Wire · regulatory
Local's access to global crypto platforms could end under Nigeria's proposed capital floor
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Fusion42 · 23 August 2026 · Fusion42 review
Nigeria's SEC proposes a ₦2 billion capital requirement for crypto exchanges and custodians serving local residents, and a 120% reserve backing for foreign-currency stablecoins, potentially ending local access to global crypto platforms without compliance.
This Wire brief sits within Fusion42's coverage of Fintech.
◆ ◆ The Wire takeaway
Your Nigerian crypto platform must meet a ₦2 billion capital floor and hold 80% in cold storage to continue operating locally. Non-compliant foreign platforms risk losing access to Nigerian users, forcing you to reassess market entry or compliance strategy now.
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1 source · 23 Aug 2026
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