They would start by giving banks the free liberty to allow users transact with cryptocurrency directly first before considering using it as a collateral. The CBN has not revoked its stand on direct transaction with cryptocurrency with banks and any account linked to that is still a high target for ban.

So, first things first, acceptability before thinking of using it as collateral. Waiting for Nigeria to approve this would seem to me as hopeless since this administration literally has no fancy of cryptocurrency and its economic benefits rather. Rather, they enjoy getting loans from western countries to degrade the economy instead of boosting it.

They would start by giving banks the free liberty to allow users transact with cryptocurrency directly first before considering using it as a collateral. The CBN has not revoked its stand on direct transaction with cryptocurrency with banks and any account linked to that is still a high target for ban.

So, first things first, acceptability before thinking of using it as collateral. Waiting for Nigeria to approve this would seem to me as hopeless since this administration literally has no fancy of cryptocurrency and its economic benefits rather, they enjoy getting loans from western countries to degrade the economy instead of boosting it.