The Securities and Exchange Commission of Nigeria is set to launch the Crypto Smart, Nigeria Strong initiative to collaborate with developers in designing a regulatory framework for stablecoins.

The initiative is part of the SEC’s broader efforts to attract reputable players, promote investor education, and enhance digital literacy in the digital asset space.

This was disclosed by the Director-General of SEC, Emomotimi Agama, in Lagos on Monday.

“SEC is launching a Crypto Smart, Nigeria Strong initiative, targeting young investors across schools, universities, and social media, teaching,” the DG said.

The Crypto Smart, Nigeria Strong initiative will focus on educating young investors—through schools, universities, and social media—on core blockchain concepts, how to identify scams, and the importance of long-term investing.

“It aims to cover basic blockchain principles, how to spot scams, and the value of long-term investing,” he said.

By doing so, the SEC aims to promote responsible innovation and protect investors in the digital assets ecosystem.

“The future of Nigeria’s digital assets ecosystem depends on three pillars: Collaboration, Innovation, and Trust. The road we see ahead is regulatory evolution through an expanded licensing regime. We are enhancing our licensing architecture to make it more efficient, more transparent and more risk-based,” Agama said.

The SEC is strengthening its licensing framework to be more efficient, transparent, and risk-based.

As part of this effort, it plans to introduce tiered Virtual Asset Service Provider licenses and implement automated compliance monitoring, aiming to attract credible operators and deter bad actors.

“Our goal is to attract credible operators while shutting out bad actors by streamlining application timelines, introducing tiered VASP licenses, and incorporating automated compliance monitoring,” he added.

The commission is developing a framework for Naira-pegged stablecoins that will be fully backed by verifiable reserves and subject to regular audits by independent custodians.

These stablecoins will support cross-border trade, payments, and programmable finance, enabling digital asset innovation to drive real-world economic activity beyond mere speculation.