Nigeria's central bank issues stablecoin and virtual asset regulations

Also in the source

• A Deposit Money Token is a token issued by a CBN-licensed bank that represents a direct claim on that bank and corresponds to an existing naira deposit liability; a bank may issue a stablecoin only through a separately incorporated Class 1 or Class 2 licensed issuer subsidiary.
• Existing operators must apply for a licence or authorisation within 180 calendar days of commencement and register with the Bank within thirty days.
• (Regulatory text in English.)

Who is affected

Issuers of naira-referenced and foreign-currency stablecoins, virtual asset service providers and platforms operating in or into Nigeria, and deposit money banks that issue Deposit Money Tokens, act as reserve custodians or extend their activities to virtual asset payments.

Key dates

• 6 Nov 2026CBN regulations published on the CBN website (document dated November 2026)

What remains uncertain

• The document states only 'November 2026'; it says the commencement date is to be specified in the issuing instrument, and that instrument is not part of the document read, so the 180-day and 30-day transition periods cannot be turned into calendar dates.
• Capital figures are as published in naira; no foreign-currency equivalents are given in the source.

Key facts

Event

Regulations published

Jurisdiction

Africa

Source

Central Bank of Nigeria

Source tier

Tier 1 · Regulator / central bank

Product

Stablecoins, Tokenized deposits

In the database

• BCV
• bunq
• Zand
• Nigeria

Institutions

Central Bank of Nigeria

The source says

“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.”

Verbatim from Central Bank of Nigeria, matched word for word against the live page on 6 November 2026.

Sources

• PrimaryCentral Bank of Nigeria ↗2026-11-06T1Regulator