March 16, 2025

Central Bank of Nigeria

Crypto

Nigeria’s cryptocurrency transactions hit $59bn despite ban

Nigeria’s cryptocurrency transactions soared to approximately $59 billion between July 2023 and June 2024, despite the Central Bank of Nigeria (CBN) prohibiting crypto trading in 2021. This was according to a report by KPMG and blockchain analytics firm Chainalysis, which highlighted the growing role of crypto in Nigeria’s financial landscape. The report revealed that Nigeria

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