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Nigeria

NG / NGARestricted

Largest crypto market in Africa. SEC allows crypto trading; CBN partially restricts bank-to-crypto. FATF standard compliance required.

Key Regulations

SEC Nigeria Digital Assets Rules (2022)CBN circular on crypto (2021, partially lifted)FATF monitoring

Regulatory Context

Crypto activities in Nigeria face material restrictions. Certain products or activities may be prohibited; others require specific licensing from CBN / SEC Nigeria. Consult jurisdiction-specific legal counsel before serving users in Nigeria.

Regulatory Profile

Primary Regulator

CBN / SEC Nigeria

Official site

Currency

NGN

MiCA Applies

FATF Member

Yes

OFAC Sanctions

None

G20 / OECD

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SL-1 API Call

{
  "action": "place_order",
  "actor": {
    "declared_jurisdiction": "NG"
  }
}

Expected verdict

NEEDS_REVIEW

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Other Restricted Jurisdictions