Nigeria tightens rules for dollar stablecoin issuers as naira coin lags
Nigeria's central bank published licensing rules for regulated tokens, requiring dollar-linked stablecoin issuers to have a local presence and pass capital and reserve tests. Foreign firms marketing coins to Nigerians must comply even without an office there. The rules also cover naira-backed coins, and the article notes the state-backed naira coin cNGN is still struggling to win users.