SEC Nigeria codifies commodity exchange rules, opening an RWA tokenization pathway

SEC Nigeria published Rules on Commodity Exchanges, Warehouse Receipt Systems and Collateral Management under ISA 2025, setting licensing and operational standards for commodity market participants, including real-world asset tokenization. Paired with Ghana's Africoin sandbox admission a month earlier, this is the second African regulator in a quarter to give agricultural and natural-resource tokenization an explicit legal home. Licensing pathways were expected Q2 to Q3 2026; platforms building RWA products on Nigerian rails now have a rulebook to design against.