Nigeria’s central bank now requires dollar-pegged stablecoins offered to retail customers to be issued by a licensed Nigerian entity and to receive prior token approval. The rules, effective November 5, 2026, provide a 180-day transition for existing operators, who may continue serving the market at their current scale only with express interim permission from the CBN. Applicants must establish a staffed Nigerian office, effective local management and a resident chief compliance officer, while anti-money-laundering requirements apply immediately. A narrow exception allows the CBN to recognize a foreign-issued stablecoin for expressly approved wholesale cross-border settlements, but excludes retail offerings in Nigeria.
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