Rwanda and Nigeria Sign Crypto Regulation Pact to Combat Digital Asset Fraud

Rwanda's Capital Markets Authority and Nigeria's Securities and Exchange Commission have signed a cooperation agreement to strengthen oversight of digital assets and combat cryptocurrency fraud across the two countries. The pact extends Nigeria's existing cross-border financial coordination with Ghana, Egypt, and South Africa. Nigeria hosts Africa's largest crypto market, valued at approximately $92 billion, but has faced significant fraud incidents, including the 2025 collapse of digital asset scheme CBEX, which resulted in hundreds of millions of dollars in investor losses. The agreement aims to align regulatory frameworks and enhance cross-border coordination against borderless financial crimes in the virtual asset space.
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