross-border compliance.Data-Driven Depth: Policy, regulatory, and operational analysis designed to help virtual asset service providers (VASPs), compliance officers, and institutional builders make proactive, de-risked strategic decisions.Sovereign Regulatory Forecasting: Moving past anecdote to look at how evolving central bank frameworks and security commission sandboxes impact your bottom line. An Exclusive, Member-Only BriefingTo maintain the integrity of our data and provide unmatched value to our ecosystem, The Meridian is exclusive to VASPA members. It will not be published publicly. Current VASPA Members: Issue 1 has dropped directly into your registered corporate inboxes. Check your mailboxes to read the...
# FAQs
Answers to Your Most Common Questions
VASPA is the Virtual Asset Service Providers Association, a platform uniting virtual asset stakeholders in Africa to promote trust, innovation, and collaboration in the industry.
Individuals, corporations, and institutions involved in or interested in virtual assets, blockchain, or related fields can join. Membership categories include Expert, Professional, Associate, Corporate, and Institutional.
Members gain access to industry insights, training, networking events, policy advocacy, and a personalized membership dashboard. Benefits vary by membership tier.
Membership fees range from $30/year for Associate members to $5,000/year for Patronship Corporate members. Visit www.vaspa.org for details.
We promote education, global best practices, and policy advocacy to drive safe and innovative blockchain adoption across industries.
Register on our membership subscription page at www.vaspa.org or contact us at info@vaspa.org or +234(0)701 972 4951.
