CryptoNov 7, 2026, 7:55 AM UTC·1 min read

Nigeria's CBN wants every crypto P2P payment tied to a bank transaction

The Central Bank of Nigeria wants each crypto peer-to-peer payment linked to a bank transaction, giving it a clearer view of who moves money on P2P platforms.

The Central Bank of Nigeria (CBN) has introduced new rules requiring every crypto peer-to-peer (P2P) payment to be linked to a bank transaction.

The measure underscores the regulator's push to tighten its grip on crypto trading in Africa's most active digital-asset markets. By tying P2P settlements to the banking system, the CBN gains greater visibility into who moves money through these platforms.

What changes for P2P trading

P2P platforms let users trade crypto directly with one another rather than through a conventional exchange order book. Under the new approach, the fiat side of each trade must be traceable to a bank transaction, which makes it easier for authorities to see the people and accounts involved.

Why it matters

For traders, the change points to closer scrutiny of payments made on P2P platforms. For platforms and the banks that process their payments, it signals that transaction records will matter more under the CBN's oversight.

The move fits the central bank's broader effort to bring crypto activity into view of the formal financial system. Detailed implementation steps and deadlines were not part of the material available at the time of writing.

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Tags:cbnnigeriacryptop2pregulation