President Bola Ahmed Tinubu has approved the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a unified framework aimed at improving the regulation of virtual assets and enhancing oversight of Nigeria’s expanding digital economy.
The Executive Order, issued under the powers granted by Section 5 of the 1999 Constitution (as amended), became effective immediately after it was signed.
This was disclosed in a statement released on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
According to the statement, the new directive is designed to eliminate the fragmented approach to regulating virtual assets by fostering stronger collaboration among financial, revenue and capital market regulators. It is also intended to safeguard citizens against fraud while encouraging responsible innovation within the digital asset ecosystem.
The statement explained that the increasing convergence of virtual assets, digital currencies, commodities and securities has widened regulatory gaps, leaving the country vulnerable to money laundering, terrorism financing, cybercrime, data privacy breaches, fraud and significant revenue losses.
As part of the new framework, the Executive Order establishes a Virtual Asset Council to oversee coordination across the sector. The Central Bank of Nigeria (CBN) will chair the council, while the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) will serve as vice-chairmen.
Membership of the council also includes the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).
The statement added that the council will be responsible for providing policy guidance, strengthening inter-agency cooperation and collaborating with the Attorney-General of the Federation to develop a harmonised legal and institutional framework for regulating virtual assets in Nigeria.
In addition, the Executive Order creates a Virtual Asset Office within the CBN to function as the council’s operational secretariat. The office will coordinate information sharing, process applications and manage reporting among participating agencies through an integrated supervisory technology platform.
The newly inaugurated council has also been directed to produce a Harmonised Implementation Framework within 30 days to ensure the smooth execution of the Executive Order.
