Worldview Advisory
Nigeria

Central Bank of Nigeria sets stablecoin licensing rules and capital floors

New rules bring stablecoin issuers, wallets and P2P platforms serving Nigerians under licensing, capital and reserve requirements, affecting foreign firms too.

Photo: Naija News

What happened

The Central Bank of Nigeria issued a circular dated November 5, 2026, and accompanying regulations for non-security virtual assets, which took effect that day. TradingView+4 Issuers of naira-backed stablecoins must hold at least N10 billion in paid-up capital, while issuers of foreign-currency-backed stablecoins must hold at least N15 billion. Brand Spur+3 The regulations name issuers, foreign issuers, distributors, exchanges, wallet providers, custodians, payment providers and P2P platforms, each of which needs the appropriate licence or authorization. TechSocial The rules apply to any provider carrying out a regulated activity for people in Nigeria, whether or not it has a physical presence in the country. TechSocial The regulations ban algorithmic stablecoins and prohibit issuers from paying interest on coins people hold. TechSocial

Around it

The framework requires platforms to strengthen identity verification for users, and directs virtual asset providers to identify customers running P2P trading businesses, apply stricter checks and transaction limits, and report them to the bank. Brand Spur+1 The central bank said the framework is designed to address concerns around financial stability, monetary policy, foreign exchange management, money laundering and consumer protection. Independent Newspaper Nigeria Foreign-currency stablecoin issuers must establish Nigerian-incorporated entities and secure local licences, and P2P naira-dollar conversions are subject to foreign exchange approval. thisdaylive.com

Sources

  1. TradingViewNigeria Sets New Stablecoin Licensing Rules and Capital Requirements
  2. Brand SpurCBN Sets N15bn Capital Requirement for Stablecoin Issuers, Tightens P2P Crypto Trading Rules
  3. Naija NewsCBN Introduces New Rules For Stablecoin Operators
  4. thisdaylive.comCBN Tightens Stablecoin Rules, Sets N15bn Capital Floor for Dollar Tokens
  5. TechSocialCBN's new stablecoin rules mean your crypto app needs a Nigerian licence
  6. Independent Newspaper NigeriaCBN Tightens Grip On Crypto Market, Sets N15bn Capital For Dollar Stablecoin Issuers

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