Can banks facilitate crypto transactions in Nigeria?

In the realm of cryptocurrency and finance, the question of whether banks in Nigeria can facilitate crypto transactions remains a pertinent one. Given the growing popularity of digital currencies in the country, it begs the question: do local banks possess the necessary infrastructure and regulatory approval to handle such transactions? Cryptocurrencies, by their nature, operate on decentralized networks, yet banks, as traditional financial institutions, play a crucial role in facilitating financial transactions. Therefore, it is crucial to understand if and how Nigerian banks can integrate crypto transactions into their services, considering the regulatory landscape and technological capabilities.