The Central Bank of Nigeria (CBN) has announced plans to work with the Nigeria Securities and Exchange Commission (SEC) to develop the right regulatory framework for digital assets in the country. According to Cardoso, the CBN is expected to partner with the SEC to develop the crypto regulatory framework as they aim to create a sustainable framework for digital assets in the country. The Central Bank of Nigeria will work with the SEC on crypto regulationIn his statement, Cardoso claimed that the collaboration is expected to ensure that all different angles of regulation with respect to digital assets are considered. The CBN also ordered financial institutions to close down all accounts of individuals affiliated with digital assets. For instance, since the announcements, crypto traders, who consist of the country’s youthful population, have still not openly carried out crypto transactions.