Blockchain & Web3 Development Company in Lagos

Yes. The Central Bank of Nigeria's February 2021 directive prohibiting banks from servicing crypto exchanges was reversed in December 2023, and SEC Nigeria issued Digital Asset Rules (DAR) in 2024 establishing a licensing regime for Virtual Asset Service Providers (VASPs), exchanges, and digital asset offerings. Banks can now provide accounts to SEC-licensed crypto businesses subject to CBN AML/CFT controls, FATF Recommendation 16 Travel Rule compliance, and the Cybercrimes Act 2024 amendment. Unlicensed activity remains exposed. We classify every project under the 2024 DAR (security token, utility token, or payment instrument), confirm whether VASP licensing is required, and structure the build so the institution can move into licensing without re-architecting. eNaira (CBDC) operates under separate CBN authority.

Whether you need a licensable exchange or a working prototype is the whole spread on Lagos Web3: a scoped Web3 proof of concept (USDT/USDC payment rail prototype, tokenized commodity pilot, Nollywood royalty smart contract suite) at Lagos rates, a production stablecoin payment platform, exchange backend, or tokenized commodity system, or a full VASP-licensable exchange or wallet build. Scope drivers include SEC DAR classification, an internal security review, a hosted demo, external audit by Quantstamp, Hacken, or Halborn, AML/CFT integration, and CBN reconciliation. We quote fixed-fee in both NGN and USD, holding USD pricing flat against Naira volatility so your CFO can plan.

SEC Nigeria's Digital Asset Rules (DAR), issued in 2024 under the Investment and Securities Act, establish a licensing regime for Virtual Asset Service Providers (VASPs), Digital Asset Exchanges, Digital Asset Offering Platforms, and Digital Asset Custodians. Requirements include minimum capital, fit-and-proper directors, AML/CFT controls aligned to the SCUML Act and the CBN AML/CFT Regulation, Travel Rule compliance under FATF Recommendation 16, segregation of client assets, audited proof of reserves, and incident reporting. Security-token offerings additionally trigger prospectus and disclosure obligations. We classify every token early in discovery, structure the build to meet DAR by the time you license, and coordinate with your SEC Nigeria counsel rather than guessing at the regulatory perimeter.

Yes, with the caveat that eNaira adoption has remained well below CBN's initial targets and consumer pull is weak. The corporate use case (B2B settlement between banked entities, government disbursements, agent banking float management) is more viable than the retail case. We integrate against the eNaira Speed Wallet API for institutional wallets, build reconciliation between eNaira and traditional Naira RTGS/NIP rails, and document the operational risk realistically. For clients whose primary goal is dollar preservation or cross-border settlement, USDT and USDC on Tron or Ethereum will move more volume than eNaira; we will say that out loud rather than oversell the CBDC.

Yes. Nigerian cocoa exporters (the country is among the world's top cocoa producers), palm-oil refiners, sesame and soybean exporters increasingly need tokenized provenance to satisfy EU Deforestation Regulation (EUDR) buyers, who from December 2024 require geo-located, deforestation-free supply-chain attestations. We build Hyperledger Fabric or Ethereum-anchored provenance platforms tying farm GPS, cooperative records, processor lot numbers, and export documentation into an auditable chain. Same architecture supports trade-finance unlock: a tokenized proof of reserves lets exporters borrow against inventory through CBN-supervised Development Bank of Nigeria or Bank of Industry programs at better rates than uncollateralised paper allowed.

Every contract goes through an internal audit checklist drawn from Trail of Bits, OpenZeppelin, and Consensys Diligence public methodologies (reentrancy, integer issues, oracle manipulation, access control, upgradeability hazards, MEV exposure), then an external audit by Quantstamp, Hacken, CertiK, or Halborn before mainnet. For SEC DAR-licensable platforms we additionally run a formal verification pass on critical paths (Certora or Runtime Verification) and a fuzzing campaign in Foundry or Echidna. Bug-bounty launch on Immunefi is scoped into any platform holding meaningful TVL. We coordinate with your security counsel on incident response and on-chain forensics partners (Chainalysis Reactor, TRM Labs) before tokens move.

USDT (Tether) on Tron dominates Lagos P2P volume by a wide margin, because Tron fees are predictable and Binance P2P, Yellow Card, and informal merchant networks have standardised on it. USDC (Circle) is preferred by enterprise clients and SEC-licensed exchanges because of Circle's transparency reports and the FSCA/SEC-friendly compliance posture. For new builds targeting both retail P2P and institutional flows, we ship multi-rail support (USDT-Tron, USDT-Ethereum, USDC-Ethereum, USDC-Solana, USDC-Base) with a routing layer that picks lowest-cost confirmed rail. Naira on/off-ramp goes through Yellow Card, Bitnob, or Onafriq for retail and through Flutterwave or Paystack PSP rails for enterprise.

The Nigeria Data Protection Act 2023 applies to any platform processing personal data of Nigerian data subjects, including KYC documents on a crypto exchange. We file an NDPC-template DPIA, document Section 41 cross-border transfers (e.g. KYC analysis on a US-based Chainalysis instance), and build subject access and erasure flows that account for the immutability of on-chain data versus the mutability of off-chain KYC stores. The Cybercrimes (Prohibition) Act 2015, amended 2024, requires VASPs and platform operators to maintain logs for two years, report breaches to NITDA and the EFCC, and cooperate with lawful access requests. Our default architecture separates on-chain settlement from off-chain personal data so neither obligation undermines the other.