How Everyday Merchants in Abuja are using USDT & cNGN in 2026 - On the ground re

[Son $f Grace]

How Everyday Merchants in Abuja are using USDT & cNGN in 2026 - On the ground report

Good day everyone, am reaching to you guys from ABJ, Nigeria. I want to share with us what am seeing on ground currently cause this numbers for this year are wild.
Multiple reports this pass year for context has put in Nigeria at the top, globally for P2P trading. Between July 2025 to June 2026, a report that has circulated here put our volume at over $92 billion, and the Chainalysis Global Adoption Index (2026) still ranks us at #1 for P2P activity globally. Walking around this Garki or Wuse axis believe it almost every of this young POS/ Freelancer has an P2P app being open.

How Users are Surviving Inflation

This aren’t just about profit trading, people are actually forced to act due to Naira has really lost value.
Let me brief you guys a little
I have a friend of mine who is a graphics designer, this guy design for client abroad and once he gets paid he does not leave his money in Naira, prefers to convert his money to USDT immediately.
Same goes to one of my female friends. She’s a shop owner she do saves her weekly profit in USDT, she does this because if she leave it in the bank it will buy less by next month.
Honestly to protect wealth from inflation, USDT has really basically become our saving box.

The Rise of cNGN and Local Exchanges
Trust this what has changed in 2026, since when Quidax and Busha has gotten their SEC Approval in Principle under ARIP. A lot of users that I know in person are comfortable using local exchange.
And again we now have the cNGN, the SEC approved Compliant Naira stablecoin. I see businesses starting to test this for domestic settlement, it early and retail adoption is still slow.
The idea, on Base/BSC you can pay a local contractor in cNGN having not to worry with usual bank network failures, we do usually get with traditional transfers mostly weekends.
This aren’t replacing USDT for savings but locally moving Naira faster, attention is got because it 1:1 backed and regulated.

Conclusion & Question
Yeah, here right now it a dual system cNGN to move Naira faster locally while USDT to protect value.

In your city right now how’s stablecoin adoption loooking like ? Is everyone still just using USDT/USDC ? Or Are people using local stablecoins like cNGN.

[PostQuantumBTC]

Yeah, here right now it a dual system cNGN to move Naira faster locally while USDT to protect value.

People are moving naira locally fast with the use of good banks and fintech like Palmpay, Opay, Moniepoint, Kuda

USDT and other stable coins are still having inflation but because USD is not declining like naira, that is the reason you think it is better. I will prefer to buy bitcoin instead and hold it while leaving little in naira.

Naira is not as bad as it was few years ago. Naira is stronger than before.

[Big Dirams]

Yeah, here right now it a dual system cNGN to move Naira faster locally while USDT to protect value.

People are moving naira locally fast with the use of good banks and fintech like Palmpay, Opay, Moniepoint, Kuda

USDT and other stable coins are still having inflation but because USD is not declining like naira, that is the reason you think it is better. I will prefer to buy bitcoin instead and hold it while leaving little in naira.

Naira is not as bad as it was few years ago. Naira is stronger than before.

But the OP clearly said that this isn’t just about profits for them it just that they are trying to escape the inflation of naira so they prefer much of holding in stable coins at least with that they don’t need to worry about the price of usdt falling or losing more value like naira. So basically those guys won’t like to convert to bitcoin because it is volatile and they might end up coming back to what there are running from because they aren’t here to hold for long term and In few years or months they will be ready to take their money and who knowns where bitcoin price would be so instead of them coming to meet their money reduces they should instead stay on those stable coins.

Your idea is reasonable but I don’t think it would be in their best interest right now, this guys are just here for short term and like we always said much benefits doesn’t lays in short term holding of bitcoin so it will be better for them to stay on stable coin since no volatility there and in bitcoin there is volatility.

[PostQuantumBTC]

But the OP clearly said that this isn’t just about profits for them it just that they are trying to escape the inflation of naira so they prefer much of holding in stable coins at least with that they don’t need to worry about the price of usdt falling or losing more value like naira. So basically those guys won’t like to convert to bitcoin because it is volatile and they might end up coming back to what there are running from because they aren’t here to hold for long term and In few years or months they will be ready to take their money and who knowns where bitcoin price would be so instead of them coming to meet their money reduces they should instead stay on those stable coins.

