Central Bank of Nigeria (CBN) has introduced a minimum paid-up capital requirement of 15 billion naira for companies seeking to issue stablecoins backed by foreign currencies.
Gatekeepers News reports that the requirement is contained in the apex bank’s new Regulations for the Operations of Non-Security Virtual Assets in Nigeria, issued on November 5, 2026, to establish licensing and supervisory rules for stablecoin issuers and other virtual asset service providers.
Under the regulations, foreign currency-referenced stablecoins, classified as Class 2, must be issued through companies incorporated in Nigeria and holding valid licences from CBN.
The bank also stipulated a minimum paid-up capital of 10 billion naira for companies issuing naira-backed stablecoins, classified as Class 1.
Meanwhile, firms providing other virtual asset services, including cryptocurrency exchanges, digital wallets, custody, transfers and remittance services, are required to maintain a minimum capital of one billion naira.
CBN stated that the capital requirements must be maintained separately from customer funds, reserve assets and operational liquidity.
It added that it could prescribe higher capital thresholds depending on the scale of an operator’s activities, transaction volumes, risk exposure and redemption obligations.
The new regulations also require stablecoin issuers to maintain adequate reserves, liquidity, cybersecurity and anti-money laundering controls to protect customers and ensure financial stability.
The apex bank further directed existing operators to register with it within 30 days, commence supervisory reporting within 60 days and complete their licence applications within 180 days of the regulations’ commencement.
It warned that operators who fail to meet the licensing requirements within the stipulated period would be required to suspend their activities until they obtain the necessary approval.
CBN said the framework was designed to promote responsible innovation, strengthen the integrity of Nigeria’s financial system and provide appropriate oversight for emerging digital payment instruments.
