Evidence record
Central Bank of Nigeria publishes Regulations for the Operations of Non-Security Virtual Assets: licensing for naira and foreign-currency stablecoin issuers, full reserves plus a 2% buffer, a ban on algorithmic stablecoins and a deposit money token regime for banks
Read the item · published 2026-11-06
Evidence
- Confidence
- High Primary source (regulator / official record); quote string-matched against the live page.
- Quote verified
- 2026-11-06 12:14 UTC
- Archived snapshot
- SHA-256
a9955b3767be445577f5a2aa0f3b0ad2c6f13eb3992959fa61decffec2d016c4· fetched 2026-11-06 · Wayback Machine copy ↗ - Source type
- Primary Central Bank of Nigeria ↗
… Capital Requirements for Class 1 and Class 2 Licensed Issuers 15.1 A Class 1 Licensed Issuer shall maintain paid-up capital of ten billion Naira (₦10,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter. 15.2 A Class 2 Licensed Issuer shall maintain minimum paid-up capital of fifteen billion Naira (₦15,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter. 15.3 Both classes shall comply with the capital deposit and corresponding evidence and supplementary requirements in Section 17. There is no offshore issuer exemption from incorporation, licensing or capital. Section 16 Capital Requirements for Othe …
Change log (1)
- 2026-11-06 Published
Verified quotes
“A Class 2 Licensed Issuer shall maintain minimum paid-up capital of fifteen billion Naira (₦15,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter.”
“A Class 1 Licensed Issuer shall maintain paid-up capital of ten billion Naira (₦10,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter.”
“A Licensed Issuer shall maintain overcollateralisation of not less than two per cent (2%) of the par value of stablecoins in circulation, to absorb valuation losses on reserve assets and accrued operational liabilities.”
“There is no offshore issuer exemption from incorporation, licensing or capital.”
“A DMT shall rank as a deposit claim against its Issuing Bank under applicable banking and insolvency law.”
String-matched against https://www.cbn.gov.ng/Out/2026/CCD/REGULATIONS%20FOR%20THE%20OPERATIONS%20OF%20NON-SECURITY%20VIRTUAL%20ASSETS%20IN%20NIGERIA.pdf by our verifier before every deploy.
AI-drafted from the primary source; quote string-matched against the live source page · AI-assisted