President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to harmonise the regulation of virtual assets, strengthen oversight and promote responsible innovation in Nigeria’s digital economy.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, announced the development on Friday, stating that the Executive Order takes immediate effect.
According to the Presidency, the order was issued under Section 5 of the 1999 Constitution (as amended) to address regulatory gaps arising from the rapid growth of virtual assets, which span traditional classifications such as currencies, money, commodities and securities.
The government said fragmented oversight among relevant agencies had exposed Nigeria to risks including money laundering, terrorism financing, cybersecurity threats, fraud and revenue losses.
It noted that the new framework is intended to protect citizens from fraudulent operators while creating an environment that supports legitimate digital asset innovation.
The Executive Order establishes a Virtual Asset Council to be chaired by the Central Bank of Nigeria (CBN), while the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) will serve as vice-chairs.
Other members of the council include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).
According to the Presidency, the council will provide policy direction, promote cooperation among participating agencies and work with the Attorney-General of the Federation to develop a harmonised legal and institutional framework for the virtual asset sector.
The order also establishes a Virtual Asset Office, which will serve as the operational arm of the council, with its secretariat located at the Central Bank of Nigeria.
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 its statutory powers and control over its data.
The Presidency emphasised that the Executive Order does not create a new regulator or transfer powers from existing agencies but instead provides a coordination mechanism to improve regulatory efficiency.
