[Nigerian President Signs Executive Order to Establish Virtual Assets Committee and Coordinate Crypto Regulation] Odaily Planet Daily News – Nigerian President Bola Ahmed Tinubu has signed an executive order to coordinate virtual asset regulation, enhance collaboration among the country's financial, tax, and capital market institutions, and address the fragmentation of digital asset regulation. The executive order establishes a Virtual Assets Committee composed of heads of Nigeria's major financial regulatory agencies, tasked with guiding relevant policies. Nigeria's tax authorities will update digital asset policies and provide more details on their impact on taxpayers. Presidential Special Adviser Bayo Onanuga stated that the executive order does not create new regulatory agencies or transfer powers between institutions; each agency retains its statutory responsibilities and independence. Registration requirements will be determined based on the nature of activities and the assets involved. According to a June report by the International Monetary Fund (IMF), since 2019, Nigeria has accounted for approximately 60% of stablecoin inflows in Sub-Saharan Africa. From July 2023 to June 2024, the country's cryptocurrency inflows are estimated to be around $59 billion.