The Central Bank of Nigeria will determine the effective date of virtual asset regulations at a later stage

Odaily: The Central Bank of Nigeria has issued a regulatory framework for non-security virtual assets, covering stablecoin issuance, exchange, custody, transfers, and settlement. The regulations require that licensed issuers of foreign currency-pegged stablecoins continuously maintain paid-in capital of at least 15 billion naira, while the threshold for naira-pegged stablecoin issuers is 10 billion naira. Platform P2P service providers must verify that the name on the naira payment account and the bank verification number match those of the verified customer before releasing or crediting regulated tokens. The effective date of the regulations will be determined by the central bank in a subsequent document.