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Nigeria's Chairman of the House of Representatives Committee on Capital Market and Institutions, Babangida Ibrahim, revealed despite the country banning cryptos in The Central Bank of Nigeria’s initiative to launch the national digital currency, eNaira, proved to be a complete failure. The government decided to allow the usage of Bitcoin A local Nigerian newspaper has reported that Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Market and Institutions of Nigeria According to local media reports, Nigeria, a country in West Africa, will shortly enact a law recognizing the use of Bitcoin and other digital currencies to stay current Hace 14 horas The confusion stems from a long-standing tug-of-war between regulators. In 2025, the Central Bank of Nigeria (CBN) issued a directive barring financial institutions from Nigeria is planning to push a law to legalize the usage of bitcoin and cryptocurrencies, backpedaling its stance on the industry. An arduous transition awaits Bitcoin businesses, as they now have a clear path to formalize their operations by seeking the appropriate licenses (when available) from

Bitcoin Nigeria: Is Legalization on the Horizon? Is Nigeria considering a dramatic U-turn on cryptocurrency? Recent reports suggest a potential shift, with the possibility of legalizing Bitcoin and other digital currencies. This comes after a period of intense regulatory scrutiny and a previous ban by the Central Bank of Nigeria (CBN).

The Backstory: A Tug-of-War Between Regulators The situation in Nigeria has been complex. In 2025, the CBN issued a directive barring financial institutions from dealing with crypto, creating confusion and uncertainty. The move followed the Central Bank of Nigeria’s initiative to launch the national digital currency, eNaira, which proved to be a complete failure.

New Hope for Crypto Adoption: A Law in the Works? According to local media reports, Nigeria, a country in West Africa, will shortly enact a law recognizing the use of Bitcoin and other digital currencies to stay current. This news signals a significant backpedaling of its stance on the industry. This potential legislation could open doors for broader adoption and innovation within the Nigerian financial landscape.

Key Figure: Babangida Ibrahim's Role Nigeria's Chairman of the House of Representatives Committee on Capital Market and Institutions, Babangida Ibrahim, has been instrumental in these discussions. A local Nigerian newspaper has reported that Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Market and Institutions of Nigeria, is at the forefront of pushing for crypto regulation.

What Legalization Means for Bitcoin Businesses in Nigeria An arduous transition awaits Bitcoin businesses, as they now have a clear path to formalize their operations by seeking the appropriate licenses (when available) from relevant authorities. This potential legalization marks a significant step forward, providing a clear path to formalize operations by seeking the appropriate licenses (when available).

Bitcoin Nigeria: Looking Ahead While details are still emerging, the possibility of Nigeria legalizing Bitcoin represents a major development for the African crypto market. Keep checking back for updates as this story develops.

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