President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to harmonise the regulation of virtual assets and strengthen cooperation among Nigeria’s financial, revenue and capital market agencies. The Executive Order is aimed at protecting citizens from fraud, curbing money laundering, terrorism financing, cyber threats and revenue losses, while supporting responsible […]
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President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to harmonise the regulation of virtual assets and strengthen cooperation among Nigeria’s financial, revenue and capital market agencies.
The Executive Order is aimed at protecting citizens from fraud, curbing money laundering, terrorism financing, cyber threats and revenue losses, while supporting responsible innovation in the virtual asset sector.
The Order establishes a Virtual Asset Council, chaired by the Central Bank of Nigeria, to coordinate policy direction and strengthen collaboration among key regulatory and security agencies without creating a new regulator.
It also creates a Virtual Asset Office at the Central Bank to coordinate information sharing, registration and reporting through an integrated supervisory platform.
The Presidency says the framework closes regulatory gaps that have allowed fraudulent operators to exploit Nigerians, while ensuring existing agencies retain their statutory powers.
As part of the reforms, the Central Bank will launch a regulatory sandbox for virtual asset products, while the Nigeria Revenue Service is expected to introduce a tax policy for the sector. A harmonised implementation framework is to be developed within 30 days.
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