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

President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a coordinated regulatory framework for Nigeria’s rapidly expanding virtual asset sector.

The Executive Order, which took effect immediately upon signing, is designed to improve cooperation among government agencies responsible for financial regulation, revenue collection, capital markets and financial intelligence.

The measure was signed pursuant to Section 5 of the 1999 Constitution, as amended, according to details released on Friday, July 17, 2026.

The new framework seeks to address regulatory overlaps and gaps that have emerged as digital assets increasingly operate across traditional boundaries associated with currencies, money, commodities and securities.

Under the arrangement, the government intends to strengthen collaboration among relevant institutions rather than create an entirely new standalone regulator for the sector. Existing agencies are expected to retain their statutory responsibilities while working within a more coordinated oversight structure.

The policy is also aimed at protecting Nigerians from fraud and other risks associated with virtual assets, while strengthening safeguards against money laundering, terrorism financing, cyber threats, data privacy violations and potential revenue leakages.

The Executive Order further provides for the establishment of a Virtual Asset Council to enhance coordination among key institutions involved in regulating and monitoring the sector. Reports indicate that the council will bring together agencies including the Central Bank of Nigeria, the Securities and Exchange Commission, the Nigeria Revenue Service, the Nigerian Financial Intelligence Unit and the Office of the National Security Adviser.

The framework also envisages measures to encourage responsible innovation in the digital economy, including a regulatory sandbox through which emerging virtual asset-related products and services can be tested within a controlled environment.

The development comes against the backdrop of Nigeria’s growing engagement with cryptocurrency and other digital assets. The Securities and Exchange Commission has previously established a regulatory framework for digital assets that fall within the scope of securities regulation, while financial intelligence authorities have continued to focus on the risks posed by virtual assets to the country’s anti-money laundering and counter-terrorism financing regime.

The latest Executive Order therefore represents a further effort by the Tinubu administration to bring greater coordination to the sector, balancing financial-system safeguards and consumer protection with the government’s broader ambition to support innovation and the growth of Nigeria’s digital economy.

The Presidency’s position, as reported by the Voice of Nigeria and other outlets, is that the new framework is intended to provide clearer coordination among existing regulators without undermining their respective legal mandates.