Economy
SEC, CBN, EFCC to Track, Freeze Illicit Digital Wallets
By Aduragbemi Omiyale
The Securities and Exchange Commission (SEC) has taken a significant step to ensure the digital asset space in Nigeria is clean and not used for money laundering.
The agency has collaborated with the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) to track and freeze digital wallets used for money laundering and other financial crimes.
“To strengthen enforcement, the SEC is working closely with the CBN and the EFCC to freeze illicit digital wallets and recover criminal proceeds.
“Our goal is to ensure that innovation serves progress, not predation,” the Director General of SEC, Mr Emomotimi Agama, said at the Abuja Journalists Academy.
In his address during a lecture on The Regulation of Digital Assets and Virtual Asset Service Providers in Nigeria, the capital market expert, represented by the Head External Relations Department of SEC, Mrs Efe Ebelo, said the partnership marked a major step in protecting investors and strengthening integrity in Nigeria’s fast-growing digital finance ecosystem.
He noted that Nigeria ranks among the world’s top adopters of digital assets, with more than one-third of the population involved in crypto-related activities, pointing out that it reflects the creativity of Nigerian youth, the spread of mobile technology, and the drive for financial inclusion.
However, he warned that the rapid growth of digital assets has also opened opportunities for abuse, listing common threats such as crypto scams, fake wallet applications, phishing attacks, and ransomware schemes, which have defrauded many unsuspecting citizens.
“Without strong regulation, innovation can quickly become vulnerability,” he cautioned, adding, “Regulation is not about restriction; it is about building trust and ensuring that innovation strengthens our economy rather than weakens it.”
To address these challenges, the agency has established a detailed regulatory framework for Virtual Asset Service Providers (VASPs) under its 2022 Rules on the Issuance, Offering, and Custody of Digital Assets.
The framework rests on three pillars of licensing, compliance and transparency.
Mr Agama said these measures were part of the Commission’s broader commitment to build a transparent and trustworthy digital asset market that protects investors and discourages criminal activities.
Beyond issuing regulations, he said the SEC is also deploying modern technology to monitor transactions in the digital space, saying the commission now uses blockchain analytics tools and artificial intelligence (AI) to trace transactions, detect fraud, and improve cybersecurity.
“We are leveraging blockchain analytics, AI, and advanced monitoring systems to strengthen our supervisory capacity,” he explained. “This will help us respond faster to suspicious transactions and protect market integrity.”
He added that the organisation’s partnership with the CBN and the EFCC would enhance coordination between financial regulators and law enforcement agencies, allowing them to act swiftly against cross-border financial crimes.
The SEC chief also placed Nigeria’s regulatory approach within a global context. He said the FATF, through its Recommendation 15, now requires all VASPs worldwide to implement AML and CFT controls.
He cited other jurisdictions such as the European Union, with its MiCA framework, and the United States, where enforcement against unregistered exchanges has intensified.
“The message globally is clear- digital finance must be as transparent, accountable, and investor-friendly as traditional finance,” the SEC DG stated.
According to Agama, the SEC is committed to maintaining a regulatory balance that supports innovation while safeguarding the financial system from abuse.
“If regulators clamp down too hard, innovation migrates offshore; if they regulate too softly, risks multiply,” he noted. “Our task is to find the right balance, one that encourages creativity while protecting Nigerians from exploitation.”
He stressed that digital assets were no longer a fringe concept but a structural pillar of modern finance, reshaping markets and redefining trust, ownership, and value exchange globally.
Mr Agama concluded by reaffirming the SEC’s commitment to building a digital finance ecosystem grounded in ethics and transparency.
“The future of finance is digital, but its foundation must remain ethical, transparent, and trustworthy,” he said. “Trust is the ultimate currency, and as regulators, our highest duty is to preserve it.”
He urged Nigerian innovators, fintech firms, and investors to embrace responsible innovation, assuring them that the SEC’s goal is to create a secure environment that promotes financial inclusion, investor protection, and national development.
Economy
A $108 Welcome Bonus Is Helping More Users Explore Cloud-Based Crypto Access in 2026 as Major Digital Assets Remain in Focus
As the digital asset market continues to expand, more users are paying attention not only to which cryptocurrencies are trending, but also to how they can take part in the market with less complexity. For many people, traditional mining has started to feel too expensive, too technical, and too demanding to manage. That is why cloud-based participation is becoming more visible as a practical alternative.
