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Crypto·1 min read

Nigeria Sets $11.16 Million Capital Floor for Stablecoin Issuers

Nigeria's central bank now requires foreign-currency stablecoin issuers to hold at least ₦15 billion ($11.16 million) in paid-up capital and set up local entities.

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Nigeria's central bank has introduced new licensing rules for stablecoin issuers, requiring those that issue foreign-currency-backed tokens to hold at least ₦15 billion (about $11.16 million) in paid-up capital.

The rules also oblige such issuers to establish local entities in Nigeria. In practice, a foreign company wanting to offer a stablecoin tied to a foreign currency in the market cannot do so purely from abroad. It must set up a Nigerian presence and meet the capital threshold.

Why it matters

The capital requirement is substantial, and it will likely favour well-funded operators over small startups. Companies that want to issue dollar-linked or other foreign-currency stablecoins in Nigeria will need to plan for both the funding and the cost of a local structure.

For users and businesses, a licensing regime with a local legal entity could make it clearer who is accountable for a stablecoin that circulates in the country. Stablecoins are widely used in Nigeria as a way to hold and move value in foreign currency, so rules governing issuers affect a large segment of the crypto market.

What comes next

Issuers active in or targeting Nigeria will need to assess whether they can meet the ₦15 billion threshold and the local-entity condition. Further details on timelines, application procedures and treatment of existing operators were not part of the announcement summary, so the practical impact will depend on how the central bank implements the framework.

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