The Nigeria Cryptocurrency Executive Order is a clear sign that the era of fragmented crypto regulation in Nigeria is over. On July 18, 2026, President Bola Tinubu signed the Presidential Executive Order on Virtual Assets Coordination, 2026 and for every VASP, fintech, exchange, and digital asset business operating in Nigeria, it changes the compliance landscape immediately.

What the Executive Order Introduces

As confirmed by The State House, President Tinubu signed the order pursuant to Section 5 of the Constitution of the Federal Republic of Nigeria, 1999, to harmonise the regulation of virtual assets, strengthen cooperation among the nation's financial, revenue and capital markets agencies, protect citizens from fraud, and safeguard the integrity of the financial system while enabling responsible innovation. The order takes effect immediately.

The centrepiece of the order is the creation of a Virtual Asset Council. As The State House statement confirms, the CBN chairs the Council, with the SEC and the Nigeria Revenue Service serving as vice-chairs, alongside the Nigerian Financial Intelligence Unit and the Office of the National Security Adviser as members.

Critically, this order does not create a new regulator. Each institution retains its legal responsibilities and independence. The SEC continues to regulate virtual assets classified as securities. The CBN oversees payment systems, custody services, and other non-security virtual asset activities. Where regulatory responsibility is unclear, the Virtual Asset Council will determine the appropriate supervising agency.

Why This Development Matters

Nigeria has consistently ranked among the world's most active cryptocurrency markets but for years, the absence of coordinated regulatory oversight created gaps that fraudulent operators exploited freely.

The State House statement is direct about the consequences that with relevant agencies operating in silos, overlapping in some areas and leaving gaps in others, the country has been exposed to risks including money laundering, terrorism financing, cybersecurity and data privacy threats, fraud, and revenue losses.

The executive order addresses this by forcing the CBN, SEC, and NRS to work from the same framework closing the gaps that unregistered platforms have used to operate without accountability.

What It Means for VASPs, Fintechs, and Digital Asset Businesses and What is Expected of Them

Regulators who were previously working in isolation now have a formal structure that requires coordination. That means compliance failures that may have previously slipped between regulatory mandates are now more likely to be caught.

For VASPs, fintechs, exchanges, and payment providers, expect greater regulatory attention on:

1. 1.Licensing and registration: operating without a valid VASP license issued by the SEC is now a more visible and enforceable risk.
2. 2.AML/CFT compliance: the NFIU's inclusion in the Virtual Asset Council means financial intelligence and suspicious transaction reporting are now central to how the industry is supervised.
3. 3.KYC and Customer Due Diligence: customer verification standards will be assessed across agencies, not just by one regulator.
4. 4.Transaction monitoring: the ability to detect, flag, and report suspicious activity is now a cross-agency expectation.
5. 5.Governance and internal controls: the order's emphasis on accountability means regulators will look at how compliance responsibilities are assigned and managed internally.

Conclusion

Coordination among Nigeria's regulators has been a long-standing gap in the digital asset space. That gap is now closed. What comes next is a more consistent, more visible, and more consequential regulatory environment and the businesses that are prepared for it will have a clear advantage over those that are not.

How A&D Forensics Can Help

At A&D Forensics, we help financial institutions, fintech companies, and Virtual Asset Service Providers build compliance programmes that hold up under exactly this kind of coordinated regulatory scrutiny. Our services cover end-to-end licensing and regulatory setup, AML/CFT framework design and enhancement, enterprise-wide risk assessments, transaction monitoring supervision, sanctions screening guidance, regulatory gap analysis, and compliance training, all aligned with FATF recommendations and Nigerian regulatory requirements. Whether you are preparing for your first regulatory inspection or strengthening an existing programme, speak to our team to find the right path forward.