President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a unified regulatory framework for Nigeria’s virtual asset sector to strengthen oversight, curb fraud and promote responsible innovation.
The Executive Order, which takes immediate effect, is aimed at improving coordination among key financial, revenue and capital market regulators while addressing emerging risks associated with digital assets.
According to a statement issued by the Presidency, the new framework responds to growing concerns over fragmented regulation that has exposed the country to money laundering, terrorism financing, cyber threats, fraud and revenue leakages.
The government said the Order is designed to improve collaboration among regulatory agencies without creating a new regulator or altering the statutory responsibilities of existing institutions.
To drive implementation, 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-chairpersons.
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 virtual asset industry.
An operational Virtual Asset Office will also be created within the CBN to oversee day-to-day coordination, facilitate information sharing among participating agencies and manage an integrated supervisory technology platform.
Under the new arrangement, registration of virtual asset operators will depend on the nature of their services. Activities involving securities will fall under the SEC, while payment, settlement, custody and related services involving non-security digital assets will be regulated by the CBN.
The Presidency also announced that the CBN will introduce a regulatory sandbox to allow eligible operators test virtual asset products and blockchain-based solutions under close regulatory supervision before they are introduced to the wider market.
In addition, the Nigeria Revenue Service is expected to unveil a tax policy for virtual assets to provide clarity for taxpayers, improve compliance and ensure the expanding sector contributes to national revenue.
The Federal Government also disclosed that work is nearing completion on a comprehensive Virtual Assets White Paper, which will outline Nigeria’s long-term policy direction for the sector.
To ensure speedy implementation, the newly established Virtual Asset Council has been directed to develop a harmonised implementation framework within 30 days.
