IMF to Nigeria: Crypto Regulatory Framework Key to Halting Illicit Flows

IMF to Nigeria: Crypto Regulatory Framework Key to Halting Illicit Flows

In Brief Nigeria’s fragmented crypto regulatory framework has drawn sharp criticism from the IMF, which warns of capital flight, FX instability, and increased security threats. The country’s booming crypto economy—driven by stablecoins and cross-border payments—has outpaced the development of effective oversight and enforcement tools. The IMF recommends urgent, enforceable, and coordinated regulation aligned with global standards to prevent l…