Post by Augustine Chiagozie (@pabloexchange)

🇳🇬 Tinubu Signs Executive Order Targeting Nigeria's Crypto Regulation Gaps

Nigeria's President Bola Tinubu has signed an executive order aimed at closing regulatory loopholes in the country's crypto market, which recorded approximately $59 billion in inflows between July 2023 and June 2024, according to IMF data.

The order targets gaps in oversight of a market that has grown into one of Africa's largest by volume. No further implementation details were available from the source.

Nigeria has been tightening crypto regulation following high-profile disputes with major exchanges, including the detention of a Binance executive earlier in 2024 over allegations tied to currency manipulation and money laundering.

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