Nigeria Sets New Stablecoin Licensing Rules and Capital Requirements

TL;DR: Nigeria’s central bank issued a new framework on November 5 for non-security virtual assets, with separate stablecoin licences tied to naira and foreign-currency tokens. The rules introduce reserve, capital and local-presence obligations and ban certain algorithmic designs. This is a payments-regulation story, not a blanket legalisation of every crypto activity. Nigeria is moving from broad policy debates over digital assets toward detailed rules for the businesses that issue and move them. In a November 5 circular and accompanying regulations , the Central Bank of Nigeria set out a licensing framework covering stablecoins, payment services, custody, transfers and remittances involving non-security virtual assets.

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