Nigeria’s SEC boss says crypto can aid 38M unbanked
Emomotimi Agama noted that cryptocurrencies like Bitcoin can considerably lower remittance costs, making it easier and cheaper for Nigerians abroad to send money home.
The Director General of the Securities and Exchange Commission (SEC) in Nigeria, Emomotimi Agama, has highlighted the potential of cryptocurrency to significantly benefit the country’s unbanked population.
According to local news media, at the 2024 Annual Conference of the Association of Capital Market Academics of Nigeria, Agama projected that Nigeria’s cryptocurrency market would reach $52.5 million by 2028.
Agama noted that Nigeria’s cryptocurrency market is currently valued at over $400 million, with a substantial portion of the population engaged in crypto trading and transactions.
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