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Nigeria central bank tightens stablecoin regulations
The Central Bank of Nigeria has introduced new regulations for stablecoins and other non‑security virtual assets. Foreign‑currency stablecoin issuers must operate through a Nigerian‑incorporated, CBN‑licensed entity. Naira‑pegged stablecoins are required to maintain full backing with eligible naira‑denominated reserves, while algorithmic stablecoins without full reserve backing are prohibited. Issuers must also meet licensing, redemption, reserve and compliance requirements, and the framework limits the use of foreign‑currency stablecoins for domestic naira obligations.