In this environment, BM Blockchain is attracting attention as a platform designed to simplify crypto participation. By offering new users a $108 welcome bonus, the platform is creating a more appealing first step for people who want to explore digital asset opportunities without dealing with hardware ownership, complicated setup, or long-term maintenance.
Why More Users Want a Simpler Path Into Crypto
Interest in digital assets remains strong, but many users no longer want to enter the market through methods that require specialized machines and technical expertise. Traditional mining often involves high upfront equipment costs, electricity use, cooling demands, and continuous system management. These challenges can make direct participation difficult for people who are curious about crypto but do not want the operational burden.
Cloud-based models help change that experience. By allowing users to access participation through an online structure instead of running hardware themselves, they make the process feel more manageable and less intimidating. For many users, that shift is becoming one of the most important reasons to consider cloud-based crypto access in 2026.
This approach can be especially attractive because it offers:
- a more accessible starting point
- less technical responsibility
- no need to purchase and manage hardware
- easier access to crypto-related participation
- more flexibility when following different digital asset stories
Why Bitcoin, XRP, Ethereum, and Dogecoin Still Matter
Even as participation models evolve, user attention continues to center on a few major digital asset names.
Bitcoin remains the most recognized mining-related asset in the market and continues to shape how many people think about crypto participation. Its long-standing market position makes it the reference point for many users exploring digital assets.
XRP remains highly visible because of its familiarity and strong public recognition. For many users, it feels easier to follow than more technical blockchain narratives, which helps it maintain broad appeal.
Ethereum continues to matter because of its importance to blockchain utility, smart contracts, and the wider crypto ecosystem. It remains one of the strongest technology-linked narratives in the market.
Dogecoin continues to attract attention because of its approachable image, broad retail popularity, and strong public visibility. It remains one of the most familiar crypto stories for everyday users.
Together, these digital assets show why the market continues to attract a wide range of participants. Some users are drawn by mining history, some by utility, some by familiarity, and others by community-driven popularity. What many now share, however, is a growing interest in simpler participation methods.
Why Cloud-Based Participation Feels More Relevant in 2026
One of the biggest changes in the market is that users are paying more attention to convenience. Instead of focusing only on price movements or older mining models, they are also comparing how easy a platform feels to use. This is where cloud-based participation has gained an advantage.
Rather than requiring users to become equipment operators, cloud-based platforms give them a route into the market through a simpler and more service-led format. That makes the experience feel closer to a digital platform model than a technical infrastructure project. In 2026, this difference is becoming more important as new users look for ways to participate without facing unnecessary complexity.
How BM Blockchain Positions Itself
BM Blockchain is aligning itself with this trend by emphasizing easier onboarding and a more accessible participation model. Instead of asking users to take on the full burden of traditional mining, the platform presents a cloud-based structure designed to lower barriers from the beginning.
This may be especially appealing to users who want exposure to major digital asset themes such as Bitcoin, XRP, Ethereum, and Dogecoin while avoiding the technical demands of direct mining. By reducing friction and simplifying entry, BM Blockchain presents itself as a more approachable option for people exploring digital assets for the first time.
The $108 Bonus Adds More Value at the Start
For many first-time users, a welcome incentive can make the difference between passive interest and actual registration. BM Blockchain’s $108 welcome bonus gives new users a clear reason to explore how the platform works and what cloud-based participation can offer.

In a competitive market, this kind of onboarding benefit can help reduce hesitation, create a stronger first impression, and make the platform feel more worthwhile from the beginning. It also reinforces the broader message that entering crypto does not always need to start with complexity.
Conclusion
The digital asset market is becoming more accessible as user expectations continue to change. More people are now looking for flexible and convenient ways to explore crypto opportunities without the operational burden of traditional mining.
As Bitcoin, XRP, Ethereum, and Dogecoin continue to hold user attention in 2026, cloud-based participation models are becoming increasingly relevant for those who want a simpler route into the market. With its cloud-based structure and $108 welcome bonus for new users, BM Blockchain is positioning itself as a practical choice for people who want to explore digital asset opportunities through a more manageable path.
