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Nigerian SEC warns influencers of new 3 year jail term for promoting ‘unlicensed’ crypto – TON BOT

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Nigerian SEC warns influencers of new 3 year jail term for promoting ‘unlicensed’ crypto

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The Nigerian SEC has implemented stricter rules for influencers promoting crypto products, requiring transparency and licensing by the SEC before endorsements. Promotional content must be labeled as sponsored and use simple language, avoiding misleading claims. Violators face fines, imprisonment, or both. The SEC will monitor and prosecute violators, aligning with global trends in crypto regulation. Additionally, the SEC has tightened oversight on VASPs, requiring registration and adherence to governance standards, with regulations taking effect in June 2025 to improve transparency and investor protection in Nigeria’s crypto ecosystem.

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