A new report has shown that about 40% of Nigerians now rely on cryptocurrency for international money transfers, placing the country among the most advanced markets globally in cross-border digital payments. The findings, published in the Cross-Border Payments Interoperability Index by Thunes in partnership with Juniper Research, ranked Nigeria as a key driver of innovation in global money movement.
The study, which covered over 6,500 consumers across 10 markets and benchmarked 50 countries, found Nigeria’s crypto usage for cross-border transactions far above the global average of 11%. It attributed the trend to persistent macroeconomic pressures, currency volatility, and a young, tech-savvy population increasingly turning to digital assets for faster and more flexible payment options. Meanwhile, regulatory developments are shaping the sector’s outlook as Nigeria’s Securities and Exchange Commission (SEC) enforces new capital requirements for crypto exchanges, with compliance expected by June 30, 2027. The move, which brings previously informal operators under a structured framework, is seen as a step toward stronger oversight and improved investor confidence in the country’s growing digital asset ecosystem.
