President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a unified regulatory framework for Nigeria’s cryptocurrency and virtual assets sector.
The new directive, which takes immediate effect, establishes a Virtual Asset Council chaired by the Central Bank of Nigeria (CBN), with the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) serving as vice-chairs. The Council will coordinate oversight, strengthen collaboration among regulatory agencies, protect Nigerians from fraud, and support responsible innovation in the digital economy.
The framework does not create a new regulator or remove the powers of existing agencies. Instead, it harmonises oversight by ensuring the SEC regulates virtual assets classified as securities, while the CBN supervises payment, settlement, custody, and other non-security virtual asset services.
The Executive Order also provides for a CBN regulatory sandbox for blockchain and virtual asset innovations, a dedicated tax policy for the sector by the NRS, and the development of a comprehensive Virtual Assets White Paper to guide Nigeria’s long-term digital economy strategy.
The newly inaugurated Virtual Asset Council has been directed to produce a harmonised implementation framework within 30 days.