Economy
NASD Index Starts Week Strong with 0.52% Growth
By Adedapo Adesanya
It was green for the NASD Over-the-Counter (OTC) Securities Exchange on Monday, April 20, as it recorded a 0.52 per cent appreciation.
During the session, the NASD Unlisted Security Index (NSI) added 20.31 points to close at 3,913.46 points compared with last Friday’s 3,893.15 points, and the market capitalisation went up by N12.15 billion to close at N2.341 trillion versus the previous N2.329 trillion.
Yesterday, there were five price gainers led by MRS Oil Plc, which added N19.75 to sell at N217.50 per share compared with the previous price of N197.75 per share. Central Securities Clearing System (CSCS) Plc appreciated by N1.02 to trade at N59.02 per unit versus N58.00 per unit, IPWA Plc grew by 66 Kobo to N7.27 per share from N6.61 per share, Lighthouse Financial Services Plc increased by 7 Kobo to 79 Kobo per unit from 72 Kobo per unit, and Industrial and General Insurance (IGI) Plc chalked up 3 Kobo to sell at 66 Kobo per share versus 63 Kobo per share.
Data from Monday’s trading session showed that the volume of securities traded rose by 86.4 per cent to 245,830 units from 131,870 units, but the value of securities slowed by 37.2 per cent to N11.1 million from N17.8 million, while the number of deals remained unchanged at 24 deals.
The most traded stock by value on a year-to-date basis was Great Nigeria Insurance (GNI) Plc with 3.4 billion units worth N8.4 billion, followed by CSCS Plc with 58.8 million units sold for N4.0 billion, and Okitipupa Plc with 27.8 million units transacted for N1.9 billion.
Similarly, the traded stock by volume on a year-to-date basis was GNI Plc with 3.4 billion units traded for N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units exchanged for N1.2 billion.
Economy
Naira Loses N6 to Trade at N1,349 Per Dollar at Official FX Market
By Adedapo Adesanya
The Naira depreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, April 20, by N6.03 or 0.45 per cent to close at N1,349.67/$1, in contrast to the previous session’s N1,343.64/$1.
In the same vein, the local currency also fell against the Pound Sterling in the trading first session of the week by N2.39 in the official FX market to trade at N1,826.78/£1 compared with the N1,824.39/£1 it was exchanged for last Friday, but appreciated against the Euro by N1.76 to finish at N1,589.38/€1 versus N1,591.14/€1.
A look at the black market window showed that the Nigerian Naira traded flat against the US Dollar yesterday at N1,375/$1, but appreciated by N1 at the GTBank forex counter to sell at N1,354/$1 compared with the preceding session’s N1,355/$1.
The Naira is under pressure from surging international payments at the start of the week, which is expected to put further pressure on the country’s foreign reserve. The reserve is expected to decline further amid fluctuations in crude oil prices in the global commodity market.
The US Dollar is showing slight strength globally due to rising tensions between the US and Iran. Investors are moving towards safer assets like the Dollar because of uncertainty in the Middle East. The situation is tense as Iran has pulled out of talks with the US, and concerns remain about the Strait of Hormuz, an important route for global oil supply.
As for the cryptocurrency market, digital assets were largely up as markets bet on progress in cease-fire talks between Iran and the US, even as the current two-week truce nears its Wednesday deadline.
US President Donald Trump said on Monday that he is not likely to extend it, and market analysts noted that that’s the deadline markets are now trading on.
Solana (SOL) gained 2.0 per cent to sell at $85.64, Bitcoin (BTC) jumped by 1.9 per cent to $75,791.24, Ripple (XRP) increased by 1.9 per cent to $1.43, and Binance Coin (BNB) rose by 1.8 per cent to $630.76.
Further, Ethereum (ETH) improved by 1.7 per cent to $2,311.60, Cardano (ADA) soared by 1.6 per cent to $0.2490, and Dogecoin (DOGE) expanded by 1.3 per cent to $0.0954, while TRON (TRX) depreciated by 0.9 per cent to $0.3286, with the US Dollar Tether (USDT) and the US Dollar Coin (USDC) unchanged at $1.00 apiece.
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