Approval in Principle marks a major regulatory milestone for Luno Nigeria and strengthens the company’s position to support the country’s growing digital asset ecosystem
Lagos, Nigeria – July, 2026 – Luno Nigeria, the local entity
of the global cryptocurrency platform founded in Africa in 2013, has
received Approval in Principle from Nigeria’s Securities and Exchange
Commission (SEC) through admission into the Commission’s Accelerated
Regulatory Incubation Programme (ARIP), becoming the first global
cryptocurrency exchange to achieve this milestone.
The approval represents a significant step in Luno Nigeria’s regulatory
journey, following an extensive engagement process with the SEC, and
reflects the company’s commitment to building within Nigeria’s evolving
digital asset regulatory framework.
Admission into ARIP means Luno has satisfied the SEC’s requirements to
participate in the programme and is authorised to operate within its
defined scope, subject to the Commission’s ongoing compliance
obligations and regulatory conditions.
Luno has operated in Nigeria since 2015 and was one of the first
cryptocurrency exchanges to serve the market. The company has since
built a strong local presence, combining global expertise with deep
local market experience, and continues to view Nigeria as one of its
most important markets globally.
Speaking on the approval, Luno Nigeria CEO Ayotunde Alabi said, “This
is an important milestone for Luno Nigeria and a strong validation of
our commitment to building responsibly in one of Africa’s most important
cryptocurrency markets. Admission into ARIP gives us a clearer
regulatory pathway, strengthens trust with customers and partners, and
provides a stronger foundation for the next phase of our growth,
particularly as we expand our focus on institutional and B2B
opportunities. We are grateful to the SEC for its continued engagement
and to everyone across Luno whose hard work, resilience, and commitment
helped us get to this point.”
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As Luno continues to expand its operations across B2B operations,
engaging banks, fintechs, payment providers, asset managers and
corporate institutions exploring digital asset solutions, regulatory
clarity is increasingly becoming a prerequisite. Admission into ARIP
strengthens Luno’s ability to engage these organisations as demand grows
for compliant digital asset infrastructure, including stablecoin
applications, treasury solutions, crypto-as-a-service offerings and
secure access to digital assets.
ARIP is an innovative regulatory environment designed to fast-track the
on-boarding of digital asset and other investment service providers
(like Virtual Asset Service Providers and tokenised product platforms)
through a controlled regulatory sandbox. It allows the Commission to
assess novel business models and technologies in a controlled regulatory
environment to ensure that appropriate safeguards are in place to
protect investors and preserve market integrity.
Building on the initial licensing rollout in 2024, Luno’s inclusion in
the programme’s second batch reflects Nigeria’s commitment to creating a
structured, transparent environment for the sector to grow. The
development strengthens trust among customers, institutional partners,
regulators and the wider market.
