The Nigerian government is considering banning P2P trading platforms due to concerns about Naira manipulation. This proposal, accompanied by legal disputes with major exchanges, raises uncertainties about the future of crypto in Nigeria.

The Nigerian Securities and Exchange Commission accuses crypto participants and exchanges of manipulating the Naira's value through P2P transactions. This situation has prompted discussions about delisting the Naira from P2P platforms as a solution. If the ban is implemented, Nigerian crypto investors would face significant restrictions, as P2P platforms are a common and cost-effective method of buying and selling crypto using the local currency. The delisting of the Naira could create obstacles for Nigerians looking to enter and exit the crypto market, potentially slowing down its expansion and acceptance.