Peanut Is Coming to Nigeria
Local naira spending is on the roadmap. You can already use Peanut today: deposit, hold, and send digital dollars from anywhere.
Nigeria receives approximately $20 billion in remittances every year, making it Africa's largest recipient. Workers in the United Kingdom and the United States send money home to family, and traditional remittance services charge 5-10% in combined fees and exchange rate markups on some corridors. That money should be going to rent, school fees, and daily expenses.
Nigeria also has Africa's most active fintech scene. Apps like OPay, Kuda, and Moniepoint are rapidly digitizing payments, and mobile money adoption keeps accelerating. Peanut is building on that momentum: local spending is on our roadmap, and the parts of Peanut that work everywhere already work in Nigeria today.
What Works in Nigeria Today
- Deposit digital dollars. Send USDC or USDT from any major exchange or external wallet on a supported network such as Tron, Solana, Arbitrum, or Ethereum. All deposits are free.
- Hold a dollar balance. Your funds stay in digital dollars until you spend or send them.
- Send money to anyone. Share a Peanut Link with anyone in Nigeria. They claim the funds into their own Peanut account instantly, with no fees on either end.
- Withdraw digital dollars. Move your balance to any external wallet whenever you want.
What is not live yet: converting your balance to naira inside Peanut. There is currently no naira payout, no Nigerian bank withdrawal, and no mobile money integration.
What Payment Methods Are Coming
Airtel Money
Airtel Money is one of Nigeria's key mobile money providers, enabling P2P transfers, bill payments, and merchant transactions through mobile phones. The broader Nigerian mobile money ecosystem also includes MTN MoMo, OPay, PalmPay, and Paga, each growing as Nigeria moves toward a cashless economy.
Airtel Money integration is planned as part of Peanut's local spending launch in Nigeria. There is no launch date yet, and we will announce it when it is live rather than promise timelines.
How Local Spending Will Work
- 1
Deposit funds
Add digital dollars to your Peanut balance from any major exchange or external wallet. All deposits are free.
- 2
Your balance stays in digital dollars
Your funds are held in digital dollars until you are ready to spend or send, with no exposure to naira fluctuations in the meantime.
- 3
Spend locally
When local spending launches, your digital dollars will convert to naira at the real market rate, shown live before you confirm.
What to Expect
The Nigerian naira has experienced significant depreciation in recent years, with a wide gap between official and parallel market rates at times. The CBN has moved toward a more market-driven exchange rate, but volatility remains a defining feature of the NGN landscape.
Holding your balance in digital dollars means it does not move with the naira while it sits in your account. When local spending launches, conversion will happen at the real market rate at the moment of payment, with the rate always shown before you confirm.
Who Will Use Peanut in Nigeria
Nigerians Abroad Sending Money Home
If you work in the United Kingdom or the United States and send money home, you can already send digital dollars to family in Nigeria with a Peanut Link, free on both ends. Today the recipient holds digital dollars and can withdraw them to an external wallet. When local spending launches, they will be able to spend in naira directly.
Freelancers and Remote Workers
Nigeria has one of Africa's most active freelancer communities. If you receive payments from international clients, you can receive digital dollars into Peanut today and hold a dollar balance. Local payout options will follow when spending launches.
Getting Started
Verification works with a passport or national ID card from any country and usually takes about two minutes. Once verified, you can deposit digital dollars and start sending right away.
FAQ
When will Peanut launch local spending in Nigeria?+
Local spending in Nigeria is planned, and there is no launch date yet. In the meantime, you can deposit, hold, send, and withdraw digital dollars in Nigeria today.
What payment methods will Peanut support in Nigeria?+
Airtel Money integration is planned for the local spending launch. Today, Peanut in Nigeria works with digital dollars: deposits, Peanut Links, and withdrawals to external wallets.
Can I send money to Nigeria with Peanut today?+
Yes. You can send digital dollars to anyone in Nigeria using a Peanut Link right now. The recipient claims the funds instantly and can withdraw them to an external wallet. Naira payout is not yet available.
Do I need a BVN to use Peanut?+
No. Verification works with a passport or national ID card from any country and usually takes about two minutes.
What does Peanut cost in Nigeria?+
Nothing. Deposits are free, sending is free, and receiving is free. When naira conversion launches, the rate will be the real market rate, always shown before you confirm.
