Buy crypto in Nigeria

Nigeria has enormous grassroots crypto adoption — consistently among the top countries globally — used as a hedge against naira inflation and for remittances. After years of banking restrictions, the Central Bank lifted its ban on banks serving crypto firms in late 2023, and the SEC now licenses digital-asset platforms under a new framework, moving the market toward formal regulation.

Despite progress, direct fiat rails to international exchanges remain patchy, so P2P trading dominates: buyers transfer naira directly to sellers via bank transfer, with the exchange's escrow protecting the crypto. Binance faced a major regulatory and tax dispute with authorities in 2024, making OKX, Bybit and local platforms like Quidax and Roqqu popular P2P alternatives. The 2023 Finance Act introduced a 10% tax on digital-asset gains.