Sell Bitcoin in Nigeria (2026)

Status: Legal
Pays out in: Nigerian naira (NGN)
Exchanges paying out: 1 of 3
Last reviewed: 2026-08-12

1 of the 3 exchanges we recommend in Nigeria pays out in NGN: Luno. The rail is Bank transfer. The order below is the same ranking the buying guide uses; an exchange that appears there and not here publishes no NGN payout rail we could verify.

Where to sell and how the money comes out

Each recommended exchange that pays out in Nigeria, the rails it pays out on, and the fee and speed it publishes for each.
Exchange	Withdraw to	Fee	Speed	Note
Luno#1 in the buying guide	Bank transfer	Not recorded	processed every business day; some banks clear within a few hours, others up to two business days	Only to a bank account in your name.

"Not recorded" means the exchange's page we read carries no figure for that cell; the fee on the sale itself is separate and is on each review.

The payout rails in Nigeria

Bank transfer

Paid out by Luno.

A local bank transfer moves money between two accounts inside a single country's own payment system, with no correspondent bank and no currency conversion. The scheme is national and different everywhere: SEPA credit transfers and SEPA Instant in the euro area, FedNow and ACH in the United States, Pix in Brazil. The BIS counts fast payment systems live in more than 100 jurisdictions, and the FedNow Service, operated by the Federal Reserve since July 2023, runs a 24 hour business day every day including weekends and holidays. For someone funding an exchange in their own currency this is normally the cheapest option.

The rail itself: Instant rails settle in seconds, and the ECB requires euro instant credit transfers to reach the payee within ten seconds, 24 hours a day, 365 days a year, while older batch transfers still take one or two business days.

More about Local bank transfer Buying with Bank transfer in Nigeria

How a sale settles

Sell on Luno, or any exchange in the table
Luno ranks first in the Nigeria buying guide and pays out on Bank transfer.
Withdraw NGN to Bank transfer
Luno publishes no fee figure for this rail on the page we read.
Wait for the rail to clear
Luno states processed every business day; some banks clear within a few hours, others up to two business days for Bank transfer.

Frequently asked questions

Which exchanges let me cash out bitcoin to a bank in Nigeria?

1 of the 3 exchanges we recommend in Nigeria pays out in NGN: Luno. The rail is Bank transfer.

How long does a withdrawal take in Nigeria?

It depends on the exchange and the rail. Luno on Bank transfer: processed every business day; some banks clear within a few hours, others up to two business days. Each figure is the exchange's own, read from the page linked under sources.

Is selling bitcoin legal in Nigeria?

Bitcoin is legal in Nigeria and now actively regulated. The Investments and Securities Act 2025, signed in March 2025, expressly classifies digital and virtual assets as securities and gives the Securities and Exchange Commission oversight of virtual asset service providers, which must register or enter its Accelerated Regulatory Incubation Programme. The Central Bank of Nigeria lifted its banking restrictions in December 2023, so licensed platforms can hold naira banking relationships again.