Why the terms are confused
Platforms may use ARIP and VASP licence in marketing copy. The practical question is what the SEC says about the entity in its register, not which label appears in an advert.
How to read ARIP
ARIP is an intake and assessment pathway. A status can be conditional, temporary or part of a pilot. Quote the SEC wording and do not expand it into a full licence.
What a full licence means
Use full-licence language only when SEC clearly lists the licence type and status. A pending application or pilot participation is not the same thing.
Comparison checklist
- Legal entity name in the SEC register.
- Status wording: ARIP or another status named by SEC.
- Official domain, terms and complaints channel.
- Products and jurisdictions covered by the account.
Warning signs
Be cautious of “SEC guaranteed” claims, personal-account payment requests, or support asking for a private key. Use the domain in the official record and enable MFA.
Keep an audit note
Save the SEC link, date and entity name. Recheck before a deposit because programmes and records can change.
FAQ
Does ARIP protect the value of assets? No. It is a regulatory pathway, not a return or custody guarantee.
Can a platform description change? Yes. Use the SEC record for status.
Sources and update method
SEC Nigeria RI and ARIP programmes; SEC Nigeria ARIP update
Review SEC status before registration
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