President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, aimed at creating a unified framework for regulating virtual assets in Nigeria.
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‎The order, which takes immediate effect, is designed to improve cooperation among financial, revenue and capital market institutions, protect Nigerians from fraud, strengthen the financial system and promote responsible innovation in the virtual assets sector.
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‎According to a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the directive will not establish a new regulator but will harmonise the roles of existing agencies, including the Central Bank of Nigeria, Securities and Exchange Commission, Nigeria Revenue Service, Nigerian Financial Intelligence Unit and the Office of the National Security Adviser.
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‎The Executive Order establishes a Virtual Asset Council chaired by the CBN, with the NRS and SEC as vice-chairpersons, while a Virtual Asset Office will be created at the CBN to coordinate operations, information sharing and supervision.
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‎The government says the new framework will address regulatory gaps linked to virtual assets, tackle risks such as money laundering, cyber threats and fraud, and provide clearer guidelines for operators. The CBN will also introduce a regulatory sandbox to allow approved innovators test blockchain-based products under supervision.
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‎The Virtual Asset Council has been given 30 days to develop an implementation framework, while the Nigeria Revenue Service is expected to introduce a tax policy for the sector.