CBN updates guidelines for stablecoins operation

…Sets N15bn capital requirement

By Emma Ujah, Abuja Bureau Chief

The Central Bank of Nigeria (CBN) has issued guidelines for virtual asset providers in the country, setting minimum capital requirement of N10 billion and N15 billion for Classes 1 and 2 issuers, respectively.
This was contained in a circular with reference number PSP/DIR/PUB/CIR/001/004, date November 5, 2026 and signed by the Director of Payments Systems Policy, Mr. Musa Jimoh.
According to the bank, “A Class 1 Licensed Issuer shall maintain paid-up capital of N10 billion Naira or such higher amount as the Bank may prescribe, on entry and at all times thereafter. Class 2 Licensed Issuer shall maintain minimum p...