Nigeria has clearly defined the division of crypto regulatory responsibilities: the Central Bank of Nigeria (CBN) issued new rules on Thursday evening, placing stablecoin payments, remittances, custody and other services under CBN oversight, while trading and investment remain under the Securities and Exchange Commission (SEC).
Crypto companies licensed by the SEC that want to offer stablecoin payment services must separately apply to the CBN for authorization and meet an additional capital requirement of at least 1 billion naira (about $744,000). Capital cannot be counted toward the requirements of both regulators; the minimum capital requirement for exchanges has also risen from 500 million naira to 2 billion naira (about $1.5 million).
Source: TechCabal, 2026-11-06. $USDT $USDC
Crypto companies licensed by the SEC that want to offer stablecoin payment services must separately apply to the CBN for authorization and meet an additional capital requirement of at least 1 billion naira (about $744,000). Capital cannot be counted toward the requirements of both regulators; the minimum capital requirement for exchanges has also risen from 500 million naira to 2 billion naira (about $1.5 million).
Source: TechCabal, 2026-11-06. $USDT $USDC