The Central Bank of Nigeria has issued new regulations governing non-security virtual assets and stablecoins used for payment, settlement, and remittance. Under the framework effective November 5, 2026, foreign-currency-pegged stablecoins (Class 2) must be issued by locally licensed entities with a minimum paid-in capital of 15 billion naira (~$11.16 million). Naira-pegged Class 1 issuers require 10 billion naira in capital, while other non-security virtual asset service providers must hold at least 1 billion naira. Entities already holding an SEC license cannot count that capital twice against CBN requirements. Platform-facilitated peer-to-peer trading now requires dedicated CBN approval, with platforms mandated to verify that the name on naira payment and receiving accounts matches the Bank Verification Number before releasing or crediting regulated tokens. Algorithmic stablecoins are explicitly prohibited. Securities-related digital assets remain under the jurisdiction of the Securities and Exchange Commission, establishing a clear regulatory boundary between the two bodies.