The Nigerian Securities Regulator confirms that cryptocurrency exchanges have followed through with a directive to eliminate the local currency from peer-to-peer platforms. The acting director-general of the Nigerian Securities and Exchange Commission urges platforms engaging in activities contrary to national interests to halt such practices.

Kucoin’s recent delisting of the Naira receives commendation from the Nigerian Securities and Exchange Commission (SEC), which cites it as an example of compliance with the directive. This announcement comes shortly after Kucoin's suspension of P2P Naira services, aligning with local regulations. The SEC's statement on exchange compliance follows its recent decision to delist the Naira from P2P platforms.

Officials in Nigeria argue that removing the Naira from P2P crypto platforms eliminates a tool used by currency speculators to manipulate the exchange rate. Emomotimi Agama, the acting director-general of the securities regulator, emphasizes the importance of complying with directives from the Office of the National Security Adviser. Agama warns against practices undermining national interests and stresses the need to protect the country's assets. He also mentions collaboration with other entities like the Economic and Financial Crimes Commission to prevent the proliferation of peer-to-peer crypto trading.