Nigeria’s central bank mandates licenses for stablecoin issuers

The CBN's new framework sets naira capital floors, bans algorithmic stablecoins, and gives existing operators 30 days to register Nigeria’s central bank wants to know exactly who is minting digital dollars and digital naira in its backyard. On November 5, 2026, the Central Bank of Nigeria (CBN) rolled out a regulatory framework for non-security virtual assets, and stablecoin issuers are near the top of the list. The short version: issuers now need a license, a large pile of capital, and fully backed reserves. Algorithmic stablecoins, the kind that hold their peg through code and market incentives instead of cash in a vault, are banned outright. The framework splits stablecoins into two buckets. Class 1 covers tokens pegged to the naira.

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