By Kazeem Ugbodaga
President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a coordinated framework to regulate Nigeria’s fast-growing virtual assets sector, combat fraud and strengthen oversight without creating a new regulatory agency.
The Executive Order, which took immediate effect, establishes a Virtual Asset Council to harmonise the activities of financial, revenue and capital market regulators while promoting responsible innovation in the digital economy.
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According to a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the order was signed pursuant to Section 5 of the 1999 Constitution to address growing regulatory gaps as virtual assets increasingly blur the boundaries between currencies, commodities, securities and payment systems.
The Presidency said the fragmented regulatory landscape had exposed Nigeria to risks including money laundering, terrorism financing, cybercrime, data privacy breaches, fraud and significant revenue losses, with fraudulent operators exploiting
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