My Client is now mid-conversion to RC a few weeks slower than he'd like, but avoidable if he'd known this earlier. Don't be him. Know which one you're signing up for.
A founder messaged me last week:
"I registered my business years ago, why did the investor's say I'm not a company?"
He wasn't wrong. He also wasn't right. Here's the mix-up that's about to trip up a lot of Nigerian founders.
Think of BN as your starter house and RC as the one you build once you can afford it. Start free. Upgrade when funding, hiring, or contracts make it necessary. Plan for that day now instead of scrambling for it later.
So here's the real story: the free registration isn't a trap, it's a genuinely good deal. Grab it if you're just starting out zero cost beats the usual โฆ(11k-โฆ/25k), no debate. Just don't assume it's the final form of your business.
There's a third option too, IT (Incorporated Trustees), but that's for NGOs and non-profits, not businesses chasing revenue. Different game entirely, worth knowing so you don't confuse the three.
Bottom line: Nigeria is moving from "unclear rules" to "crypto is a real, regulated part of the economy."
More stability, more oversight, more paperwork.
Follow for updates as the rules get finalized. ๐ RT if this helped clarify things.
Nigeria just made a big move on crypto regulation. ๐ณ๐ฌ
On July 17, 2026, President Tinubu signed an Executive Order to bring all the different crypto rules under one roof.
Here's what it means for you, whether you hold stablecoins or run a crypto business
What should you actually do right now?
Holders: stick to licensed platforms, keep records of your trades, ignore anyone claiming "government approved" without proof
Businesses: start preparing compliance docs now, don't wait for the full law to pass