Tinubu Signs Executive Order to Harmonise Nigeria’s Virtual Assets Regulation

• President Bola Tinubu has signed an Executive Order creating a coordinated regulatory framework for virtual assets, bringing key financial, security and revenue agencies under a unified oversight structure.

• The new framework establishes a Virtual Assets Council chaired by the CBN to strengthen regulatory coordination, protect investors and close gaps exploited by fraudulent operators.

• The government will also launch a CBN regulatory sandbox, introduce a dedicated tax policy for virtual assets, and develop a national white paper to guide the sector’s growth.

July 17, () — President Bola Tinubu has signed an Executive Order establishing a coordinated regulatory framework for Nigeria’s virtual assets sector, marking a major step towards strengthening oversight of cryptocurrencies, blockchain-based services and other digital assets.

The Presidential Executive Order on Virtual Assets Coordination, 2026, which takes immediate effect, seeks to harmonise the activities of financial, revenue, capital market, and security agencies while preserving their existing statutory powers.

According to a statement issued by the Presidency, the initiative is designed to protect citizens from fraud, strengthen the integrity of Nigeria’s financial system and support responsible innovation in the fast-growing digital assets ecosystem.

Council to Coordinate Virtual Assets Oversight

The Presidency said the Executive Order addresses regulatory fragmentation that has emerged as virtual assets increasingly blur the lines between currencies, securities, commodities and payment systems.

To improve coordination, the Order establishes a Virtual Assets 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.

Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).

The Council will provide policy direction, coordinate regulatory activities, and work with the Attorney-General of the Federation to develop a harmonised legal framework for the sector.

The Presidency stressed that the Order does not create a new regulator or transfer statutory powers between agencies.

Instead, it provides a coordinated framework that enables existing regulators to work together while retaining their respective

CBN to Host New Virtual Assets Office

The Executive Order also creates a Virtual Assets Office, with its secretariat domiciled at the CBN.

The Office will coordinate information sharing, applications, and reporting among participating agencies through an integrated supervisory technology platform while allowing each institution to retain ownership of its data.

Under the framework, activities classified as securities will continue to be regulated by the SEC, while payment, settlement, custody and related services involving non-security virtual assets will remain under the CBN’s supervision.

Sandbox, Tax Policy to Support Innovation

As part of the new framework, the CBN will launch a regulatory sandbox that will allow eligible firms to test blockchain-based products and virtual asset services under close regulatory supervision before wider market deployment.

The Nigeria Revenue Service will also issue a dedicated tax policy for the sector to clarify the application of existing tax laws, improve compliance, and strengthen revenue collection.

The Federal Government disclosed that work is also nearing completion on a comprehensive Virtual Assets White Paper, which will outline Nigeria’s long-term policy direction for the industry.

The newly established Virtual Assets Council has been directed to develop a harmonised implementation framework within 30 days to guide participating agencies in executing the Executive Order.