Nigeria President Signs Executive Order to Establish Virtual Assets Committee

According to ChainCatcher, Nigeria's President Bola Ahmed Tinubu recently signed an executive order to establish a Virtual Assets Committee, aiming to coordinate digital asset regulation and strengthen cooperation among the country's financial, tax, and capital market authorities.

The committee will be led by heads of Nigeria's major financial regulators and tasked with guiding related policies. Presidential Special Adviser Bayo Onanuga clarified that the order does not create new regulatory institutions or transfer powers between existing agencies; each institution retains its statutory responsibilities and independence. Registration requirements will be determined based on the nature of activities and assets involved. Nigeria's tax authority will update its digital asset policies and provide further details on impacts to taxpayers.