• Latest
  • Trending
Nigeria to delist naira from peer-to-peer platforms to curb manipulation

Nigeria to delist naira from peer-to-peer platforms to curb manipulation

May 7, 2024
South African investment giant raises caution on Bitcoin ETF risks

South African investment giant raises caution on Bitcoin ETF risks

September 26, 2025
OpenAI’s ChatGPT Pulse now available for Pro users

OpenAI’s ChatGPT Pulse now available for Pro users

September 26, 2025
MSport 2025

MSport 2025: Nigeria’s #1 Sports Betting Site, Powered by Chelsea & BVB

September 25, 2025
MNT-Halan introduces Egypt’s first secure lending solution via Halan App

MNT-Halan introduces Egypt’s first secure lending solution via Halan App

September 25, 2025
Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

September 25, 2025
Airtel Africa invests in education with 100 scholarships and new tech hubs

Airtel Africa invests in education with 100 scholarships and new tech hubs

September 25, 2025
SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

September 25, 2025
Tango Brook launches digital card for fuel management

Tango Brook launches digital card for fuel management

September 25, 2025
AI in Nigeria announces 3rd edition of InnovationAI

AI in Nigeria announces 3rd edition of InnovationAI

September 25, 2025
Interswitch Unveils Quickteller Travel to Transform African Travel Experience

Interswitch Unveils Quickteller Travel to Transform African Travel Experience

September 25, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Cryptocurrency

Nigeria to delist naira from peer-to-peer platforms to curb manipulation

Ibukunoluwa Bankole by Ibukunoluwa Bankole
May 7, 2024
147 3
0
Nigeria to delist naira from peer-to-peer platforms to curb manipulation
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Nigeria’s Federal Government, through the Securities and Exchange Commission (SEC), has announced plans to delist the naira from all Peer-to-Peer (P2P) platforms. This move aims to reduce the manipulation of the local currency value in the foreign exchange market.

Emomotimi Agama, the SEC’s Director General, revealed this decision during an interactive session with the Nigerian Blockchain Industry. He emphasised the need for such measures to protect the integrity of the forex market.

Read also: SEC proposes fee hikes for Crypto platforms in Nigeria

Addressing Crypto Currency Manipulation 

Agama highlighted the importance of delisting the naira from P2P platforms to prevent the manipulation currently affecting the currency’s value. He called for stakeholder cooperation as the SEC prepares new regulations.

RelatedPosts

Verto Reserve enables up to 10% interest on idle funds in naira, KES, and G10 currencies

Traddify introduces payment solutions to simplify cross-border transactions

Binance halts Naira services amid crackdown in Nigeria

Agama stated, “That is one of the things that must be done to save this space. The delisting of the naira from the P2P platforms to avoid the level of manipulation currently happening. I want your cooperation in dealing with this as we roll out regulations in the coming days.”

Agama assured participants of the SEC’s commitment to collaborating with stakeholders in the crypto space. The commission updates its guidelines to ensure compliance with best practices and international standards.

He explained, “We seek collaboration and help to ensure the crypto environment is respected globally.”

The SEC DG expressed concern over the manipulation of the naira’s value by some market players. He emphasised the need for collaboration to ensure that the crypto environment in Nigeria is respected globally.

Agama’s declaration comes from a recent directive from the Central Bank of Nigeria to fintechs, which mandated fintechs to warn their customers against engaging in crypto transactions.

Read also: Nigerian Naira gains 7.2% against Dollar

Recent Regulatory Developments

Agama’s statement follows a recent directive from the Central Bank of Nigeria (CBN) to fintechs. The CBN mandated fintechs to warn their customers against engaging in crypto transactions, signalling a tightening regulatory stance in the country. The CBN’s directive aligns with the National Security Adviser’s classification of crypto trading as a national security issue, prompting strict measures to curb illicit activities and ensure compliance with regulatory standards in the Nigerian financial sector

In essence, the SEC’s decision to delist the naira from P2P platforms reflects ongoing efforts to regulate the crypto space and protect investors. This move, coupled with other upcoming regulations, aims to promote transparency and stability in Nigeria’s digital currency market.

Tags: Nairapeer-to-peer
Ibukunoluwa Bankole

Ibukunoluwa Bankole

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.