Nigeria’s Securities and Exchange Commission has granted Luno Fintech Nigeria Limited Approval in Principle for admission into its Accelerated Regulatory Incubation Programme.

Luno was one of seven fintech companies cleared to enter the programme alongside Bitbarter Technologies, GetEquity, Koinkoin Global Network, Wrapped CBDC, Trovotech and Blockvault Custodian.

The approval allows the companies to operate within the defined scope of ARIP while remaining subject to regulatory, operational and supervisory conditions.

Luno described the decision as a landmark development and said it is the only Nigerian crypto exchange with a global presence to have reached the milestone.

The company said the approval supports its commitment to building a safer, more transparent and compliant digital asset ecosystem in Nigeria.

However, the SEC stressed that Approval in Principle does not constitute a final licence. It confirms only that an applicant has met the requirements to enter ARIP and remains conditional on continued compliance with the regulator’s rules.

ARIP provides a controlled environment in which the SEC can assess digital asset platforms, virtual asset service providers and tokenized product businesses before their services are offered more broadly to the public.