- Agama said Tinubu showed his acceptance and endorsement of crypto when he appointed him (Agama), a crypto enthusiast, as head of Nigeria’s SEC
- He said Tinubu deserves praise for adopting cryptocurrency long before Donald Trump did in the US
- Agame explained that the commission is trying to put all of the current cryptocurrency exchanges in one place so that it can comprehend their operations and determine the risks involved
The director general of the Nigeria Securities and Exchange Commission (SEC), Emomotimi Agama, has said President Bola Tinubu long endorsed cryptocurrencies before President-elect Donald Trump did.
Agama said this at the sidelines of the African Financial Industry Summit, held on 9 and 10 December in Casablanca, Morocco.
Per Arise TV, Agama said Tinubu showed his acceptance and endorsement of crypto when he appointed him (Agama), a crypto enthusiast, as head of Nigeria’s SEC.
Speaking on a wide range of issues, including why he was at the summit, the outlook for 2025 and the crypto landscape in Nigeria, he said Tinubu deserves praise for adopting cryptocurrency long before Donald Trump did in the US and that the government has taken the necessary actions in the sector.
He said: “What brought me here to Casablanca is the same thing that brought everybody here. The integration of the African capital market and African financial systems to becoming one straight line being able to deliver service to every African from whatever part that African comes from.”
Explaining that he had been a crypto enthusiast long before his appointment to head the SEC, Agama said: “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. So even before President Trump started thinking about that, our own dear president had already thought about it. ”
Speaking on recent actions taken by the SEC, Agame explained that the commission is trying to put all of the current cryptocurrency exchanges in one place so that it can comprehend their operations and determine the risks involved.
“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.”
Recall that TheRadar had reported that the SEC had granted operating licenses to two indigenous crypto exchanges, Busha Digital Limited and Quidax Technologies Limited, to commence operations under its Accelerated Regulatory Incubation Programme (ARIP).
SEC chair announces resignation, XRP reacts
Meanwhile, TheRadar earlier reported the chair of the United States Securities and Exchange Commission (SEC), Gary Gensler, has announced his resignation effective January 20, 2025.
In a press statement dated November 21, 2024, and published on the SEC website, which Gensler shared on his X account, the SEC chair described the commission as a mission-driven commission focused on protecting investors.
“On January 20, 2025, I will be stepping down as SEC Chair,” he posted. “The SEC is a remarkable agency. The staff & the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, and ensuring that the markets work for investors & issuers alike. The staff comprises true public servants.”
