The Securities and Exchange Commission (“the Commission” or “SEC”) has cleared three additional Virtual Asset Service Providers (VASPs) for admission into its Accelerated Regulatory Incubation Programme (ARIP). This milestone reinforces the Commission’s ongoing commitment to fostering responsible innovation that deepens Nigeria’s capital market while rigorously safeguarding investor interests.
The newly admitted entities include:
Pisi Payments Solution
BC Access (Nigeria) Limited
Yellow Card (YC) Financial Limited
This development means that these entities would receive the Commission’s Approval-in-Principle (AIP), permitting them to operate within the defined scope of the Programme and subject to conditions stipulated by the Commission. An Approval-in-Principle confirms that an entity has satisfied the Commission’s requirements for admission into the Programme. Please Note that it is not a final licence and remains conditional on the entity’s continued compliance with all applicable regulatory, operational, and supervisory obligations.
About ARIP
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 tokenized 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 before these products and services are offered to the investing public.
For more information please visit the Commission’s official site at FinPort Programs (RI and ARIP) – Securities and Exchange Commission, Nigeria.
The Commission remains committed to enabling innovation that advances efficiency, transparency, financial inclusion, and sustainable growth in Nigeria’s capital market. Through initiatives such as ARIP, SEC continues to encourage responsible technological advancement alongside investor protection guardrails and market discipline. Members of the investing public are strongly advised to verify the regulatory status of anyone promoting investment product or services through the Commission’s official channels before engaging with them.
REGULATION | SEC Nigeria Approves 7 Digital Assets Exchanges and Offering Platforms Onto its Regulatory Incubation Program
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