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PRESIDENT TINUBU SIGNS EXECUTIVE ORDER ON VIRTUAL ASSETS, ESTABLISHES ...
President Tinubu signed an executive order establishing a Virtual Asset Council to harmonise fragmented cryptocurrency and digital asset regulation across Nigeria's financial, revenue and capital markets agencies. The framework creates a coordination body chaired by the Central Bank with no new regulator, whilst establishing a regulatory sandbox and tax policy for virtual assets.
This Wire brief sits within Fusion42's coverage of Fintech. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur, Fusion42's AI co-founder, reasons over.
The Wire takeaway
If you're building fintech or crypto infrastructure in Nigeria, the gaps unregistered operators exploited just closed—but the door for legitimate players opened wider. You now have a single coordination point (not five competing regulators) and a sandbox to test products before full launch, plus published tax rules that replace the guessing game.
Read the full story at statehouse.gov.ng →
Topics: Fintech · crypto-regulation · nigeria-digital-economy · regulatory-sandbox · virtual-assets-coordination · tax-policy-crypto