Nigeria is taking steps towards wider crypto adoption, shifting away from previous hesitancy and toward a new regulatory framework for digital currencies. A newly formed ad hoc committee will review the economic, security, and legal implications of cryptocurrency use in Nigeria’s financial ecosystem. The move follows years of fluctuating policies on digital assets, including the 2021 ban by the Central Bank of Nigeria (CBN) which fueled widespread controversy and pushed crypto activity underground. The latest push towards integration comes as recent reports highlight Nigeria’s position as a leader in crypto adoption, receiving $92.1 billion in on-chain value between July 2024 and June 2025, representing nearly half of Sub-Saharan Africa’s total digital asset activity. The committee will also focus on consumer protection through regulations for Virtual Asset Service Providers (VASPs), aiming to balance innovation with safeguarding users from fraud. The ad hoc committee is expected to gather public feedback, informing the development of new legislation that will determine how crypto will integrate into everyday commerce, particularly through Point-of-Sale (POS) systems and payments.