The Central Bank of Nigeria has announced new regulations governing the issuance and circulation of stablecoins. Different licenses will be required for tokens pegged to the naira and foreign currencies. Additionally, algorithmic stablecoins that lack adequate reserves have been banned. Issuers must obtain approval for each asset, maintain reserves, and adhere to anti-money laundering regulations. These rules took effect on November 5, with existing operators given 30 days to register and 180 days to apply for a license.