From 5 November 2026, the Central Bank of Nigeria will require a licence from stablecoin issuers and providers using digital assets for payments. The framework also covers foreign companies targeting Nigerian users, which must be locally incorporated to issue stablecoins linked to a foreign currency. The central bank bans algorithmic stablecoins and those primarily backed by other cryptocurrencies, while requiring separate approval for each token. Existing operators must register within 30 days, submit their licence applications within 180 days and immediately comply with anti-money-laundering and transaction-monitoring requirements.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
