<s>
Cryptocurrency	B-Protocol
in	I-Protocol
Nigeria	I-Protocol
describes	O
the	O
extent	O
of	O
cryptocurrency	O
use	O
,	O
social	O
acceptance	O
and	O
regulation	O
in	O
Nigeria	O
.	O
</s>
<s>
The	O
most	O
traded	O
pair	O
is	O
Bitcoin/Naira	O
,	O
and	O
other	O
cryptocurrencies	O
popular	O
in	O
Nigeria	O
include	O
Dash	B-Protocol
and	O
Ripple	B-Protocol
.	O
</s>
<s>
Bitcoin	B-Protocol
was	O
initially	O
looked	O
upon	O
with	O
scepticism	O
and	O
associated	O
with	O
ponzi	O
schemes	O
such	O
as	O
Bitconnect	B-Protocol
,	O
OneCoin	B-Application
and	O
Mavrodi	O
Mudial	O
Moneybox	O
(	O
MMM	O
)	O
.	O
</s>
<s>
Scams	O
were	O
commonplace	O
in	O
Nigeria	O
and	O
Bitcoin	B-Protocol
was	O
often	O
used	O
as	O
a	O
tool	O
for	O
the	O
victims	O
of	O
the	O
scams	O
to	O
make	O
payments	O
as	O
such	O
Bitcoin	B-Protocol
was	O
not	O
separated	O
in	O
the	O
perception	O
of	O
the	O
people	O
from	O
these	O
scams	O
.	O
</s>
<s>
Over	O
time	O
,	O
these	O
negative	O
associations	O
lessened	O
due	O
to	O
factors	O
that	O
promoted	O
the	O
use	O
of	O
bitcoin	B-Protocol
and	O
cryptocurrencies	O
.	O
</s>
<s>
Similarly	O
,	O
people	O
have	O
had	O
their	O
bank	O
accounts	O
blocked	O
by	O
authorities	O
for	O
participation	O
in	O
the	O
End	O
SARS	O
anti-police	O
brutality	O
protests	O
,	O
leading	O
to	O
increased	O
use	O
of	O
digital	O
currencies	O
with	O
bitcoin	B-Protocol
trending	O
on	O
Twitter	O
at	O
the	O
time	O
of	O
the	O
protests	O
.	O
</s>
<s>
In	O
2016	O
the	O
Nigeria	O
Deposit	O
Insurance	O
Commission	O
(	O
NDIC	O
)	O
and	O
the	O
CBN	O
set	O
up	O
a	O
commission	O
to	O
look	O
into	O
Bitcoin	B-Protocol
after	O
it	O
became	O
a	O
relevant	O
topic	O
following	O
the	O
shutdown	O
of	O
the	O
ponzi	O
scheme	O
,	O
Mavrodi	O
Mudial	O
Moneybox	O
(	O
MMM	O
)	O
that	O
was	O
active	O
in	O
Nigeria	O
.	O
</s>
<s>
MMM	O
had	O
announced	O
it	O
would	O
be	O
adopting	O
Bitcoin	B-Protocol
.	O
</s>
