*Tinubu

President Bola Tinubu on Friday signed the Presidential Executive Order on Virtual Assets Coordination, 2026. The order, signed pursuant to Section 5 of the 1999 Constitution (as amended), establishes a new supervisory architecture to harmonise the regulation of virtual assets in Nigeria. A statement signed on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the order takes immediate effect. It said the order also closes the regulatory gaps that have allowed fraudulent operators to prey on unsuspecting Nigerians and positions the country to benefit from responsible innovation in the digital economy. “It responds to a regulatory environment that has become fragmented as virtual assets increasingly blur the traditional boundaries between currencies, money, commodities and securities. “With relevant agencies operating in silos, overlapping in some areas and leaving gaps in others, the country has been exposed to risks including money laundering, terrorism financing, cybersecurity and data privacy threats, fraud, and revenue losses. “Too often, unregistered and fraudulent operators have exploited these gaps to prey on unsuspecting Nigerians, costing families their savings,” the statement read.

Punch