The growing potential of digital asset theft has alarmed Emomotimi Agama, who has warned that it threatens market integrity and erodes investor confidence.
Speaking in Abuja at a celebration of African Union Anti-Corruption Day with the topic “Understanding Virtual Assets and Investment Fraud,” Agama stated that corruption remains a significant barrier to Africa’s social advancement, economic expansion, and appeal to investors
We now face new issues as digital innovation changes financial systems, especially the emergence of sophisticated investment scams that take advantage of unwary investors and virtual asset fraud. These dangers damage trust, compromise the integrity of the market, and take funds away from sustainable development,” he stated.As a front-line regulator, he clarified, the SEC is still dedicated to “improving regulatory frameworks to keep pace with evolving risks in virtual assets and digital investments; strengthening investor education on recognizing and avoiding fraudulent schemes; and Fostering cross-border collaboration to combat corruption and illicit financial flows.”
According to Agama, the Commission is the main regulator for virtual assets categorized as securities or investment goods, and the Investment and Securities Act (ISA) 2025 established important provisions to govern virtual assets (cryptocurrencies, digital tokens, and other blockchain-based assets) in Nigeria.
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