President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, establishing a coordinated regulatory framework for Nigeria’s virtual assets ecosystem.
The Executive Order, which takes immediate effect, is aimed at harmonising the regulation of virtual assets, strengthening cooperation among financial, revenue and capital market regulators, protecting citizens from fraud and supporting responsible innovation in the digital economy.
According to the Presidency, the Order addresses gaps created by the rapid growth of virtual assets, which have increasingly blurred the boundaries between currencies, commodities and securities, exposing the financial system to risks such as money laundering, terrorism financing, cyber threats, fraud and revenue losses.
To improve coordination, the Order 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-chairmen. Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).
The Council will provide policy direction, strengthen collaboration among regulatory agencies and work towards developing a harmonised legal and institutional framework that aligns the virtual assets sector with Nigeria’s national security and economic objectives.
The Order also creates a Virtual Asset Office, domiciled at the CBN, to coordinate information sharing, applications and regulatory reporting among participating agencies through an integrated supervisory technology platform.
The Presidency clarified that the Executive Order does not establish a new regulator or remove the statutory powers of existing agencies. Instead, it provides a framework for coordinated oversight while preserving the independence of each institution.
As part of the initiative, the Central Bank of Nigeria will implement a regulatory sandbox to allow eligible operators to test virtual asset products and blockchain-based innovations under close supervision before they are introduced into the wider market.
The Federal Government said the new framework is expected to strengthen investor protection, improve regulatory certainty, combat illicit financial activities and support the responsible growth of Nigeria’s digital economy under the Renewed Hope Agenda.
