Tinubu stablecoin regulation directive urges banking authorities to monitor digital currencies, citing financial risks and systemic transformation
Tinubu stablecoin regulation is now a policy priority as Nigeria’s President Bola Tinubu has instructed financial and capital market authorities to track the rising use of stablecoins and digital currencies.
Also read: Tinubu Health Sector Power Reform Targets Crises
Speaking at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday, Tinubu—represented by Finance Minister Wale Edun—warned that the shift away from traditional banking channels poses serious challenges to economic stability.
“So many people now are not using the banking system to make payments. They’ve turned to stablecoin. They’ve turned to digital currency,” Tinubu said.
“I have directed capital market and banking authorities to get hold of this narrative and track it while it is still evolving.”
The Tinubu stablecoin regulation move comes amid increased global interest in decentralized finance (DeFi) and digital assets.
The Nigerian Securities and Exchange Commission (SEC) has already ramped up oversight following the passage of the Investment and Securities Act 2025, which classifies digital assets as securities.
This law empowers the SEC to license Virtual Asset Service Providers (VASPs), mandate Know Your Customer (KYC) protocols, and enforce Anti-Money Laundering (AML) rules to safeguard the financial ecosystem.
President Tinubu underscored the importance of adopting artificial intelligence, digital tools, and open banking to modernize Nigeria’s industrial base and generate employment.
“Our GDP is growing, but the industrial contribution from manufacturing is not where it should be to create the jobs we need,” he noted.
“Innovation is key.”
With Nigeria projected to have the world’s largest workforce by 2050, the president reaffirmed his administration’s focus on youth empowerment through investments in education, infrastructure, and digital skills.
Tinubu also referenced sweeping tax reforms and a planned consolidation of over 100 tax-collecting agencies into the Nigeria Revenue Service, scheduled to commence in January 2026.
He revealed that connecting all government accounts to the Central Bank of Nigeria (CBN) has increased revenue visibility and optimization.
“That linkage with the Central Bank… now gives us full visibility on government finances,” he said.
Highlighting the broader scope of financial inclusion, Tinubu stated:
“Inclusion really means jobs—quality jobs, attractive jobs—for our young men and women.”
CBN Governor Olayemi Cardoso set an ambitious target of attracting $1 billion in monthly diaspora remittances by 2026, citing their importance in boosting foreign exchange reserves.
Cardoso revealed that remittance inflows have risen from $250 million to $600 million per month, thanks to strategic outreach through banks like Access Bank and Zenith Bank.
CIBN President Prof. Pius Olanrewaju presented encouraging figures:
- Over ₦2.5 trillion raised by listed banks since 2024
- ₦82 trillion in net domestic credit to the private sector
- 236 non-oil export products generating $3.23 billion in H1 2025—a 19.6% YoY increase
He also lauded the government’s support for reforms that promote digital innovation, policy streamlining, and private-sector partnerships for inclusive growth.
The Tinubu stablecoin regulation directive signals a pivotal moment in Nigeria’s approach to digital finance.
Also read: Tinubu Health Sector Power Reform Targets Crises
As stablecoins and cryptocurrencies challenge traditional systems, the government is moving to ensure regulatory clarity, protect consumers, and strengthen financial stability in a digital-first economy.
