Nigeria’s president, Bola Ahmed Tinubu, has signed an executive order aimed at bringing greater coordination to the country’s virtual asset sector.
The order, announced in a statement by presidential spokesperson Bayo Onanuga, seeks to harmonise the regulation of virtual assets, protect citizens from fraud, and strengthen cooperation among financial, revenue and capital markets agencies. It comes as virtual assets continue to grow in popularity among Nigerians despite years of shifting regulatory positions.
The executive order establishes a Virtual Asset Council tasked with providing policy direction and promoting cooperation among participating agencies. The council will be 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. The Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA) will also sit on the council.
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Last updated: July 17, 2026
