Tinubu Virtual Assets Executive Order: What It Means for Crypto Traders in Nigeria

• President Tinubu has signed the Virtual Assets Executive Order 2026. See what it means for crypto traders, exchanges, taxes, CBN, SEC and digital asset regulation in Nigeria.

President Bola Ahmed Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a new framework for regulating crypto and other digital assets in Nigeria.

The Executive Order, which took effect immediately, is aimed at coordinating the work of government agencies involved in the regulation of virtual assets, including the Central Bank of Nigeria, CBN, Securities and Exchange Commission, SEC, Nigeria Revenue Service, NRS, Nigerian Financial Intelligence Unit, NFIU, and the Office of the National Security Adviser, ONSA.

For crypto traders, exchanges, fintech companies and blockchain startups, the new order is important because it signals that Nigeria is moving toward clearer regulation rather than a complete ban.

What Are Virtual Assets?

Virtual assets include digital assets that can be traded, transferred or used electronically.

They may include:

• Bitcoin
• Ethereum
• Stablecoins
• Tokens
• Digital wallets
• Crypto custody services
• Blockchain-based payment products
• Tokenised investment products
• Other digital asset services

The government says virtual assets now cut across currencies, securities, commodities, money and payment systems, creating regulatory overlaps.

Why Tinubu Signed the Executive Order

According to the Presidency, the order was signed to address gaps in Nigeria’s crypto and digital asset regulation.

The government said the old system was fragmented, with different agencies working separately. This created room for fraud, money laundering, terrorism financing, cybersecurity threats, data privacy risks and revenue losses.

The new Executive Order is expected to:

• Protect Nigerians from fraudulent crypto operators
• Improve coordination among regulators
• Reduce money laundering risks
• Strengthen digital economy oversight
• Support responsible innovation
• Clarify which agency regulates each type of virtual asset activity

Virtual Asset Council Created

The Executive Order establishes a Virtual Asset Council.

The council will be chaired by the CBN, while the NRS and SEC will serve as vice-chairpersons.

Members include:

• Central Bank of Nigeria, CBN
• Nigeria Revenue Service, NRS
• Securities and Exchange Commission, SEC
• Nigerian Financial Intelligence Unit, NFIU
• Office of the National Security Adviser, ONSA

The council will provide policy direction and work with the Attorney-General of the Federation to develop a harmonised legal and institutional framework for virtual assets.

Virtual Asset Office Created

The order also creates a Virtual Asset Office, which will serve as the operational body of the council.

The office will be domiciled at the CBN and will coordinate:

• Information sharing
• Regulatory applications
• Reporting among agencies
• Supervisory technology platform
• Joint visibility for regulators

However, the Presidency said each agency will still control its own data and retain its legal powers.

Does This Mean Crypto Is Banned in Nigeria?

No. The Executive Order does not ban crypto.

Instead, it creates a coordinated regulatory system.

The Presidency made it clear that the order does not create a new regulator and does not remove the powers of existing agencies. It only helps the agencies work together.

This means crypto trading is not automatically illegal, but operators may face stricter registration, reporting and compliance requirements.

What It Means for Crypto Traders

For ordinary crypto traders in Nigeria, the Executive Order means:

1. Crypto platforms may face stronger registration rules.
2. Unregistered operators may be targeted.
3. Fraudulent investment schemes may face more scrutiny.
4. Crypto taxation rules may become clearer.
5. Traders may need to use properly regulated platforms.
6. Stablecoin, custody and payment services may come under CBN supervision.
7. Tokenised investments and securities-like assets may fall under SEC supervision.

Traders should be more careful with platforms that are not registered or cannot explain who regulates them.

SEC and CBN Roles Under the Order

The Executive Order separates regulatory responsibility based on the nature of the asset or service.

The SEC will handle virtual assets that look like securities or investment products.

The CBN will handle payment, settlement, custody and related services involving non-security virtual assets.

If there is confusion over which agency should regulate a product, the Virtual Asset Council will decide.

CBN Regulatory Sandbox for Crypto

The CBN is expected to proceed with a regulatory sandbox for virtual assets.

A sandbox allows eligible companies to test crypto, blockchain or digital asset products under supervision before they are released fully to the public.

This may benefit legitimate fintech and blockchain startups because they can test products in a controlled environment.

The CBN is expected to announce more details.

Crypto Tax Policy Coming

The Nigeria Revenue Service is also expected to release a tax policy for the virtual asset sector.

This does not yet mean a new tax has been announced in detail. It means the government wants to clarify how existing tax laws apply to crypto and digital assets.

Crypto traders, exchanges and service providers should expect more tax-reporting guidance soon.

Virtual Assets White Paper

The Federal Government is also finalising a Virtual Assets White Paper.

This document is expected to explain Nigeria’s long-term policy direction for digital assets, blockchain innovation, taxation, consumer protection and market supervision.

The Virtual Asset Council has been directed to develop a harmonised implementation framework within 30 days.

What Crypto Traders Should Do Now

Crypto traders in Nigeria should:

• Use reputable platforms.
• Avoid Ponzi-style crypto investments.
• Keep records of trades and transactions.
• Avoid platforms promising unrealistic returns.
• Watch for SEC, CBN and NRS updates.
• Do not send money to unknown “investment managers.”
• Confirm whether a platform is registered before using it.
• Prepare for clearer tax reporting rules.

Tinubu’s Virtual Assets Executive Order is a major step toward clearer crypto regulation in Nigeria.

It does not ban crypto trading. Instead, it creates a coordinated system involving the CBN, SEC, NRS, NFIU and ONSA to supervise the sector, protect users and reduce fraud.

For crypto traders, the message is clear: Nigeria’s digital asset market is becoming more regulated, and unregistered or fraudulent operators may face stronger action.