Nigeria Crypto Licence FAQ (SEC ARIP)

Short answers on which crypto firms SEC Nigeria has admitted and what an Approval-in-Principle means.

Which crypto exchanges are approved by SEC Nigeria?

14 crypto firms have been admitted by SEC Nigeria into its Accelerated Regulatory Incubation Programme (ARIP): Busha, Quidax, Bitbarter, Blockvault, GetEquity, KoinKoin, Luno Nigeria, Trovotech, Wrapped CBDC (cNGN), GIGX, KuCoin Nigeria, BC Access (Nigeria), Pisi Payments, Yellow Card. An Approval-in-Principle is not a final licence: the SEC says it remains conditional on continued compliance. Full list.

Is Binance approved by SEC Nigeria?

No company or trading name in the SEC's ARIP and Regulatory Incubation lists, or its 2026 ARIP admission circulars, carries the name Binance.

Is KuCoin licensed in Nigeria?

KuCoin Nigeria Limited was cleared for admission into the SEC's ARIP on 3 July 2026 and receives an Approval-in-Principle. The SEC says this is not a final licence.

Is an Approval-in-Principle a licence?

No. The SEC says an Approval-in-Principle is not a final licence and remains conditional on continued compliance; under the ARIP framework it applies pending final registration by the Commission.