The Securities and Exchange Commission(SEC) Nigeria, in collaboration with leading digital assets exchange Quidax hosted an educational series aimed at equipping Nigerian finance professionals with the knowledge and tools needed to navigate the evolving digital assets ecosystem.

The exclusive two-day event, held at the prestigious Capital Club in

Victoria Island, Lagos, convened representatives from commercial banks,

asset management firms, pension fund administrators, and securities

traders. Some of the participants at the event were from Zenith Bank,

ARM, Investment One, FBNQuest, Interswitch, Ecobank, Africa Prudential,

Meristem, Wema Bank, Capitafield, Sterling Bank, and several other

companies.

Speaking at the event, Abdulrasheed Dan Abu, Head of FinTech and

Innovation at the Securities and Exchange Commission, underscored the

programme’s significance. He stated that the initiative reflects the

commission’s statutory responsibility not only to regulate the capital

market but also to actively develop it.

Dan Abu emphasized the integral role of traditional financial

institutions in the growth of the digital asset ecosystem. “The banks

hold fiat currency. If they don’t understand what is going on, it

creates a disconnect in the value chain. The more banks that understand

digital assets, the better the playing field for users,” he explained.

This educational series builds on a series of significant regulatory

milestones in Nigeria’s digital finance space. On 29 March 2025,

President Bola Tinubu signed into law the Investments and Securities Act

(ISA) 2025, which formally classifies cryptocurrencies and other virtual

assets as securities, thereby placing them under the SEC’s purview.

Prior to this, in June 2024, the commission issued rules for Virtual

Asset Service Providers, providing crucial regulatory backing to

exchanges and other entities operating in the space.

Buchi Okoro, Co-founder and Chief Executive Officer of Quidax,

highlighted the event’s core purpose: supporting adoption by educating

both beginners and advanced participants within the financial industry.

“Adoption starts with education. This session caters to people at

different knowledge levels, from total beginners to those who have

conducted blockchain pilots,” he said.

Okoro reiterated Quidax’s ambitious Pan-African mission, noting that

the exchange already operates in nine countries and plans to expand to

all 54 African nations. “We’re solving African problems for

Africans, and this event partnership with the SEC helps us do that

within regulatory guardrails,” he added.

The event garnered strong support from other key industry players,

reinforcing the collaborative spirit essential for digital asset

integration.

Pascal Maguire, Sales Director for Africa at Fireblocks, stressed the

need for such forums: “We need more finance and payments experts and

decision makers to attend such forums as this enables them to see that

they have trusted partners in firms like Quidax, Fireblocks, and the SEC

who can both educate them and guide them on their adoption and

innovation journey.”

Ajibade Laolu Adewale, Chairman of the Committee of E-Business Heads in

Nigerian Banks and Chief Partnership Officer at Wema Bank, a panelist at

the event, highlighted the pressing need for digital assets due to

inefficiencies in traditional banking. “Today, moving money

internationally still takes days and depends on informal channels. With

blockchain, you can transfer value instantly and securely,” he stated.

Attendees also expressed their positive reception. Sunday Joseph

Olaniyan, Head of E-Business at Sun Trust Bank, remarked, “Events like

these bring such awareness even closer to us as institutions here in

Nigeria and presents us with the opportunity to not be left out of this

wave of change. People like myself who have been aware of digital assets

are now even more sensitized to the global trend and I sure do not want

to be left behind at all.”

Adding to the sentiment, Bukola James-Cole, Director of Capital Market

at Africa Prudential PLC, spoke about the natural evolution of money.

She emphasized, “Whether we like it or not it will happen so the

earlier we start getting educated about digital assets the better for

the industry.”