Despite regulatory crackdowns, Nigerians continue to show strong interest in cryptocurrencies, particularly in meme coins like Dogecoin (CRYPTO:DOGE) in the northern states of Katsina and Borno, and Bitcoin (CRYPTO:BTC) in Delta State.

In regions with limited banking infrastructure, stablecoin USDT (CRYPTO:USDT) is highly favored.

The persistent interest is driven by Nigeria's unstable currency and high inflation.

Senator Ihenyen, a Nigerian lawyer, advocates for a regulatory framework to manage the crypto industry effectively, emphasising the need for accurate understanding and support from authorities.

Cryptocurrencies are increasingly seen as an alternative to the scarce U.S. dollar and as a hedge against inflation.