The Central Bank of Nigeria has rolled out comprehensive regulations to intensify oversight in the country’s expanding cryptocurrency market. The new legislative framework targets stablecoin issuers, crypto payment service providers, exchanges, custodians, and similar operators. Released on Thursday, the new rules concerning Non-Security Virtual Assets Operations grant existing players a 180-day window to apply for licenses or authorization. The Central Bank emphasized that this initiative is designed to support responsible innovation while safeguarding consumers and preserving financial stability.