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Wire · founder news, decoded · regulatory

Nigeria issues virtual assets directive

Published

20 July 2026

Topic

regulatory

Sectors

Fintech

Geography

Nigeria

Source

Read at africanlawbusiness.com

Verified

Fusion42 · 20 July 2026 · Fusion42 review

Nigeria's President Tinubu signed an executive order establishing a Virtual Asset Council to coordinate crypto regulation across the Central Bank, tax authority, securities regulator, and financial intelligence unit, aiming to harmonise rules, reduce fraud, and encourage innovation.

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 reasons over.

The Wire takeaway

If you're building fintech in West Africa, Nigeria just stopped the fragmentation that was letting you skate between regulators. You now need a single registration across tax, banking, and securities - the compliance cost just went up, but so did your moat against unregulated competition.

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Topics

Fintech · crypto-regulation · nigeria · africa · regulatory-coordination · virtual-assets · aml-kyc