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Nigeria's Tinubu Signs Order to Unify Crypto Regulation, Taxes
Nigeria's President Tinubu signed an executive order creating a virtual asset council and directing tax updates, aiming to close gaps as the country accounted for 60% of sub-Saharan stablecoin inflows.
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President Bola Ahmed Tinubu of Nigeria has moved to address what his office called the fragmentation of digital asset regulation.
The Nigerian president's special adviser, Bayo Onanuga, said an executive order signed Friday would "harmonize 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 creates a virtual asset council chaired by top financial regulators to coordinate policy. It directs Nigeria's tax authority, the Nigerian Revenue Service, to update its digital-asset tax policies. Onanuga emphasized the order does not create a new regulator or transfer powers. "Each institution retains its full statutory mandate and independence," he said.