When the Central Bank finally lifted its crypto freeze, Nigerian traders were ecstatic. But the real game-changer wasn’t just the unbanning—it was the quiet arrival of the Investment & Securities Act 2025. The wild west days are over, and a new, more regulated playground is here.
Remember the scramble? The CBN’s 2021 ban pushed everyone into the shadows of peer-to-peer (P2P) trading. It was a workaround, a necessary hustle. But late 2023 brought a plot twist: a new CBN circular gave banks the green light to once again open accounts for Virtual Asset Service Providers (VASPs). The catch? These aren’t your everyday accounts. Banks are now gatekeepers, required to enforce iron-clad Know-Your-Customer (KYC) and Anti-Money Laundering (AML) checks. The message was clear: crypto is welcome, but only if it plays by the rules.
But that was just the opening act.
The SEC Steps In: Why Your P2P Platform Might Be Illegal
The main event is the Investment & Securities Act (ISA) of 2025. This piece of legislation fundamentally redefines crypto in Nigeria. According to legal analysis from experts at Dentons ACAS-Law, the ISA now classifies “virtual assets” as “securities.”
What does that mean for you?
It means the Securities and Exchange Commission (SEC) is now the sheriff in town. Any platform that deals with crypto—exchanges, custodians, even the over-the-counter (OTC) desks you rely on—must now be registered and licensed by the SEC as a VASP.
And this license isn’t a walk in the park. It requires:
- ₦500 million in paid-up capital.
- A fidelity bond covering at least 25% of the VASP’s assets.
- Rigorous background checks and compliance frameworks.
The days of anonymous, unregulated platforms are numbered. The SEC’s goal, as reported by Reuters, is to clamp down on market manipulation, especially the kind that puts pressure on the Naira’s exchange rate. They’ve even signaled intentions to “delist the naira from P2P trading” on non-compliant platforms.
The P2P Squeeze: Navigating the New Reality
So, where does this leave the average trader? That P2P market you’ve mastered is now under a microscope. The informal spreads, the “best rate” hunts, the risk of dealing with unverified strangers—it’s all becoming a regulatory minefield. You need a way to enjoy the speed and efficiency of digital assets without falling foul of the new rules or getting stuck with unreliable off-ramps.
You need a bridge between your crypto and your bank account that is fast, secure, and, most importantly, compliant.
Mular: Your Compliant Bridge to Instant Fiat
This is where the new landscape creates an opportunity for the savvy trader. Instead of navigating the murky waters of unregulated P2P, what if you could sidestep it entirely?
Mular offers a direct, compliant pipeline. We pipe your USDT straight into the Nigeria Inter-Bank Settlement System (NIBSS) Instant Payments rail. This means your crypto lands directly in your bank account as Naira, almost instantly.
- No P2P Middlemen: You’re not trading with a stranger; you’re using a regulated financial channel.
- Bank-Compliant: The transaction is clean and traceable, meeting the new standards set by the CBN and SEC.
- Speed & Security: You get the velocity of crypto combined with the reliability of the official banking system.
The game has changed, but the goal hasn’t: to move your money efficiently. The new rules don’t have to be a barrier; they can be a reason to upgrade your methods.
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Ready to trade smarter in 2025? Download the Mular app and experience the future of compliant crypto-to-fiat transactions. Stop worrying about regulations and start focusing on your portfolio.