Nigeria is on the verge of being removed from the FATF grey list due to its enactment of the Investment and Securities Act (ISA) 2025.
This landmark legislation, signed by President Bola Ahmed Tinubu, classifies virtual assets and investment contracts as securities, aiming to combat fraud and foster innovation in the digital asset space.
This move, which positions Nigeria as a digital finance leader in Africa, addresses the anti-money laundering and counter-terrorism financing concerns that led to the country’s FATF grey listing in 2023.
The ISA 2025 repeals the 2007 act and is expected to enhance transparency, attract investment, and give the SEC greater regulatory power over the crypto sector.
This development follows a period of regulatory uncertainty, including a 2021 CBN ban on crypto transactions that was later partially reversed due to public demand and global trends.
The new law is seen as a signal to the international community that Nigeria is ready for business and committed to protecting legitimate crypto operations, potentially attracting global players to its already large crypto market.
Image Credit: Pixabay
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