Emomotimi Agama, the Director General of the Nigerian Securities and Exchange Commission says that Nigerian President, Bola Ahmed Tinubu, supported the cryptocurrency industry long before former U.S. President, Donald Trump, did.
Speaking on the sidelines of the African Financial Industry Summit in Casablanca, Morocco, Agama revealed that, through his appointment by President Tinubu to lead SEC Nigeria, the president effectively endorsed cryptocurrency given his long-standing connection to the industry.
“I guess you will first give credit to the president of the Federal Republic of Nigeria, GCFR President Bola Ahmed Tinubu, even for the appointment he has made in the Nigerian SEC. I have been an enthusiast of cryptocurrency and the president deemed it fit to make me the DG of the SEC and that is phenomenal,” said Agama.
“So even before President Trump started thinking about that, our own dear president has already thought about it. ”
He added that the current administration has taken the necessary steps for the industry, and credit should be given to President Tinubu for embracing cryptocurrency long before Donald Trump did in the United States.
“What we have done is that we have been able to do what we needed to do that is why we created what is known as the Regulatory incubation and the accelerated regulatory incubation program” said Mr. Agama.
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According to the official, the agency is working to consolidate all existing crypto exchanges in order to better understand their operations and assess the risks involved.
Mr. Agama believes that, in collaboration with relevant authorities, his agency is democratizing the cryptocurrency process in Nigeria for its youth and the rest of Africa.
The comments are related to the move by SEC Nigeria on August 29 2024 to grant Busha and Quidax, two local exchanges, ‘Approval-in-Principle’ to begin operations under the Accelerated Regulatory Incubation Program (ARIP).
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