Nigerian finance apps face a massive cash crunch immediately because the Securities and Exchange Commission just rewrote the rulebook on minimum funds. Circular No. 26-1 forces every regulated entity to show significantly more money in the bank or risk getting shut down. Officials claim this strengthens stability while aligning with modern risks like digital assets, yet it definitely raises the barrier to entry.
This aggressive mandate hits absolutely everyone in the ecosystem without exception. Whether a company runs a digital asset exchange, manages portfolios, or handles commodities, it must meet these steeper financial demands. The regulator wants uniform standards across the board, ensuring that even fintech operators and crypto...