*Seeks elimination of alleged multiple exchange rates
IMF warns Nigeria's growing use of USD stablecoins risks monetary sovereignty and 'digital dollarisation' amid central bank's multiple exchange rates. The escalating crypto adoption signals intensifying regulatory tension between fintech innovation and state monetary control globally.
The IMF said stablecoin adoption in Nigeria is testing monetary and regulatory frameworks, while warning of digital dollarization risks.
Nigeria drives 60% of sub-Saharan stablecoin flows (~$22B/yr); IMF warns digital dollarization weakens central bank control. Stablecoins becoming macroeconomic variables; Nigeria's pivot to regulation signals central banks' template for managing currency collapse.
Nigeria's growing use of dollar-pegged stablecoins is reshaping how households and businesses move money across borders, reducing payment...
Nigeria accounts for about 60% of sub-Saharan Africa’s stablecoin inflows, but the IMF says rising use of digital dollars could challenge monetary policy and financial stability
LAGOS, June 16 : Nigerians are increasingly turning to U.S. dollar-pegged digital tokens, or stablecoins, to move money across borders, as households and small businesses seek cheaper and faster alternatives to…
LAGOS, June 16 : Nigerians are increasingly turning to U.S. dollar-pegged digital tokens, or stablecoins, to move money across borders, as households and small businesses seek…
Efforts to suppress stablecoin use are “likely to be only partly effective,” the International Monetary Fund’s researchers said.
IMF warns Nigeria's $22 billion stablecoin market risks undermining monetary sovereignty, says suppression efforts will be only partly effective.
The IMF flags pronounced risks from Nigeria's rapid stablecoin adoption, warning of digital dollarization and threats to monetary sovereignty in its 2026
• Seeks stronger regulation, better oversight of digital asset transactions