Tinubu Signs Executive Order to Coordinate Virtual Assets Regulation, Boost Investors’ Confidence

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.

The government believes this coordinated approach will close regulatory loopholes previously exploited by unregistered operators, making it more difficult for fraudulent platforms to operate outside official oversight.

As part of efforts to encourage responsible innovation, the CBN will also launch a regulatory sandbox where fintech companies and blockchain developers can test new products under regulatory supervision before introducing them to the wider market. Officials say the initiative will help balance innovation with financial stability, consumer protection and national economic interests.

In a related move, the Nigeria Revenue Service is expected to release a dedicated tax policy for virtual assets, providing certainty for businesses and investors while ensuring the fast-growing digital economy contributes fairly to government revenue needed for infrastructure, healthcare, education and other public services.

The Federal Government is also finalising a comprehensive Virtual Assets White Paper, expected to provide a long-term roadmap for Nigeria’s digital economy and strengthen the country’s position as one of Africa’s leading technology and fintech hubs.

The Executive Order is expected to reduce regulatory uncertainty, encourage investment and support job creation in the expanding digital economy for young entrepreneurs, fintech startups, blockchain innovators/transactions, trading platforms, etc. At the grassroots level, stronger oversight is also expected to build public trust, giving Nigerians greater confidence to participate in legitimate digital financial services while reducing their exposure to fraudulent schemes.

The newly established Virtual Asset Council has been directed to produce a Harmonised Implementation Framework within 30 days to guide participating agencies and ensure the swift implementation of the Executive Order.

SOURCE: Nigeria State House | Media & Publicity