President Bola Tinubu has directed the Central Bank of Nigeria (CBN) and other regulators to monitor all cryptocurrency and digital payment transactions in the country. He stressed that the digital economy is evolving fast and must not operate outside regulatory oversight.
The President, represented by Finance Minister Wale Edun at the 18th Annual Banking and Finance Conference in Abuja, said stablecoins and other digital currencies pose risks if not properly tracked. He called on regulators to take control of the narrative while it is still emerging.
Tinubu emphasized that Nigeria must embrace the digital revolution but ensure it aligns with financial stability and national security. He urged the CBN to intensify oversight and create a safer digital financial ecosystem.