CBN updates guidelines for stablecoins operation
AI Executive Briefing
Verified Synthesis~34s readAccording to the bank, “A Class 1 Licensed Issuer shall maintain paid-up capital of N10 billion Naira or such higher amount as the Bank may prescribe, on entry and at all times thereafter. Sets N15bn capital requirement By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria has issued guidelines for virtual asset providers in the country, setting minimum capital requirement of N10 billion and N15 billion for Classes 1 and 2 issuers, respectively.
Context & Background
- ✦A customer conducting an activity requiring authorisation shall obtain the applicable licence or authorisation, cease the activity, or operate as an agent of the provider under Section 21, as the Bank may direct.” Among others, the objectives, the apex bank said were to: establish a comprehensive, risk-based regulatory framework governing the issuance, distribution, conversion, custody, transfer, redemption and settlement of Non-Security Virtual Assets, including stablecoins and Deposit Money Tokens; preserve the effectiveness of the Bank’s monetary policy instruments and its capacity to monitor and manage capital flows and foreign exchange dynamics; and protect holders and consumers from issuer insolvency, reserve or backing mismanagement, redemption denial, fraud and other conduct risks; safeguard the stability and integrity of the Nigerian financial system.
Key Figures & Named Entities
2026:This was contained in a circular with reference number PSP/DIR/PUB/CIR/001/004, date November 5, 2026 and signed by the Director of Payments Systems Policy, Mr. Musa Jimoh.dollar,:There is no offshore issuer exemption from incorporation, licensing or capital.” Class 2 stablecoins are digital tokens designed to maintain a stable value against foreign currencies, including the US dollar, while Class 1 refers to issuers of naira-referenced stablecoins.
Outlook & Next Steps
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Key Takeaways
Verified Extract- According to the bank, “A Class 1 Licensed Issuer shall maintain paid-up capital of N10 billion Naira or such higher amount as the Bank may prescribe, on entry and at all times thereafter.
- Sets N15bn capital requirement By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria has issued guidelines for virtual asset providers in the country, setting minimum capital requirement of N10 billion and N15 billion for Classes 1 and 2 issuers, respectively.
- A customer conducting an activity requiring authorisation shall obtain the applicable licence or authorisation, cease the activity, or operate as an agent of the provider under Section 21, as the Bank may direct.” Among others, the objectives, the apex bank said were to: establish a comprehensive, risk-based regulatory framework governing the issuance, distribution, conversion, custody, transfer, redemption and settlement of Non-Security Virtual Assets, including stablecoins and Deposit Money Tokens; preserve the effectiveness of the Bank’s monetary policy instruments and its capacity to monitor and manage capital flows and foreign exchange dynamics; and protect holders and consumers from issuer insolvency, reserve or backing mismanagement, redemption denial, fraud and other conduct risks; safeguard the stability and integrity of the Nigerian financial system.
Key Facts:2026: This was contained in a circular with reference number PSP/DIR/PUB/CIR/001/004, date November 5, 2026 and signed by the Director of Payments Systems Policy, Mr. Musa Jimoh.dollar,: There is no offshore issuer exemption from incorporation, licensing or capital.” Class 2 stablecoins are digital tokens designed to maintain a stable value against foreign currencies, including the US dollar, while Class 1 refers to issuers of naira-referenced stablecoins.
Editorial Excerpt
CBN sett minimum capital requirement of N10 billion and N15 billion for Classes 1 and 2 issuers, respectively.
Frequently Asked Questions About This Story
What is the latest development regarding Federal Capital Territory?
According to the bank, “A Class 1 Licensed Issuer shall maintain paid-up capital of N10 billion Naira or such higher amount as the Bank may prescribe, on entry and at all times thereafter.
Who are the key organizations or public figures mentioned?
Sets N15bn capital requirement By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria has issued guidelines for virtual asset providers in the country, setting minimum capital requirement of N10 billion and N15 billion for Classes 1 and 2 issuers, respectively.
What timeline or key figures were confirmed?
This was contained in a circular with reference number PSP/DIR/PUB/CIR/001/004, date November 5, 2026 and signed by the Director of Payments Systems Policy, Mr. Musa Jimoh.
