Update
Nigeria Sets Capital Requirement for Foreign Stablecoin Issuers
Nigeria's Central Bank (CBN) has introduced new rules requiring foreign-currency stablecoin issuers, including USDT and USDC, to hold at least ₦15 billion ($11.16 million) in paid-up capital. The framework also sets limits for naira-backed stablecoin issuers and requires foreign issuers to operate through locally incorporated, licensed entities. The CBN will require monthly reserve attestations and may set additional capital or liquidity requirements for issuers it considers a financial-system risk.