According to PUNCH, the Central Bank of Nigeria (CBN) stated that it will develop a regulatory policy framework for the implementation of cryptocurrencies in the country. In a report on "Nigeria's Payments System Vision 2025," the Central Bank of Nigeria revealed that it would consider developing a regulatory framework for the potential implementation of 'stablecoins', while also continuing to focus on initial coin offerings (ICOs) and working with Nigerian The SEC cooperates in developing the regulatory framework. According to previous news, Babangida Ibrahim, chairman of the Capital Markets and Institutions Committee of the Nigerian House of Representatives, revealed that the House of Representatives will soon pass a revised version of the 2007 Investment and Securities Act to allow the use of digital currencies in Nigeria. The bill would require the country’s Securities and Exchange Commission to recognize cryptocurrencies and other digital funds as investment capital. The proposed law will also define the regulatory roles of the Central Bank of Nigeria and the country’s Securities and Exchange Commission with regard to digital currencies.