Nigeria Sets $11.16 Million Minimum Capital Requirement for Foreign-Currency Stablecoin Issuers

Nigeria's central bank has reportedly introduced a minimum paid-up capital requirement of approximately $11.16 million for issuers of foreign-currency-denominated stablecoins seeking to operate in the country.
The requirement establishes a financial threshold for companies entering the market and could increase compliance costs for smaller issuers. It also signals a more formal approach to supervising stablecoin activities.
Stablecoins have attracted attention in markets where users seek digital access to foreign currencies and cross-border payments. Nigeria's regulatory approach could influence which providers are able to offer such services domestically.
The capital requirement should not be confused with the reserves needed to back outstanding stablecoins. Those are separate considerations in assessing an issuer's financial strength.