Tinubu Signs Executive Order on Virtual Assets, Establishes Council with CBN as Chairman
The order sets up a council led by the Central Bank of Nigeria to coordinate oversight and close gaps exploited by unregistered operators.
- On Friday, July 17, 2026, President Bola Ahmed Tinubu signed the Presidential Executive Order on Virtual Assets Coordination to harmonize regulation, protect citizens from fraud, and enable responsible innovation. The order takes effect immediately.
- Fragmented oversight previously left Nigeria exposed to risks like money laundering and fraud, as unregistered operators exploited gaps to prey on unsuspecting Nigerians, costing families their savings. This regulatory fragmentation created opportunities for fraudulent activity.
- The Order establishes a Virtual Asset Council chaired by the Central Bank of Nigeria, with the Council directed to develop a Harmonised Implementation Framework within 30 days to guide participating agencies. The order does not create a new regulator or transfer existing powers.
- Securities activities will be registered by the Securities and Exchange Commission , while the Nigerian Revenue Service will release a tax policy for the virtual assets sector. These measures ensure the sector contributes fairly to national revenue.
- The CBN is proceeding with a regulatory sandbox allowing eligible operators to test virtual asset products under close supervision before reaching the wider market. The Virtual Asset Office will support day-to-day coordination among participating agencies.
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Tinubu signs executive order on virtual assets, establishes council with CBN as chairman
President Bola Ahmed Tinubu has signed an executive order on Virtual Assets Coordination, 2026.In a statement, Tinubu’s media office on Friday said the executive order would strengthen cooperation among the nation’s financial, revenue, and capital markets agencies and protect citizens from fraud in the digital ecosystem. Tinubu said the order, which takes effect immediately, is […] Tinubu signs executive order on virtual assets, establishes coun…
Tinubu signs executive order to harmonise virtual assets regulation, establishes council
President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, aimed at harmonising the regulation of virtual assets, strengthening oversight and promoting responsible innovation in Nigeria’s digital economy. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this on Friday in a statement shared on his […] The post Tinubu signs executive order to harmonise virt…
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It responds to a regulatory environment that has become fragmented as virtual assets increasingly blur the traditional boundaries between currencies, money, commodities and securities. The post Tinubu signs Executive Order to regulate virtual assets, establish Virtual Asset Council appeared first on Premium Times Nigeria.
Tinubu Establishes CBN-Led Council To Coordinate Crypto Oversight
President Bola Tinubu has signed an executive order creating a central coordination structure for Nigeria’s virtual asset industry, placing the Central Bank of Nigeria (CBN) at the head of a council involving the country’s financial, tax and security authorities. The Presidential Executive Order on Virtual Assets Coordination 2026 took effect immediately after it was signed […] The post Tinubu Establishes CBN-Led Council to Coordinate Crypto Ove…
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