President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination 2026, establishing a new framework to coordinate the regulation of virtual assets across Nigeria.

The directive, which takes immediate effect, creates a Virtual Asset Council to strengthen oversight of the country's growing digital economy, improve collaboration among key institutions and promote responsible innovation in the sector.

The new framework is designed to protect Nigerians from fraud, tackle money laundering and terrorism financing, improve revenue collection and close regulatory gaps created by the rapid growth of virtual assets.

The Presidency says the move addresses fragmented oversight that has allowed fraudulent and unregistered operators to exploit loopholes, exposing citizens to financial losses, cybersecurity threats and data privacy risks.

The Virtual Asset Council will be chaired by the Central Bank of Nigeria, with the Nigeria Revenue Service and the Securities and Exchange Commission serving as vice-chairmen. Other members include the Nigerian Financial Intelligence Unit and the Office of the National Security Adviser.