But there is also inflation in the United States, but like I said it is not noticeable like how it is in Nigeria. But if you go akd be living in the US, you will know what I am talking about.

You do not need to only hold bitcoin, you can also buy gold, better stocks and other valuable assets.

You like it or not, bitcoin is one of the investments to go for people in US than saving just dollar.

Your idea is reasonable but I don’t think it would be in their best interest right now, this guys are just here for short term and like we always said much benefits doesn’t lays in short term holding of bitcoin so it will be better for them to stay on stable coin since no volatility there and in bitcoin there is volatility.

Back to the main point. If it is short term, he can just use his naira. The time of high inflation has passed, naira is more stable than before. Naira is doing better like US dollar right now.

People can successfully do business in naira and make money and grow.

[Doan9269]

Good day everyone, am reaching to you guys from ABJ, Nigeria. I want to share with us what am seeing on ground currently cause this numbers for this year are wild.
Multiple reports this pass year for context has put in Nigeria at the top, globally for P2P trading. Between July 2025 to June 2026, a report that has circulated here put our volume at over $92 billion, and the Chainalysis Global Adoption Index (2026) still ranks us at #1 for P2P activity globally.

I cannot dispute this especially in Africa, Nigeria seems to be the leading P2P users, even one of the top around the world, but you would have just clarified this and make it more perfect by giving the link that buttress the fact, reference link is always necessary in giving data information like this.

The Rise of cNGN and Local Exchanges
Trust this what has changed in 2026, since when Quidax and Busha has gotten their SEC Approval in Principle under ARIP. A lot of users that I know in person are comfortable using local exchange.
And again we now have the cNGN, the SEC approved Compliant Naira stablecoin. I see businesses starting to test this for domestic settlement, it early and retail adoption is still slow.
The idea, on Base/BSC you can pay a local contractor in cNGN having not to worry with usual bank network failures, we do usually get with traditional transfers mostly weekends.
This aren’t replacing USDT for savings but locally moving Naira faster, attention is got because it 1:1 backed and regulated.

This may not be a perfect idea for me because I also heard about the news when government approved some specific exchange platforms to operate their services in Nigeria, but you all know the consequence of all this, it gives them control over our financial circumstances because we are going to be identified under this platforms and also provide them with our KYC, after they just realized that e-naira could not produce the required result they needed, they also have to refurbished the entire procedures to another thing else using a third party platforms like those exchanges we often depend on, just be careful when using them and remember they will still make profit from you at last.

Conclusion & Question
Yeah, here right now it a dual system cNGN to move Naira faster locally while USDT to protect value.

In your city right now how’s stablecoin adoption loooking like ? Is everyone still just using USDT/USDC ? Or Are people using local stablecoins like cNGN.

There is nothing like this in my own city currently as we speak, but I know of Abuja and Lagos or even Port Harcourt would have started something related to this being the major cities for commercial activities in Nigeria.

What value does cNGN is still to me and not cryptocurrency and having it in usdt does not even profit me because I prefer holding my assets under a volatile currency like bitcoin, having them on stable coins does not benefit me at all except I am only holding for a short time before using them to exchange for crypto.

[ZeroVinsonN]

Your idea is reasonable but I don’t think it would be in their best interest right now, this guys are just here for short term and like we always said much benefits doesn’t lays in short term holding of bitcoin so it will be better for them to stay on stable coin since no volatility there and in bitcoin there is volatility.

Back to the main point. If it is short term, he can just use his naira. The time of high inflation has passed, naira is more stable than before. Naira is doing better like US dollar right now.

People can successfully do business in naira and make money and grow.

I think this is the point most people keep missing, they assume that because the dollar has more value than the naira, that automatically means that the dollar is doing better than the naira but the truth is that for a while now the naira has been in a really good place, most of the change we've seen recently when comparing the dollar to the naira actually comes from the dollar losing value and the naira gaining value.
This isn't to say that the naira is better than the dollar but that our currency has been quite stable for a while now, I can't speak for very far into the future but currently saving in naira isn't a bad thing to do.
Infact, rather than saving in the dollar as a means of storing value I would rather keep that money in bitcoin if I plan on keeping it there for long but if it's a short term saving then the naira is as good as any place to keep my money right now.

