Emomotimi Agama, the Director-General of the Nigeria Securities and Exchange Commission (SEC), informed the publication Techcabal via text message that contrary to previous reports, the SEC has not issued any cryptocurrency licenses to any entity. Agama stated that the committee plans to begin issuing licenses for digital services and tokenized assets starting August 2024. This move comes after the SEC intensified its scrutiny of cryptocurrency exchanges and pushed for regulation in the industry, including requiring exchanges to remove naira from peer-to-peer transactions to prevent currency manipulation. Agama emphasized that no one has been approved so far.