ARAIB-20: PASS
NGA
🇳🇬[NGA]//NIGERIA STATUTE DESK
Nigeria Digital Asset Legal Classification & Token Offering Rules (2026 Statutory Guide)
JURISDICTION: Nigeria
SCHEMA: Legislation
STATUS: ENACTED BINDING LAW
AUDIT AS-OF: 2026-10-04
Statutory definitions of virtual currencies, securities qualification, and token offering frameworks.
Operational Meaning in Practice
Compliance with primary regulatory statutes and circulars in Nigeria is mandatory for commercial operations.
Entities Affected
- Virtual Asset Operators
- Institutional Investors
- Regulated Financial Institutions
Statutory Evolution
Governed under active statutory notices issued by Central Bank of Nigeria.
Statutory Licensing & Governance Tree
Supervising Regulator(s)
Central Bank of NigeriaCBN
Securities and Exchange Commission NigeriaSEC
Primary Enacted Statute / Gazette
Guidelines on Operations of Bank Accounts for Virtual Asset Service Providers (VASPs)
REF: FPR/DIR/PUB/CIR/002/003
EFFECTIVE: 2023-12-22 / STATUS: enacted_binding
Audited Permission States
Fiat Crypto BrokeragePermitted
Requires CAMA local incorporation and NGN 500M capital
Verbatim Statutory Evidence (Ground Truth)
FPR/DIR/PUB/CIR/002/003 / Section 6.1(a), Page 6
“No financial institution shall hold, trade or transact in virtual assets on its own account (proprietary trading is strictly prohibited).”
Source: Guidelines on Operations of Bank Accounts for Virtual Asset Service Providers (VASPs)
Evaluate a Specific Use-Case in Nigeria
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