The Central Bank of Nigeria (CBN) has set a minimal paid-up capital of N15 billion for issuers of foreign currency-backed stablecoins in search of to function in Nigeria, whereas introducing stricter approval and id verification necessities for platform-facilitated peer-to-peer (P2P) cryptocurrency transactions.
The necessities are contained within the apex financial institution’s Regulations for the Operations of Non-Security Virtual Assets in Nigeria, issued on November 5, 2026.
The framework establishes licensing, capital, governance and operational necessities for stablecoin issuers and different digital asset service suppliers working inside its regulatory scope.
Under the brand new rules, foreign currency-referenced stablecoins, categorized as Class 2 stablecoins, can solely be issued by a Nigerian-incorporated entity holding a legitimate CBN licence. The issuer should keep a staffed bodily workplace in Nigeria, efficient native administration and the capability to satisfy the regulator’s supervisory necessities.
More particulars later.
