The IMF’s 2026 Article IV consultation on Nigeria includes a dedicated annex on the rapid spread of cryptocurrencies in the country.
Between July 2023 and June 2024, Nigeria received approximately $59 billion in crypto-asset value, according to Chainalysis data cited by the IMF.
Stablecoins accounted for more than 65 percent of crypto inflows in 2024, and Nigeria represented around 60 percent of all stablecoin inflows into Sub-Saharan Africa between late 2019 and early 2025.
What are stablecoins?
Stablecoins are digital tokens designed to hold a stable value against a reference asset—most commonly the U.S. dollar. For most users, they function as digital dollars: an asset that can be held in a wallet, transferred across borders, or exchanged into naira.
