# Nigeria Sets $11.16 Million Capital Floor for Foreign-Currency Stablecoin Issuers

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/51278
Published: 2026-11-08T02:14:31.000Z
Updated: 2026-11-08T02:14:31.000Z
Section: Regulation

> Platforms matching peer-to-peer trades need CBN approval and must match naira account names against users’ BVNs before releasing regulated tokens.

The Central Bank of Nigeria (CBN) has set a minimum paid-up capital requirement of about $11.16 million for locally licensed issuers of foreign-currency-pegged stablecoins under new rules for non-security virtual assets. The regulation, issued Thursday, Nov. 5, covers virtual assets used for payments, settlement and foreign exchange.

The rules classify foreign-currency stablecoins as Class 2. They also set separate capital requirements for issuers of naira-pegged Class 1 tokens and providers of other non-security virtual-asset services. Companies already licensed by the Securities and Exchange Commission (SEC) cannot count the same capital again toward CBN requirements.

Platforms that match peer-to-peer trades need specific CBN approval. Before releasing or crediting a regulated token, they must verify that the name on a naira payment account matches the user’s BVN.

The rules also prohibit algorithmic stablecoins. Securities remain under the SEC, while the CBN framework covers non-security virtual assets used for payments, settlement and currency exchange.