President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to harmonise the regulation of virtual assets and strengthen oversight of Nigeria’s digital economy.
The President signed the Order pursuant to Section 5 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).
The Executive Order takes effect immediately.
According to the Presidency, the Order addresses a fragmented regulatory environment where virtual assets have blurred traditional boundaries between currencies, money, commodities and securities.
It noted that with agencies operating in silos, the country has been exposed to risks including money laundering, terrorism financing, cybersecurity and data privacy threats, fraud, and revenue losses. The Order is designed to close these gaps through supervisory coordination, without creating new layers of regulation or displacing the mandates of existing agencies.
The Order establishes a Virtual Asset Council to provide policy direction and promote synergy among regulatory 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, as vice-chairs. Other members include the Nigerian Financial Intelligence Unit, NFIU, and the Office of the National Security Adviser, ONSA.
The Council will work with the Attorney-General of the Federation to develop a harmonised legal and institutional framework that aligns the sector with Nigeria’s national security, economic and social objectives.
The Order also establishes a Virtual Asset Office as the Council’s operational body. The secretariat will be domiciled at the CBN.
The Office will coordinate information sharing, applications, and reporting among the agencies, supported by an integrated supervisory technology platform that provides shared visibility while preserving each agency’s ownership and control of its data.
The Order does not create a new regulator or transfer powers between agencies. Each institution retains its statutory mandate and independence.
Registration will follow the nature of the activity and the asset:
– SEC will register activities involving securities
– CBN will register payment, settlement, custody and related services involving non-security virtual assets
The Council will resolve cases where responsibility cannot be readily determined.
As part of the coordinated approach, the CBN will proceed with a regulatory sandbox for virtual assets. The sandbox will provide a controlled environment for eligible operators to test virtual asset products, services, and blockchain-based solutions under supervision. The CBN will announce further details.
The NRS will also release a tax policy for the virtual assets sector.
The policy is intended to operationalise existing tax laws as they apply to virtual assets, strengthen voluntary compliance, and ensure the sector contributes fairly to national revenue. The NRS will provide further details.
The Federal Government is also finalising a comprehensive Virtual Assets White Paper, which will set out the country’s longer-term policy direction and implementation priorities.
The Council has been directed to develop a Harmonised Implementation Framework within 30 days to guide participating agencies in giving effect to the Order and ensure its expedited implementation.
