Cryptocurrency in Nigeria has been a bit of a rollercoaster ride. The Central Bank of Nigeria initially prohibited banks from dealing with cryptocurrencies in early 2021, but later allowed some fintech companies to offer cryptocurrency services. However, in recent years, the Nigerian government has been warming up to cryptocurrencies and even introduced a new digital currency called e-Naira. All this to say that the situation is constantly evolving.

Nigerians are among the world’s top adopters of cryptocurrencies, often using them to transfer money, hedge against inflation, and as an alternative to the Naira.
However, there have been instances of fraud and scams involving cryptocurrencies in Nigeria, so caution is recommended.

The Nigerian government has expressed interest in regulating cryptocurrencies, but it's unclear what form that regulation will take.
Despite the uncertainty, Nigerians continue to show interest in cryptocurrencies, with peer-to-peer trading and investment growing in popularity.