The naira finally has a worthy rival

BusinessDay | 08-09-2026 10:59am |

The IMF's 2026 Article IV consultation on Nigeria includes a dedicated annex on the rapid spread of cryptocurrencies in the country. The annex highlights the growing adoption of digital currencies as an alternative to the naira. This development is seen as a challenge to the traditional currency. The report underscores the need for regulatory clarity in Nigeria's financial system.

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