The move comes as regulatory authorities in the country have intensified their scrutiny of cryptocurrency exchanges in recent months. With investigations ongoing, the decision to delist the naira from P2P platforms underscores the government's commitment to ensuring stability and integrity in the financial system.

Notably, the announcement follows significant actions within the cryptocurrency space, including Binance, the largest cryptocurrency exchange, halting its naira services on March 8. These developments signal a shifting landscape in the regulatory environment surrounding cryptocurrencies and highlight the need for proactive measures to safeguard the interests of investors and maintain financial stability.