Tuesday, 16 June, 2026
Digital Dollarization: Surging Stablecoin Use in Nigeria Threatens Monetary Control
By TechShots Studio
Driven by inflation and a volatile naira, Nigerians are increasingly turning to U.S. dollar-pegged stablecoins for cheap, rapid cross-border payments. The International Monetary Fund (IMF) reports that Nigeria now commands roughly 60% of Sub-Saharan Africa’s stablecoin inflows. While these digital tokens bypass costly traditional remittance channels, the IMF warns this widespread "digital dollarization" risks weakening local monetary policy and complicating financial regulation.
Read full story at REUTERS