Nigeria Central Bank Sets Stablecoin Licensing Rules, Bans Algorithmic Versions

The ban on algorithmic stablecoins is the sharper edge here: it forecloses a whole design category rather than just adding a licensing layer, signaling that Nigeria's central bank wants reserve-backed models it can supervise. This affects issuers serving Nigerian users and any platform listing such tokens locally. The missing effective date is the practical gap — until it is set, the compliance timeline and enforcement posture remain unclear, and whether the licensing regime attracts or deters issuers is the open question.