Nigeria President Tinubu Signs Order to Coordinate Virtual Asset Regulation

President Bola Ahmed Tinubu of Nigeria signed a presidential executive order aimed at harmonising the oversight of virtual assets. The order seeks to close gaps caused by fragmented regulation across agencies by establishing a Virtual Asset Council, chaired by the Central Bank of Nigeria with the Nigeria Revenue Service and the Securities and Exchange Commission as vice‑chairs, and including the Financial Intelligence Unit and the Office of the National Security Adviser. The council will provide policy direction, enhance cooperation among financial, revenue and capital‑markets regulators, protect citizens from fraud and enable responsible innovation, while the existing agencies retain their statutory powers. The order also creates a Virtual Asset Office at the central bank to handle day‑to‑day coordination and directs the tax authority to update guidance on taxing digital‑asset activities. It took effect immediately and does not create a new regulator.