IMF warns as Nigeria captures 60% of SSA stablecoin inflows

•Flags risks to monetary policy, financial integrity
•As Nigeria ranks 2nd globally, with  $59bn  crypto inflows 
By Emma Ujah &   Elizabeth Adegbesan 
The International Monetary Fund (IMF) has disclosed that Nigeria accounts for about 60 percent of stablecoin inflows into Sub-Saharan Africa,SSA, while warning that the growing use of dollar-backed digital assets could pose risks to monetary policy and financial stability.
In its latest report, the IMF stated: “Within sub-Saharan Africa, Nigeria accounts for roughly 60 percent of stablecoin inflows since 2019. Stablecoins now form a key bridge between crypto markets and the traditional financial system.”
The Fund added: “The scal...