04/07/2026
As Nigeria Admits CNGN, Luno, and Others into Its Sandbox, VASPA Congratulates Entrants and Encourages SEC on Strengthening the ARIP Framework
We 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, Nigeria (SEC) under the leadership of 'Timi Agama FCMA CGMA FCIS MCSI FCMR PhD, the Director-General:
BitBarter Technologies Limited
Luno Fintech Nigeria Limited
GetEquity (Techstars ‘23) Limited
KoinKoin Global Network Limited
Wrapped CBDC Ltd (cNGN)
Trovotech Ltd
Blockvault Custodian Ltd
Securing 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.
VASPA highly commends the Management and Board of the Securities and Exchange Commission (SEC) Nigeria.
The core mandate of an Accelerated Regulatory Incubation Programme is to provide an efficient, fast-tracked bridge toward full licensing. To ensure the ARIP framework perfectly mirrors this objective and maintains unshakeable market confidence, VASPA outlines a few strategic, constructive areas for operational refinement, informed by healthy industry dialogue and recent public observations.
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