Tinubu Signs Executive Order to Harmonize Nigeria's Crypto Regulations

Nigerian President Bola Tinubu signed an executive order in mid-2026 to harmonize the country's oversight of the digital economy. The order aimed to address a fragmented regulatory environment, where virtual assets were blurring traditional boundaries between currencies, money, commodities, and securities.

The lack of clarity on crypto regulations has had negative consequences, including pushing trading activities to unregulated platforms, making it harder for regulators to track transactions. This has also led to an increase in scams and unlicensed operators exploiting the gaps in the rules.

The executive order established a Virtual Asset Council and created a Virtual Asset Office at the Central Bank of Nigeria. It mandated information-sharing and reporting through an integrated supervisory technology platform and authorized the creation of an implementation framework within 30 days.