Crypto exchanges will hold talks with the head of the SEC of Nigeria on regulatory issues

Nigeria took steps contrary to the December 2023 decision to lift the ban on cryptocurrencies and has since launched an investigation into the use of cryptocurrencies in the country.

In February, the Nigerian government used the country's telecommunications providers to block local cryptocurrency users from accessing the websites of various crypto exchanges such as Binance, OctaFX and others.

The Nigerian Securities and Exchange Commission has also proposed changes to the rules governing platforms offering cryptocurrency services, proposing to increase the registration fee for cryptocurrency exchanges from 30 million Nigerian naira ($18,620) to 150 million naira ($93,000).