Topic: #nigeria
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Nigeria's central bank bans algorithmic stablecoins under new crypto licensing rules
The Central Bank of Nigeria issued crypto regulations that ban algorithmic stablecoins, require full reserve backing plus a 2% buffer, and give existing operators 180 days to seek licenses, Cointelegraph reported.
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Nigeria's central bank requires licenses for stablecoin issuers, bans algorithmic tokens
The Central Bank of Nigeria rolled out a framework for non-security virtual assets on November 5, 2026, requiring stablecoin issuers to hold licenses, minimum capital and fully backed reserves while banning algorithmic stablecoins.
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Dangote Refinery IPO halted by Nigeria SEC, rescheduled to September
Nigeria's Securities and Exchange Commission issued a halt order on Dangote Petroleum Refinery's IPO in June 2026, citing lack of formal application. The $39–50 billion offering, targeting September, would be Africa's largest ever and fund a five-year industrial expansion.
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Dangote Refinery seeks $40B valuation in Nigeria's largest IPO
Aliko Dangote is pursuing a public listing for his Lagos-based petroleum refinery at a $39 billion valuation, the largest in Nigerian history. The SEC halted IPO marketing in June due to a missing formal application, potentially delaying the September 2026 target date.