Luno has received Approval in Principle (AIP) from Nigeria’s Securities and Exchange Commission (SEC), becoming the first global cryptocurrency exchange admitted into the regulator’s Accelerated Regulatory Incubation Programme (ARIP).
The approval marks a major step in Luno’s regulatory journey and gives the company a clearer path to operate under Nigeria’s evolving digital asset framework while meeting the SEC’s compliance requirements. Although an AIP is not a full operating licence, it allows the company to participate in the programme under the Commission’s supervision as it works toward full authorisation.
Founded in Africa in 2013, Luno entered the Nigerian market in 2015 and has grown into one of the country’s best-known cryptocurrency exchanges. The company said the approval followed months of engagement with the SEC and reflects its commitment to building a regulated digital asset business in one of its most important markets.
“This is an important milestone for Luno Nigeria and a strong validation of our commitment to building responsibly in one of Africa’s most important cryptocurrency markets,” Luno Nigeria Country Manager Ayotunde Alabi said in a statement.
He added that joining the programme will strengthen trust among customers and business partners while supporting the company’s plans to expand its institutional and business-to-business services in Nigeria.
Luno was one of seven digital asset companies admitted into the latest ARIP cohort. The other firms include Bitbarter Technologies, GetEquity, Koinkoin Global Network, Wrapped CBDC, Trovotech and Blockvault Custodian. The approvals represent the first new admissions into the programme in nearly two years, signalling renewed regulatory engagement with Nigeria’s digital asset sector.
The SEC introduced ARIP to allow digital asset companies to operate within a supervised environment while the country’s broader regulatory framework continues to evolve. Companies admitted into the programme must comply with ongoing operational, regulatory and supervisory requirements before they can qualify for a full licence.
Luno’s admission comes as Nigeria continues to formalise oversight of the cryptocurrency industry following the enactment of the Investments and Securities Act 2025, which recognises digital assets as securities and places them under the SEC’s regulatory authority. The regulator has also tightened capital and compliance requirements for crypto businesses as it seeks to balance innovation with investor protection.
For Luno, the approval could open the door to expanding its product offering in Nigeria over time, particularly for institutional clients and businesses seeking regulated access to digital asset services. It also reinforces Nigeria’s position as one of the company’s largest and most strategic markets as crypto adoption continues to grow across the country.
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