Mbah Casmir

Over the past few years, few topics in Nigeria’s financial sector have generated as much confusion as cryptocurrency regulation. Many Nigerians remember when banks stopped facilitating transactions involving cryptocurrency. Others remember the headlines about restrictions, warnings, and regulatory uncertainty. Then came another round of headlines suggesting that the government had changed its position and that cryptocurrency was now allowed again.

Financial identity used to be shaped by location. A Nigerian living in Surulere operated within a completely different financial reality from a Nigerian living in London. One relied on local banking systems, the other had access to a different set of financial tools, currencies, and networks. For decades, geography determined how Nigerians interacted with money.

Running a business in Nigeria has never been easy, but many SME owners would agree that the current economic environment presents a unique set of challenges.