Understanding Nigeria’s Crypto Rules: Is Trading Still Banned?

Many Nigerians still think crypto trading is completely banned. That belief stems from the 2021 CBN restriction that stopped banks from facilitating crypto transactions. Since then, the SEC has introduced digital asset regulations and the CBN has eased earlier limits. The Investments and Securities Act 2025 now formally recognises virtual assets under SEC oversight. Today, regulators focus on unregulated exchanges, P2P abuse, fraud, money laundering and investor protection. Crypto is moving from a “wild west” environment into a regulated financial system with stricter reporting, compliance, taxation and identity checks. The real question now isn’t whether crypto is banned, but how it will fit into Nigeria’s evolving financial and compliance framework.

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