The Nigerian Central Bank, under Governor Olayemi Cardoso, is collaborating with the Securities and Exchange Commission (SEC) to establish a sustainable digital currency framework. This initiative represents a significant policy shift under President Bola Tinubu's administration, aiming to balance innovation with financial stability. Previously, the Central Bank of Nigeria (CBN) had a more adversarial approach to cryptocurrencies, but since May 2023, it has transferred authority on crypto-related matters to the SEC. The collaboration seeks to create a unified regulatory approach, signaling a broader change in Nigeria's stance on digital assets. This move is part of a strategic effort to integrate digital currencies into the financial system while ensuring regulatory oversight and stability.