Nigeria moves to fully Adopt cryptocurrency

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The Nigerian Government has formed a working committee to explore the adoption of Stablecoins. This news was released on the 18th October 2025, when the Governor of Central Bank of Nigeria, Governor Olayemi Cardoso announced that the CBN with the ministry of Finance and other regulators has established a dedicated committee to explore the adoption of official Nigerian Stablecoin. Years back we witness the emergence of eNaira in 25th October, 2021, which most of its users are currently inactive according to IMF.
The purpose of this committee is to asses how stablecoins can be integrated into the Nigerian financial system.

Why is this an important news for Nigerians?
Nigeria, which is the largest country in Africa in population, with the population of about 220 Million people have about 22 - 30 million people using the crypto space mostly youth aged 18 - 35 years. According to Mular.co.
This will really help freelancers and other crypto users especially the onces that want to develop dapp for business. The dApp developers will be able to build wallets, DeFi tokenized asserts and blockchain finance that will be build by Africa and used by Africans making Nigeria and headquarters for Digital Technology in Africa.

Why will this be better than the e-Naira?
Years back we witness the emergence of e-Naira in 25th October, 2021, which most of its users are currently inactive according to IMF. The e-Naira was a good development but didn't give the people full control of their assert which crypto is capable of doing. It will be an open networks and will integrate the API system that will help those that want to build app using it.

This initiative shows the renewed institutional focus on developing a robust, regulated digital asset, aiming to foster innovation while ensuring financial stability. This moves shows that the Nigerian governments are close to joining other countries like El Salvador in adopting the digital currency.

Do you the Nigerian Government can make this happen?

Posted Using INLEO