Overview
On July 17, 2026, President Bola Ahmed Tinubu, GCFR, issued the Presidential Executive Order on Virtual Assets Coordination, 2026, marking a significant policy shift towards a more coordinated and coherent regulatory framework for Nigeria's rapidly evolving virtual assets ecosystem.
The Executive Order seeks to harmonise the regulation of virtual assets, strengthen inter-agency cooperation, protect consumers, safeguard the integrity of the financial system, and support responsible innovation. To achieve these objectives, it establishes the Virtual Asset Council to coordinate regulatory oversight, facilitate information sharing, and promote a harmonised legal and institutional framework, while preserving the statutory mandates and independence of existing regulatory agencies.
In light of the above, this Banking & Finance Practice Insight examines the key details of the Executive Order and its implications for virtual asset service providers, including regulatory compliance, the regulatory sandbox, fiscal policy updates, and a practical framework for moving from reactive compliance to activity-based readiness.
