Nigeria’s central bank (CBN) introduces new licensing rules requiring companies that issue foreign currency-backed stablecoins to meet a minimum paid-up capital of ₦15 billion. The rules apply to issuers of tokens backed by currencies such as the US dollar, including stablecoins pegged to the United States.
CBN also sets out requirements for foreign stablecoin issuers to establish local entities as part of the licensing framework. Outlets describe the move as part of broader efforts to regulate Nigeria’s growing virtual-asset sector, with one report pointing to a detailed set of regulations published by the CBN.
While all accounts focus on the ₦15 billion capital threshold, coverage differs slightly in emphasis and framing. One outlet presents the story primarily as a CBN capital requirement for dollar-backed crypto operators, while another highlights that the requirement targets dollar stablecoin issuers and another adds a currency conversion figure and notes the requirement that foreign issuers form local companies.