[Son $f Grace]

Thank you all for the engagement and different perspectives, this really insightful to see how this is viewed outside of my immediate circle here.

I cannot dispute this especially in Africa, Nigeria seems to be the leading P2P users, even one of the top around the world, but you would have just clarified this and make it more perfect by giving the link that buttress the fact, reference link is always necessary in giving data information like this.

This absolutely right abd also appreciate this correction. Absolutely the data regarding the $92.1 billion transaction volume it actually came from Chainalysis Sub Saharan Africa reporting metrics covering the July 2024 to June 2025. And actually for the reference I could have include the source in the OP.
Here with me is one of the local publications breaking down which specific Chainalysis data:
https://businessamlive.com/nigeria-tops-sub-saharan-africas-crypto-market-with-92bn-in-value/

This may not be a perfect idea for me because I also heard about the news when government approved some specific exchange platforms to operate their services in Nigeria, but you all know the consequence of all this, it gives them control over our financial circumstances because we are going to be identified under this platforms and also provide them with our KYC...

Regarding privacy this a valid concern and I do agree with on this. The KYC heavy requirements do defeat the original ethos of crypto, this the reason why cNGN is really struggling with retail adoption and you see that it tested only by registered businesses who are in the government tax net already. That why USDT and decentralized P2P remains the standard for the average citizen who do value their privacy and want to avoid financial surveillance.

But the OP clearly said that this isn’t just about profits for them it just that they are trying to escape the inflation of naira so they prefer much of holding in stable coins at least with that they don’t need to worry about the price of usdt falling or losing more value like naira.

Big Dirams I regard you for this, this exactly what I was trying to express. If you check it carefully a local shop owner won’t be able to afford their capital into a volatile asset like that of Bitcoin if they have plans of buying new inventory any time soon or next week.
Just imagine a sudden 10% dip, this will just wipe out those entire business capital.For a cash flow preservation they use a stable coin not really for a long term investment gains.

But there is also inflation in the United States, but like I said it is not noticeable like how it is in Nigeria... You like it or not, bitcoin is one of the investments to go for people in US than saving just dollar.

No doubt, I accept that holding Bitcoin is the ultimate long term wealth strategy and also yes the USD has its own inflation issues. But on the ground here, merchant surviving a 3% USD inflation rate Oke a year is a luxury compared to heavy devaluation they have experience with local fiat, USDT it just for the inventory they have to buy tomorrow while Bitcoin is mostly for the wealth that can afford to hold.

[Charles-Tim]

No doubt, I accept that holding Bitcoin is the ultimate long term wealth strategy and also yes the USD has its own inflation issues. But on the ground here, merchant surviving a 3% USD inflation rate Oke a year is a luxury compared to heavy devaluation they have experience with local fiat, USDT it just for the inventory they have to buy tomorrow while Bitcoin is mostly for the wealth that can afford to hold.

There was high inflation in Nigeria before 2026, but the price of 1 United States dollar to naira in January 2925 was around $1420. It increased as high as 1450 but not eben up to 1450, not the price today is around $1370 at the end of September 2026.

It is not as worse as you think or are you speculating that what happened to the price of naira before 2026 that it increased from $485 to almost $2000 is still possible?

[Chinesebaby]

How Everyday Merchants in Abuja are using USDT & cNGN in 2026 - On the ground report

Good day everyone, am reaching to you guys from ABJ, Nigeria. I want to share with us what am seeing on ground currently cause this numbers for this year are wild.
Multiple reports this pass year for context has put in Nigeria at the top, globally for P2P trading. Between July 2025 to June 2026, a report that has circulated here put our volume at over $92 billion, and the Chainalysis Global Adoption Index (2026) still ranks us at #1 for P2P activity globally. Walking around this Garki or Wuse axis believe it almost every of this young POS/ Freelancer has an P2P app being open.

I don't see anything new here, because converting ones funds after receiving payment from a foreign client is one practice that have been around for many years now, most especially as dollar started getting more exchange rate value to our Naira currency. And using an exchange that can easily help you do such conversion conveniently is one thing that have never been a challenge, since with the likes of Remitano and Binance before they delisted our Nigerian NGN digital currency, it was very easy for such people to convert at ease. And today, most especially as we approach the bullish period, converting to Bitcoin is one thing I personally do to avoid my funds losing its value due to inflation affecting our currency.