TDPresident Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, establishing a new framework to harmonise the regulation of virtual assets in Nigeria while strengthening oversight, protecting investors, and promoting responsible innovation in the digital economy.
The Executive Order, signed pursuant to Section 5 of the 1999 Constitution (as amended), takes immediate effect.
It aims to improve coordination among key financial, revenue, and capital market regulators without creating a new regulatory agency or altering the statutory powers of existing institutions.
According to a State House statement issued on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Order addresses growing regulatory challenges as virtual assets increasingly overlap with currencies, securities, commodities, and payment systems.
The Presidency said fragmented oversight had exposed Nigeria to risks including money laundering, terrorism financing, cybersecurity and data privacy threats, fraud, and revenue losses.
It noted that regulatory gaps had allowed unregistered and fraudulent operators to exploit unsuspecting Nigerians, resulting in significant financial losses.
To strengthen coordination, the Executive Order establishes a Virtual Asset Council, chaired by the Central Bank of Nigeria (CBN), with the Nigerian Revenue Service (NRS) and the Securities and Exchange Commission (SEC) serving as vice-chairpersons. Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).
The Council will provide policy direction, enhance inter-agency collaboration, and work with the Attorney-General of the Federation to develop a harmonised legal and institutional framework aligned with Nigeria’s economic, security, and social objectives.
The Order also creates a Virtual Asset Office, which will serve as the Council’s operational arm.
Based at the CBN, the office will coordinate information sharing, regulatory applications, and reporting among participating agencies through an integrated supervisory technology platform while allowing each institution to retain control of its own data.
The Presidency emphasised that the Executive Order does not establish a new regulator or transfer authority between agencies.
Instead, regulatory responsibilities will continue to depend on the nature of the asset or activity involved.
The SEC will oversee virtual assets classified as securities, while the CBN will regulate payment, settlement, custody, and other services involving non-security virtual assets.
Any jurisdictional disputes will be resolved by the Council.
As part of the new framework, the Central Bank of Nigeria will launch a regulatory sandbox that will allow eligible operators to test virtual asset products, blockchain solutions, and related services under close regulatory supervision before wider market deployment.
The Federal Government said the initiative would help regulators assess the implications of emerging technologies for monetary policy, financial stability, consumer protection, financial inclusion, market integrity, and revenue administration.
In addition, the Nigerian Revenue Service will publish a dedicated tax policy for the virtual assets sector, providing greater certainty on the application of Nigeria’s tax laws to digital assets and strengthening voluntary tax compliance.
The Federal Government also disclosed that it is finalising a comprehensive Virtual Assets White Paper, which will outline Nigeria’s long-term policy direction and implementation priorities for the sector.
President Tinubu has directed the newly established Virtual Asset Council to develop a Harmonised Implementation Framework within 30 days to ensure the swift and coordinated implementation of the Executive Order.
The announcement was contained in a State House statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, dated July 17, 2026.
