For years, Nigeria’s crypto industry has operated without clear rules. That is gradually changing as the government introduces new measures to regulate cryptocurrencies and other virtual assets.
President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, a new directive that brings together key government agencies under a single framework to oversee the country’s rapidly growing digital asset industry. The order takes immediate effect and is aimed at improving regulatory coordination, protecting investors and supporting responsible innovation.
According to the Presidency, the executive order establishes a Virtual Asset Council that will coordinate policies and regulatory actions across agencies whose responsibilities increasingly intersect as digital assets continue to grow. The council will be chaired by the Central Bank of Nigeria (CBN), while the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) will serve as vice-chairs. Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).
The government said the new framework is designed to help different regulators work more closely together instead of handling crypto-related matters separately. Rather than creating a new regulator, the executive order is intended to improve coordination among existing agencies so that policies are more consistent and oversight is more effective.
Officials also said the order is expected to strengthen investor protection, combat fraud, improve anti-money laundering efforts and support responsible innovation across the virtual asset industry. The government believes a coordinated approach will make it easier to respond to emerging risks while giving legitimate businesses greater regulatory clarity.
The announcement builds on Nigeria’s recent efforts to formalise the digital asset industry. Earlier this year, the Investments and Securities Act (ISA) 2025 officially recognised virtual assets under Nigerian law and confirmed the SEC’s role as the primary regulator for many digital asset activities. The new executive order complements that legislation by creating a mechanism for agencies with different responsibilities to work together more effectively.
Nigeria remains one of the world’s largest cryptocurrency markets, driven by demand for cross-border payments, remittances and protection against naira volatility. However, the industry has also experienced years of regulatory uncertainty, with different government agencies issuing policies that sometimes appeared inconsistent. The latest executive order signals the government’s intention to create a more coordinated approach as the country’s digital asset market continues to expand.
For crypto exchanges, fintech companies and virtual asset service providers, the immediate impact of the order will depend on how the participating agencies implement the new framework. While the executive order does not introduce a new licensing regime, it lays the groundwork for more consistent policymaking and closer collaboration between financial regulators, tax authorities and security agencies as Nigeria continues to develop its digital asset ecosystem.