WHAT GOT BUILT IN A WEEK 

By Adeyemi EKO. Monday, 20 July 2026

While Nigerians in South Africa wait months for a compensation answer, Tinubu built an entire new regulatory structure for crypto in the space of one signature.

On 17 July, Tinubu signed the Presidential Executive Order on Virtual Assets Coordination, and it took effect immediately. No transition period. No consultation window. The order pulls the Central Bank, the Securities and Exchange Commission and the new Nigeria Revenue Service into one Virtual Asset Council. The CBN chairs it. The Financial Intelligence Unit and the national security adviser's office sit in too.

Before this, crypto regulation in Nigeria was a mess of overlapping mandates. The CBN had one view. The SEC had another. Nobody was fully in charge, and fraudulent operators used that confusion to defraud Nigerians for years. The order fixes that structurally, and it fixes it in a single move.

There's a Virtual Asset Office now too, sitting inside the CBN. Its entire job is coordinating information between these agencies, so nobody has to wait for a meeting to happen before a decision gets made. Tinubu has given the new council 30 days to produce a full implementation plan. Thirty days, for a structure that used to not exist at all.

None of this is a criticism of the order itself. Nigeria's crypto sector badly needed coordinated oversight, and this is a reasonable way to build it. The point isn't that this move was wrong. The point is what it proves about what the state can do when it decides to.

A government that can stand up a five agency council with a 30 day delivery deadline is not a government that lacks the tools to move fast. It has the tools. It used them last week for a policy question involving digital assets and financial crime. The same toolkit hasn't shown up yet for citizens who lost physical shops and physical homes and are still waiting for a diplomatic answer that already came back as no.

Speed is a choice, not a capacity problem. This week made that difference visible in one document.

It also helps to know what was sitting on the table before this order landed. About a month earlier, the Senate had already advanced the Virtual Asset Service Providers Regulation Bill to its second reading, sponsored by Deputy Senate President Jibrin Barau. That bill would eventually put licensing and compliance rules for exchanges and wallet providers into permanent law. The executive order didn't wait for that process to finish. It built a working structure now and left the legislation to catch up later.

That sequencing matters. Nigeria has plenty of bills that sit in the National Assembly for years without becoming anything a citizen can point to. This time, the government didn't wait on the slower legislative track. It used an executive order, in force immediately, to get a functioning council standing before the bill even clears its final reading. When the state wants a result badly enough, it finds the fastest legal tool available and uses it. The question this raises isn't whether that's smart policy. It clearly is. The question is why the same instinct hasn't shown up yet for citizens waiting on compensation, or on wages already approved.

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