CBN sets N15bn capital requirement for dollar stablecoins
AI Executive Briefing
Verified Synthesis~40s readThe Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States dollar, as part of new regulations governing virtual assets and digital payment services in Nigeria. Under Section 15.2 of the regulations, the CBN stated, “A Class 2 Licensed Issuer shall maintain minimum paid-up capital of fifteen billion Naira (N15,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter.” The provision applies to Class 2 stablecoins, which are digital tokens designed to maintain a stable value against foreign currencies, including the US dollar.
Context & Background
- ✦The regulations also prescribe a lower capital threshold of N10bn for issuers of naira-referenced stablecoins, classified as Class 1, while companies providing other non-security virtual asset services must maintain at least N1bn in paid-up capital.
Key Figures & Named Entities
dollar,:The Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States dollar, as part of new regulations governing virtual assets and digital payment services in Nigeria.Friday:The requirement is contained in the Regulations for the Operations of Non-Security Virtual Assets in Nigeria, released by the apex bank on Friday, following a circular dated 5 November, 2026, and signed by the Director of the Payments System Policy Department, Musa Jimoh.dollar.:Under Section 15.2 of the regulations, the CBN stated, “A Class 2 Licensed Issuer shall maintain minimum paid-up capital of fifteen billion Naira (N15,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter.” The provision applies to Class 2 stablecoins, which are digital tokens designed to maintain a stable value against foreign currencies, including the US dollar.
Outlook & Next Steps
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Key Takeaways
Verified Extract- The Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States dollar, as part of new regulations governing virtual assets and digital payment services in Nigeria.
- Under Section 15.2 of the regulations, the CBN stated, “A Class 2 Licensed Issuer shall maintain minimum paid-up capital of fifteen billion Naira (N15,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter.” The provision applies to Class 2 stablecoins, which are digital tokens designed to maintain a stable value against foreign currencies, including the US dollar.
- The regulations also prescribe a lower capital threshold of N10bn for issuers of naira-referenced stablecoins, classified as Class 1, while companies providing other non-security virtual asset services must maintain at least N1bn in paid-up capital.
Key Facts:dollar,: The Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States dollar, as part of new regulations governing virtual assets and digital payment services in Nigeria.Friday: The requirement is contained in the Regulations for the Operations of Non-Security Virtual Assets in Nigeria, released by the apex bank on Friday, following a circular dated 5 November, 2026, and signed by the Director of the Payments System Policy Department, Musa Jimoh.dollar.: Under Section 15.2 of the regulations, the CBN stated, “A Class 2 Licensed Issuer shall maintain minimum paid-up capital of fifteen billion Naira (N15,000,000,000), or such higher amount as the Bank may prescribe, on entry and at all times thereafter.” The provision applies to Class 2 stablecoins, which are digital tokens designed to maintain a stable value against foreign currencies, including the US dollar.
Editorial Excerpt
The Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States…
Frequently Asked Questions About This Story
What is the latest development regarding Central Bank of Nigeria?
The Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States dollar, as part of new regulations governing virtual assets and digital payment services in Nigeria.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Central Bank of Nigeria, Naira & Foreign Exchange Policy.
What timeline or key figures were confirmed?
The Central Bank of Nigeria has introduced a minimum paid-up capital requirement of N15bn for companies issuing foreign currency-backed stablecoins, including those pegged to the United States dollar, as part of new regulations governing virtual assets and digital payment services in Nigeria.
