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Nigeria Records $50 Billion Crypto Transactions Amid Low Capital Market Participation

Nigeria Records $50 Billion Crypto Transactions Amid Low Capital Market Participation

Sputnik Africa

Nigeria Records $50 Billion Crypto Transactions Amid Low Capital Market ParticipationNigeria’s cryptocurrency market processed $50 billion in transactions... 27.10.2025, Sputnik Africa

2025-10-27T16:38+0100

2025-10-27T16:38+0100

2025-10-27T16:44+0100

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Nigeria Records $50 Billion Crypto Transactions Amid Low Capital Market ParticipationNigeria’s cryptocurrency market processed $50 billion in transactions between July 2023 and June 2024, local media reported, citing Securities and Exchange Commission director-general Emomotimi Agama.Despite this booming activity, fewer than 4% of adults invest in the traditional capital market. Agama highlighted a worrying contrast: under three million Nigerians invest in stocks, while over 60 million participate in daily gambling, spending about $5.5 million each day.He warned that this trend slows economic growth, noting the country’s market cap-to-GDP ratio remains around 30%.Subscribe to @sputnik_africa Sputnik Africa | X

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