Tinubu signs executive order to harmonise virtual assets regulation, establishes council

The PunchIndependentCenter2 hr. ago

President Bola Tinubu signed an executive order establishing a new regulatory framework for virtual assets in Nigeria. The order, effective immediately, creates a Virtual Asset Council chaired by the Central Bank of Nigeria, with other financial regulators as members. The goal is to harmonize regulations across fragmented institutions, close gaps exploited by fraudulent operators, and enhance oversight of the digital economy. The framework does not create a new regulator but coordinates existing agencies, ensuring they retain their statutory mandates. It introduces a Virtual Asset Office under the CBN to manage daily operations and information sharing through an integrated technology platform.

Bias read (Center): The article presents the executive order as a technical regulatory measure aimed at improving coordination and security within Nigeria's financial system. While the subject involves government action on a politically sensitive issue (cryptocurrency regulation), the framing remains neutral, avoiding褒

Vanguard NigeriaIndependentCenter3 hr. ago

President Bola Ahmed Tinubu has signed an Executive Order establishing a framework for regulating virtual assets in Nigeria. The order aims to create a coordinated approach among financial regulators to address fragmentation in current regulations and mitigate risks such as money laundering and fraud. It establishes a Virtual Asset Council chaired by the Central Bank of Nigeria (CBN), with the Nigeria Revenue Service (NRS) and Securities and Exchange Commission (SEC) as vice-chairs. The council will oversee policy development, inter-agency cooperation, and legal frameworks for virtual assets. A separate Virtual Asset Office will operate under the CBN to manage day-to-day coordination and technological integration. The order emphasizes that it does not replace existing regulatory bodies but enhances their collaboration to ensure efficient oversight of the growing digital asset sector.

Bias read (Center): The article presents the executive order as a regulatory initiative aimed at improving coordination and oversight without overtly endorsing or criticizing specific political factions. While the subject matter involves significant governmental action, the framing remains neutral, focusing on the need

Premium Times NigeriaIndependentCenter4 hr. ago

President Bola Tinubu has signed an Executive Order to regulate virtual assets in Nigeria, establishing a Virtual Asset Council to coordinate oversight across financial institutions. The order aims to address fragmentation in current regulations, reduce risks such as money laundering and fraud, and ensure responsible innovation in the virtual asset space. The council includes the Central Bank of Nigeria, the Nigeria Revenue Service, and the Securities and Exchange Commission, with the CBN serving as chair. The framework emphasizes collaboration without creating new regulators or altering existing mandates. Registration processes are tailored based on the type of activity and asset, ensuring clarity for operators and protection for the public.

Bias read (Center): The article presents the executive order as a balanced regulatory initiative aimed at addressing systemic issues without taking overtly partisan positions. It explains the structure and intent of the policy without emphasizing ideological leanings, focusing instead on functional governance and risk-