Nigeria Regulates Cryptocurrency, Allows Ownership and Trading

Cryptocurrency is legal to own, buy, sell, and transfer in Nigeria, but it's regulated by both the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN).

The country has moved from restricting banks' involvement towards a framework that recognizes virtual assets as investments.

Nigerians can use compliant exchanges and wallets, but they should check if an online platform is recognized by the SEC before depositing their funds.