Nigerians prefer crypto investments and gambling to the capital market — SEC DG

Emomotimi Agama said the country is missing out on substantial investments because Nigerians avoid investing in the Nigerian capital market.
Nigeria's journey from crypto hostility to formal regulation — from the CBN banking ban and SEC avoidance through the Finance Bill crypto taxation push, regulatory sandbox, provisional licenses for Busha and Quidax, the ISA 2025 signing and crypto tax framework.

Emomotimi Agama said the country is missing out on substantial investments because Nigerians avoid investing in the Nigerian capital market.

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According the IMF, these countries have lost significant sums of money as a result of being grey listed by the FATF

At a Mariblock webinar last week, tax and digital asset experts said the new laws mark a turning point for the sector’s legitimacy.

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Individual crypto transactions will now be subjected to a maximum of 25% personal income tax on profit made.

Nigerian banks continue to flag accounts interacting with cryptocurrencies; arrests haven’t stopped, and confusion persists over what the law actually changed.

Two years ago, the country launched a blockchain policy, which it has not implemented yet. Now, it is ditching the document in favor of a new policy.

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