Nigeria now integrating crypto! President Tinubu has created a Virtual Asset Council led by the central bank, aiming to protect users while supporting innovation. No networks are confirmed, but payment-focused chains like $HBAR, $ALGO and $XLM would be well suited!

What happened

President Tinubu established a Virtual Asset Council, led by Nigeria's central bank, to protect users and support innovation in the crypto space.

Confirmed

Global impact / market context

The council gives Nigeria a clear regulatory framework, encouraging crypto businesses to operate safely and potentially increasing digital payment use across the country.

Analyst inference

Nigeria has one of Africa's largest crypto user bases, so official oversight could boost confidence, attract investment, and shape how digital assets are used for payments and remittances.

Analyst inference

What to watch

1. Any licensing rules or compliance requirements the council publishes, which will dictate how crypto firms can operate in Nigeria. Proposed
2. Statements from the council about preferred blockchain networks, which could signal official support for specific payment‑focused chains. Proposed
3. Reactions from Nigerian exchanges and fintech companies, as they adjust services to align with new regulations and potential incentives. Proposed

Evidence

• x.com