Nigeria Forms New Council to Oversee Crypto Market

President Bola Tinubu recently signed an executive order to create a dedicated Virtual Asset Council. This new body aims to provide a unified regulatory framework for the millions of people in Nigeria who currently use cryptocurrency.

Estimates suggest that between 20 and 25 million Nigerians are active in the crypto market. By forming this council, the government seeks to bring official oversight to the sector while ensuring that digital asset activities align with national economic goals.

This move signals a shift toward formalizing how crypto is handled in one of the most active markets on the continent. Traders and businesses should keep an eye on how the council defines its rules, as these policies will shape the future of digital asset access for users in the region.