NG · NGN
Nigeria digital banks
Nigeria is a mobile-money super-app market. Kuda, OPay, and PalmPay-class products compete on free transfers, cards, and agency networks — not on marble branches. CBN licensing (commercial bank, MMO, PSP) is the split that matters. Dollar cards and “blocked US services” are the consumer pain this market actually searches. We list licence type, card network, and whether USD / virtual cards are still issuing.
9Live on the desk
Regulator
Central Bank of Nigeria (CBN)
Deposit scheme
NDIC deposit insurance at licensed banks; limits and coverage follow NDIC rules
In this market
Licence still sits on the product| Product | Score | HQ | Monthly | FX | Users | Licence | |
|---|---|---|---|---|---|---|---|
 Trust Wallet | 7.6 | Global, United States | Free | Swap aggregator | 200M+ | See review | |
 Binance | 7.6 | Global / remote, United Arab Emirates | VIP fee tiers | Spot/futures fees; tight on liquid pairs | 200M+ | VASP / exchange licences by country | |
 RedotPay | 7.5 | Hong Kong, Hong Kong | Free virtual | Stablecoin to fiat conversion + scheme FX | 2M+ | Card programme + VASP stack | |
 MetaMask | 7.4 | New York, United States | Free | MetaMask Swaps aggregator fee | 100M+ | See review | |
 Bybit | 7.3 | Dubai, United Arab Emirates | Derivatives fee schedule | Trading fees | 50M+ | VASP by market | |
 Kuda | 7.2 | Lagos, Nigeria | Free core account | USD card / FX desks are product- and availability-dependent | 7M+ | Digital / commercial bank licence | |
 OPay | 6.8 | Lagos, Nigeria | Free wallet | Card FX when a dollar card is issued | 40M+ | MMO / PSP (confirm current class) | |
 ALAT | 6.8 | Lagos, Nigeria | Digital SKU — confirm live | Naira product; dollar card is a separate tariff if issued | Millions on Wema rails | Digital bank product of Wema Bank Plc | |
 Bankly | 6.2 | Lagos, Nigeria | MFB SKU — confirm live | Naira product | MFB-scale | Microfinance Bank — Bankly Microfinance Bank Limited |
Questions
Is Kuda a licensed bank?+–
Kuda is a licensed digital bank in Nigeria. Confirm the current CBN licence class on the Kuda legal pages before treating balances as NDIC-insured deposits.
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PeruCross-check the scoring weights and the graveyard before you treat a leftover landing page as live.