President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a unified framework to regulate Nigeria’s rapidly growing digital assets sector while strengthening consumer protection, financial security and investor confidence.
The Executive Order, signed pursuant to Section 5 of the 1999 Constitution (as amended), takes immediate effect and is aimed at addressing long-standing gaps in the regulation of cryptocurrencies, blockchain-based services and other virtual assets.
Government officials say the new framework is designed to protect ordinary Nigerians from fraudulent operators, curb financial crimes such as money laundering and terrorism financing, improve tax compliance, and create a more predictable environment for businesses and investors without creating an additional regulatory agency. As for many Nigerians who increasingly use digital assets for investment, cross-border transactions and business, the policy is expected to provide clearer rules, greater transparency and stronger safeguards against scams that have left many families with significant financial losses in recent years.
AT the core of the Executive Order, is the establishment of 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-chairs. Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).
The Council will coordinate policy among government agencies, eliminate overlapping responsibilities and work with the Attorney-General of the Federation to develop a harmonised legal framework that aligns virtual assets regulation with Nigeria’s economic, security and development priorities.
An operational Virtual Asset Office, to be headquartered at the CBN, will oversee information sharing, registration processes and inter-agency coordination through a shared supervisory technology platform, allowing regulators to collaborate while maintaining their statutory independence.
Importantly, the Executive Order does not establish a new regulator or strip existing agencies of their powers. Instead, responsibilities will continue to be assigned based on the nature of each digital asset activity. The SEC will regulate virtual assets classified as securities, while the CBN will oversee payment, settlement, custody and other non-security-related virtual asset services.
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