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Nigeria

Nigeria sets N15bn capital floor for foreign currency stablecoin issuers

The central bank's new rules raise entry costs and tighten identity checks for crypto platforms, a shift that could affect firms planning to operate in Nigeria's digital asset market.

Photo: The Trumpet Newspaper Nigeria

What happened

The Central Bank of Nigeria has introduced regulations for non-security virtual assets that set a minimum paid-up capital of 15 billion naira for issuers of foreign currency-referenced stablecoins. allafrica.com+3 The regulations, issued on November 5, 2026, took effect on that date. allafrica.com+2 Stablecoin issuers must be Nigerian-incorporated entities holding a valid CBN licence, with a staffed physical office and effective local management. allafrica.com Peer-to-peer crypto platforms need specific CBN approval and must link traders' identities to bank accounts through identity verification. allafrica.com+2 Operators must also comply with anti-money laundering and counter terrorist financing measures, transaction monitoring, sanctions screening and the travel rule. bavijas.substack.com

Around it

Naira-dominated token issuers face a minimum capital requirement of 10 billion naira. allafrica.com+2 Industry stakeholders warned that the N15 billion requirement may shut out smaller indigenous fintech companies, while acknowledging it would strengthen accountability and public confidence. New National Star The CBN has said the rules provide for its oversight role and do not override the responsibilities of the Securities and Exchange Commission and other relevant authorities. bavijas.substack.com

Sources

  1. allafrica.comWest Africa: Nigeria Sets N15b Capital Requirement for Foreign Stablecoin Issuers
  2. bavijas.substack.comNew regulations for crypto operators, as Zenith Bank awards N190m prize for tech innovation
  3. New National StarCBN’s N15bn Capital Rule May Shut Out Small Stablecoin Operators
  4. The Trumpet Newspaper NigeriaCBN Stablecoin Rules Explained: ₦10bn Capital, Reserves, Redemption and BVN Checks for P2P Platforms
  5. Brand SpurCBN Sets N15bn Capital Requirement for Stablecoin Issuers, Tightens P2P Crypto Trading Rules

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