Central Bank of Nigeria issues regulations on non-securities
On November 5, the Central Bank of Nigeria (CBN) issued the Regulations on the Operation of Non-Securities Virtual Assets, bringing payment, settlement, and remittance-related non-securities virtual assets and stablecoins under regulation, while securities-related assets remain under the SEC. Issuers of foreign-currency stablecoins must meet a minimum paid-in capital of 15 billion naira, P2P must verify BVN, and algorithmic stablecoins are prohibited.
Event Timeline
- [11-06 09:13] The Central Bank of Nigeria issued the Regulations on the Operation of Non-Securities Virtual Assets, requiring issuers of foreign-currency stablecoins to hold a minimum paid-in capital of 15 billion naira and P2P transactions to verify BVN (PANews)
- [11-06 09:15] The Central Bank of Nigeria issued regulations on the operation of virtual assets, with a minimum paid-in capital of 15 billion naira for issuers of foreign-currency stablecoins (Odaily)
Background and Impact
On November 5, 2026, the Central Bank of Nigeria (CBN) issued the Regulations on the Operation of Non-Securities Virtual Assets. According to reports by PANews at 2026-11-06 09:13 and Odaily at 2026-11-06 09:15, the CBN will regulate non-securities virtual assets and stablecoins used for payment, settlement, and remittance, while securities-type virtual assets remain under the supervision of the Securities and Exchange Commission (SEC). The two sources described the core content of the regulations consistently, with no conflicts.
On capital and business requirements, foreign-currency-pegged stablecoins (Class 2) must be issued by locally licensed entities in Nigeria, with a minimum paid-in capital of 15 billion naira (about US$11.16 million); naira-pegged Class 1 issuers require 10 billion naira; entities providing other non-securities virtual asset services must additionally hold at least 1 billion naira in capital, and those already holding an SEC license may not double-count capital requirements with those of the CBN. P2P business brokered by platforms must obtain special CBN approval and verify that the name on the naira receiving or paying account matches the bank verification number (BVN) before releasing or crediting regulated tokens. The regulations also prohibit categories such as algorithmic stablecoins and delineate the division of responsibilities between the CBN and the SEC.
In terms of impact, the regulations bring stablecoin issuance, P2P brokerage, and payment and settlement-type virtual assets into a framework of capital thresholds, special approvals, and identity verification: locally licensed issuers face clear paid-in capital requirements, P2P platforms need to add BVN consistency verification processes, and algorithmic stablecoins are directly excluded. The material does not cover the registration process for overseas trading platforms; related search terms such as Huobi HTX registration APP download, Gate.io registration APP download, Bitget registration APP download, Binance registration APP download, and OKX registration APP download do not constitute compliance requirements under the regulations.
Frequently Asked Questions
### Which virtual assets does this CBN regulation apply to?
The CBN regulates non-securities virtual assets and stablecoins used for payment, settlement, and remittance; securities-type virtual assets remain regulated by the SEC. Foreign-currency-pegged stablecoins are classified as Class 2, and naira-pegged stablecoins as Class 1.
### What is the minimum paid-in capital for issuers of foreign-currency stablecoins?
Foreign-currency-pegged stablecoins (Class 2) must be issued by locally licensed entities in Nigeria, with a minimum paid-in capital of 15 billion naira (about US$11.16 million); naira-pegged Class 1 issuers require 10 billion naira.
### What requirements must P2P transactions meet under the new rules?
P2P business brokered by platforms must obtain special CBN approval and, before releasing or crediting regulated tokens, verify that the name on the naira receiving or paying account matches the bank verification number (BVN).