Regulators granted the first full operating licences to two domestically incorporated digital asset exchanges, ending a period in which local platforms operated under provisional registrations.
The conditions require naira on- and off-ramps to settle through licensed banks, with customer funds held in segregated accounts and reported monthly.
Both firms must also maintain a local compliance officer and provide supervisors with read access to trade surveillance tooling.
Offshore platforms serving Nigerian users without a licence remain in a grey zone, though officials have said enforcement will follow once domestic capacity exists.
Local fintech founders described the framework as workable but costly, estimating that capital and audit requirements put it out of reach for early-stage startups.
