In a major shift signalling a new era for digital finance, the federal government of Nigeria has fully embraced cryptocurrencies, stablecoins, and virtual assets, assuring operators that key regulatory bodies are no longer seeking to impede their activities.
Instead, regulators are aligning to establish a unified, business-friendly ecosystem.
Oni Olushola, deputy director and tax controller of the Non-Resident Persons Tax Office at the Nigeria Revenue Service (NRS), formerly the Federal Inland Revenue Service (FIRS), revealed the government’s stance in Lagos at the second edition of the Nigeria Stablecoin Summit (NSS 2.0).
Olushola confirmed that the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), the NRS, and the Presidency are now fully aligned on supporting the sector.
A key driver of this shift is the recent signing of the Presidential Executive Order on Virtual Assets Coordination (2026) by President Bola Ahmed Tinubu. The order establishes the Virtual Asset
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