President Bola Tinubu has signed a landmark executive order aimed at harmonising Nigeria’s virtual assets regulation, a move widely seen as a decisive step toward strengthening the country’s digital finance ecosystem. The order establishes a Central Bank of Nigeria (CBN)-led council to oversee the framework, ensuring that the fast-growing sector is properly guided under a unified regulatory structure.
The new directive comes at a time when Nigeria is positioning itself as a hub for digital innovation across Africa. By streamlining policies around virtual assets, the government hopes to attract investment, boost financial inclusion, and provide clarity for operators in the fintech space. Analysts say the order signals Tinubu’s commitment to modernising Nigeria’s economy through technology-driven reforms.
Industry stakeholders have welcomed the development, noting that the absence of a clear regulatory environment has long posed challenges for businesses in the sector. With the CBN at the helm of the newly established council, expectations are high that the framework will balance innovation with consumer protection, while also curbing risks associated with digital transactions.
The executive order also underscores Nigeria’s determination to align with global best practices in virtual asset regulation. Observers believe the move could enhance Nigeria’s credibility in international financial markets, while creating opportunities for homegrown startups to thrive under a more predictable policy environment.
As the digital economy continues to expand, the Tinubu administration’s intervention is expected to set the tone for future reforms in Nigeria’s financial technology landscape. The success of the initiative, however, will depend on effective implementation and collaboration between regulators, industry players, and other stakeholders.