Collaboration between SEC Nigeria and Kenya School of Government to potentially launch cryptocurrency training program in partnership with Nigerian Exchange, Busha

The Securities and Exchange Commission (SEC) of Nigeria has announced a new course aimed at educating policymakers, regulators, financial sector executives, legal and compliance professionals, innovators, and ecosystem leaders about digital assets and their role in creating financial access.

The program, named "Digital Assets Innovation, Industry, Regulation and Compliance (DAIIRC)," will cost $1,500 and participating institutions will sponsor their executives to take the course. The course is a collaboration between the SEC Nigeria, the Kenya School of Government, the University of Cambridge, and Busha, a Nigerian crypto exchange.

Dr Emomotimi Agama, Director General of SEC Nigeria, stated that the partnership reflects the commission's commitment to equipping regulators, policymakers, and market leaders with the tools they need to engage with digital assets from a position of confidence, not caution. Agama further emphasized that the partnership with the University of Cambridge and Busha aims to deliver a world-class executive program.

The SEC's new course will help policymakers, lawmakers, and senior regulators understand the fundamentals of blockchain and digital assets, the risks and opportunities in the crypto market, and how to craft policies that balance innovation, investor protection, and financial stability. The course focuses on understanding the challenges faced by Nigerian regulators due to rapid crypto adoption, such as widespread use of unregulated exchanges and peer-to-peer (P2P) platforms, crypto scams and fraud, lack of standardized rules, and tensions between regulators and banks.

More than 33% of Nigeria's 220+ million people are actively engaged in cryptocurrency, making Nigeria one of the largest digital asset markets globally and a clear leader in Africa. Despite regulatory challenges in Nigeria, the SEC's partnership with Busha has grown to over 800,000 users. The SEC's training course could mark a turning point in collaborations, equipping regulators to bridge the gap and engage productively with the fast-evolving digital economy.

The International Finance Corporation (IFC) has been selected to sponsor participants for the course on cryptocurrencies and digital assets organized by the SEC Nigeria in collaboration with the Kenya School of Government. The program aims to teach financial institution leaders and decision-makers about digital assets and their role in creating financial access.

Meanwhile, Kenya's government continues to grapple with crypto regulation due to a lack of clear regulations addressing Anti-Money Laundering (AML) issues, resulting in the country getting grey-listed by the Financial Action Task Force (FATF). The SEC's new course will help policymakers, lawmakers, and senior regulators engage with digital assets from a position of confidence, not caution, as they navigate the complex world of digital assets and strive to create a trusted regulatory ecosystem in Nigeria, better managing the country's unique position as Africa's crypto hub.

Collaboration between SEC Nigeria and Kenya School of Government to potentially launch cryptocurrency training program in partnership with Nigerian Exchange, Busha