🔥 Trending Tinubu Signs Executive Order to Regulate Virtual Assets

President Bola Ahmed Tinubu recently signed a Presidential Executive Order on Virtual Assets Coordination, 2026, aimed at harmonizing the regulation of virtual assets in Nigeria ¹²³. This order, which took immediate effect, seeks to create a coordinated regulatory framework for the country's rapidly growing digital economy ³⁵.

Key Aspects of the Executive Order

The executive order addresses several critical areas concerning virtual assets and the digital economy:

• Harmonization of Regulation: The primary goal is to bring consistency and clarity to the regulatory landscape for virtual assets ¹³. This is crucial for an industry that often operates across various sectors and requires a unified approach.
• Establishment of a Regulatory Council: The order creates a new council to strengthen the oversight of Nigeria's digital economy. This council will play a pivotal role in coordinating efforts among different agencies ⁴⁵.
• Involvement of Key Institutions: The Central Bank of Nigeria (CBN) and the Nigeria Revenue Service (NRS) are among the key institutions that will be involved in this coordinated regulatory framework ⁴. Their participation is expected to ensure comprehensive oversight from financial and taxation perspectives.
• Protection Against Fraud and Financial Crimes: A significant objective of the order is to protect Nigerian citizens from fraud and financial crimes within the virtual asset space ⁵⁶. This includes safeguarding against risks inherent in digital transactions.
• Strengthening Cooperation: The order aims to enhance cooperation among national stakeholders to effectively manage and regulate virtual assets ¹. This collaborative approach is intended to foster a more secure and stable digital environment.

Context and Significance

The signing of this executive order reflects Nigeria's commitment to adapting to the evolving global digital landscape. By establishing a clear regulatory framework, the government aims to foster innovation while mitigating risks associated with virtual assets. This move is particularly significant given the increasing adoption of cryptocurrencies and other digital assets in the country ²⁴.

The executive order was signed pursuant to Section 5 of the 1999 Constitution (as amended) ². The Special Adviser to the President (Information & Strategy), Bayo Onanuga, confirmed the immediate effect of the order in a statement on Friday, July 17, 2026 ³. This initiative is expected to provide much-needed clarity and stability for investors and participants in Nigeria's virtual asset market.