Nigeria Needs Robust Stablecoin Framework To Safeguard Economy – IMF

The International Monetary Fund (IMF) has called on Nigerian authorities to strengthen regulation around stablecoins and other crypto assets, warning that their expanding use could undermine monetary policy, financial stability, and capital flow management if left unchecked.
The Fund’s position comes amid rising adoption of stablecoins across emerging markets, including Nigeria, where cryptocurrency usage remains among the highest globally, driven by demand for alternative payment systems, remittances, and hedging against currency volatility.
The IMF noted that while stablecoins offer advantages such as faster and cheaper cross-border transactions, their rapid growth could expose coun...