Nigeria Sets 15 Billion Naira Capital Minimum for Foreign-Currency Stablecoin Issuers

The Central Bank of Nigeria (CBN) has set a 15 billion naira paid-up capital minimum for issuers of stablecoins tied to foreign currencies, establishing a licensing threshold for a segment of the country’s virtual-asset market.

The CBN’s rules also require BVN verification for peer-to-peer (P2P) trading. They cover nonsecurity virtual assets and stablecoins used for payments, settlement and foreign-exchange activity.

Virtual assets classified as securities remain under Nigeria’s Securities and Exchange Commission (SEC). The division places nonsecurity assets used for the specified payment and currency functions under the CBN, while the SEC oversees the securities category.

The rules pair an issuer-level capital floor with a separate BVN check for P2P trading. The capital minimum applies to foreign-currency stablecoin issuers, while the verification requirement concerns P2P transactions. Both requirements are part of the CBN’s rules for nonsecurity virtual asset operations.