Compliant Naira (cNGN) stablecoin analytics
cNGN is a centralized Nigerian naira stablecoin backed 1:1 by NGN deposits at designated Nigerian commercial banks under the cNGN issuer consortium.
Static Profile
Static stablecoin profile
Compliant Naira (cNGN) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Nigerian Naira.
AI summary / Updated Jun 12, 2026
cNGN is a Nigerian naira stablecoin that looks more like regulated settlement plumbing than a speculative dollar substitute. The reserve mix is split between commercial-bank naira deposits and naira money-market or short-term FGN treasury-bill exposure, with monthly independent...
AI summary · drafted by gpt-5-codex · reviewed by Codex data review on Jun 12, 2026 · facts as of Jun 12, 2026
- Collateral
- Naira reserves held 1:1 against outstanding cNGN, comprising deposits at licensed Nigerian commercial banks plus naira money-market funds and short-term FGN treasury bills, verified by monthly independent attestations
- Peg Mechanism
- Issuer-managed mint and redemption path designed to maintain 1 cNGN = 1 NGN through naira reserves and compliant transfer rails
- Jurisdiction
- Nigeria / Securities and Exchange Commission Nigeria / SEC-supervised regulated digital asset
- Proof Of Reserves
- Independent Audit by Bala Isah Garba & Company Reserve source
Snippet Answer
Is cNGN safe?
Pharos does not mark cNGN as absolutely safe. Static metadata says Compliant Naira uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from Bala Isah Garba & Company; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety cngn-compliant-naira
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Jun 12, 2026.
cNGN quick answers
What is Compliant Naira (cNGN)?
cNGN is a centralized Nigerian naira stablecoin backed 1:1 by NGN deposits at designated Nigerian commercial banks under the cNGN issuer consortium. The static profile records its Nigerian Naira peg mechanism as: Issuer-managed mint and redemption path designed to maintain 1 cNGN = 1 NGN through naira reserves and compliant transfer rails
What backs cNGN?
Pharos classifies cNGN backing as Real-World Asset Backed. Collateral, per the static profile: Naira reserves held 1:1 against outstanding cNGN, comprising deposits at licensed Nigerian commercial banks plus naira money-market funds and short-term FGN treasury bills, verified by monthly independent attestations Reserve evidence: Independent Audit from Bala Isah Garba & Company.
Can cNGN be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for cNGN, when applicable, appear in the dossier below.