PANews reported on August 20 that according to Bloomberg, the Director General of the Nigerian Securities and Exchange Commission (SEC), Emomotimi Agama, said that the regulator plans to issue the first batch of digital service and tokenized asset licenses this month. Agama said in an interview with Bloomberg TV: "As a cryptocurrency enthusiast and fintech enthusiast, I can tell you without a doubt that this will happen faster than you think. We must support the young people of this country so that they can benefit from fintech. The market is huge and it is still growing."

Earlier yesterday, it was reported that the Nigerian Securities and Exchange Commission issued the first temporary operating license to the local cryptocurrency exchange Quidax.