CBN sets N15 billion capital requirement for foreign stablecoin issuers, tightens P2P crypto rules - Nairametrics

The Central Bank of Nigeria has introduced a N15 billion capital requirement for foreign stablecoin issuers operating in the country, alongside tighter rules for peer-to-peer crypto transactions, according to Nairametrics. The move signals a formal attempt to bring stablecoin activity within a regulated perimeter rather than leaving it to informal channels.

For the market, the capital threshold matters because it raises the entry cost for offshore issuers and may shape which stablecoins remain readily accessible to Nigerian users. Stricter P2P oversight is similarly significant: peer-to-peer trading has often served as a workaround when formal exchange access is limited, so tighter monitoring could affect how readily users move between naira and digital assets.

What to watch is implementation. The practical effect will depend on how the CBN defines covered issuers, how compliance is enforced, and whether licensed local alternatives emerge to fill any gap. For now, the direction is clear — regulators are moving from ambiguity toward explicit requirements, and market participants should expect compliance costs and access rules to become more visible considerations in how stablecoin services are offered in Nigeria.