Odaily Planet Daily News: Emomotimi Agama, chairman of the Nigerian Securities and Exchange Commission, predicted at a press conference on Friday that despite the country's recent crackdown on exchanges, cryptocurrency trading volumes will increase in the coming years. Agama said: "The country's cryptocurrency market is estimated to be worth more than $400 million, and a considerable portion of the population is involved in cryptocurrency trading." Nigeria has a thriving cryptocurrency market and ranks 11th in the 2022 Global Cryptocurrency Adoption Index released by Chainalysis. Despite the Central Bank of Nigeria's continued ban on banks in the country from conducting cryptocurrency transactions, the country's index ranking in 2023 still jumped to second place. According to Agama, at least 33.4% of the country's population owns or uses cryptocurrencies. (Decrypt)
