President Tinubu has ordered CBN to track all digital currencies payments.
NewsOnline Nigeria reports that President Bola Tinubu has directed the Central Bank of Nigeria (CBN) and other financial regulators to intensify supervision of digital currencies and payment systems across the country.
Speaking at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday, Tinubu represented by Minister of Finance and Coordinating Minister of the Economy, Wale Edun warned that the rapid adoption of stablecoins and digital payments outside the traditional banking framework demands urgent regulatory action.
“There is a digital revolution. Many people now make payments without using the banking system. They’ve turned to stablecoins and digital currencies. To this end, I have directed capital market and banking authorities to get hold of this narrative and track it while it is still evolving,” he said.
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Tinubu emphasized that digital tools, artificial intelligence, and open banking are critical innovations Nigeria must embrace to drive economic growth.
Meanwhile, CBN Governor Olayemi Cardoso disclosed that diaspora remittances have risen to $600 million monthly as of August 2025, with projections to hit $1 billion monthly by 2026.
CIBN President, Prof. Pius Olanrewaju, also revealed that since 2024, 16 listed banks have raised over ₦2.5 trillion in fresh capital, while net domestic credit to the private sector has surged above ₦82 trillion, boosting businesses and job creation.
