Nigeria Takes Control: CBN Leads New Regulatory Framework for Crypto Market
Nigeria is set to play a central role in a new regulatory framework for its fast-growing cryptocurrency and virtual asset market. The Central Bank of Nigeria (CBN) will lead the effort, along with other government institutions.
The move follows the Federal Government's introduction of the Presidential Executive Order on Virtual Assets Coordination, 2026, which established a framework to harmonise oversight of digital assets and improve coordination among financial, revenue, and capital market regulators.
According to officials, the CBN, Nigeria Revenue Service (NRS), Securities and Exchange Commission (SEC), and other government institutions are working toward creating a more predictable environment for cryptocurrency businesses, stablecoin operators, and virtual asset service providers.