The Central Bank of Nigeria has issued the "Regulations for Non-Securities Virtual Asset Operations," requiring foreign currency stablecoin issuers to maintain a minimum paid-in capital of 15 billion naira, and P2P transactions must verify BVN.

PANews November 6 news: According to the "Regulations for the Operations of Non-Security Virtual Assets in Nigeria" (November 5, 2026) issued by the Central Bank of Nigeria (CBN), the CBN will regulate non-security virtual assets and stablecoins used for payment, settlement, and remittance purposes, while securities-related assets will remain under the Securities and Exchange Commission (SEC).

PANews November 6 news: According to the Regulations for the Operations of Non-Security Virtual Assets in Nigeria issued by the Central Bank of Nigeria (CBN) (November 5, 2026), the CBN will regulate non-security virtual assets and stablecoins used for payment, settlement, and remittance purposes, while securities-related assets will remain under the Securities and Exchange Commission (SEC). Foreign currency-pegged stablecoins (Class 2) must be issued by locally licensed entities in Nigeria, with a minimum paid-in capital of 15 billion naira (approximately US$11.16 million); naira-pegged Class 1 issuers require 10 billion naira; entities providing other non-security virtual asset services must additionally have at least 1 billion naira in capital, and those already holding SEC licenses may not double-count capital requirements with those of the CBN. Platform-facilitated P2P business must obtain special CBN approval and verify that the naira payment and receipt account name matches the Bank Verification Number (BVN) before releasing or crediting regulated tokens. Categories such as algorithmic stablecoins are prohibited, and the division of responsibilities between the CBN and SEC is delineated.