Nigerian Tech Firm Launches Naira-Pegged Stable Coin

Nigerian fintech firm, ProsperaVest ESG Ltd, has introduced eNsc, a stablecoin pegged 1:1 to the Nigerian Naira and built on the Lisk 2.0 blockchain. The digital asset is designed to enable tokenized investments in real-world assets, such as Nigerian Treasury Bills, while operating within regulatory guidelines.

According to the company, eNsc aligns with the Securities and Exchange Commission (SEC) of Nigeria’s efforts to create a transparent and structured framework for virtual assets. “Investor protection and market integrity are at the core of Nigeria’s regulatory approach,” said a spokesperson from the SEC. “The development of digital assets must align with global best practices to ensure stability and compliance.”

ProsperaVest ESG Ltd says eNsc aims to provide a secure and efficient way to access financial instruments that were previously out of reach for many investors. “Our goal is to enhance financial inclusion by leveraging blockchain technology while maintaining strict adherence to regulations,” said Raheem Anikulapo Ibrahim, CEO of ProsperaVest ESG Ltd. “We see this as a step toward modernizing access to investment opportunities.”

The company states that the stablecoin is backed by reserves held in regulated financial institutions and that it incorporates compliance measures such as anti-money laundering (AML) protocols and transparent reserve audits.
Financial analysts note that tokenized assets could improve liquidity and accessibility in emerging markets. “Blockchain-powered investment solutions can remove barriers and create a more efficient financial ecosystem,” said financial consultant Adetayo Oke. “However, their long-term success will depend on regulatory clarity and user adoption.”

By enabling fractional ownership of tokenized assets, eNsc is expected to support cross-border transactions and reduce entry barriers for investors. The firm maintains that compliance will remain a priority. “Trust is fundamental to financial innovation,” said Ibrahim. “We are committed to working closely with regulators to ensure transparency and accountability.”
The stablecoin is now live on the Lisk 2.0 blockchain, with further developments expected as regulatory approvals progress

Justus Adejumoh is an IT / Telecom Reporter who has been covering the ICT sector for over a decade. He is currently the IT / Telecom Editor of Independent Newspapers Limited. With a knack for the industry’s issues and trends, he has given impetus to the industry through agenda-setting reports, analysis of issues and interfacing with industry stakeholders.

A graduate of Nigerian Institute of Journalism (NIJ), he also attended Delta State University, Abraka, Delta State for his first degree and Master from University of Lagos. Also, he has attended several training courses and workshops on media and other fields. They include CNN / MultiChoice Media Training, CSR Training- Pan-Atlantic University (Lagos Business School), and Microsoft Advanced Media Training, among others.

He is currently the General Secretary of Nigeria Information Technology Reporters’ Association (NITRA) and a Senior Member of Chartered Institute of Public Diplomacy and Management (CIPDM).