Abuja is set to recognize cryptocurrency under the 2025 Nigerian Investment and Securities Bill, pending President Bola Tinubu’s approval. This marks a shift from previous hostility, granting legal status to crypto exchanges and digital assets, excluding fiat-backed digital money. Nigeria’s crypto adoption surged in response to economic instability, particularly after the 2015 oil price crash and naira depreciation. The new law aims to regulate the sector while mitigating financial risks. As the country moves forward with crypto-friendly policies, it balances innovation with caution to stabilize its economy and manage currency volatility.
Source: African Business
