Nigerians are among the most interested investors in ether cryptocurrency worldwide, a new report shows.

The new study placed Nigeria on the list of the top 20 countries interested in ether cryptocurrency. According to data released by INvezz, a cryptocurrency advisory platform, Nigeria ranks 17th in the world with an average of 42,900 online searches for ether and 11,430 searches for the currency’s price monthly.

The report also placed the United States as the country topping the search list of ether currency with a substantial average of 1,116,000 online searches a month.

Jayson Derrick, a cryptocurrency expert with INvezz, projected a transformation in the financial market by 2023.

Mr Derrick predicted that the role of ether currencies in financial transactions would be exponentially higher in the coming years.

“By 2030, the world of finance will likely not at all resemble what it looks like today, and this is apparent to anyone paying even minimal attention. The extent that Ethereum will play in terms of financial transactions and smart contracts will be exponentially higher over the coming years,” Mr Derrick explained.

The interest of Nigerians in the cryptocurrency market is growing despite the restrictions placed on it by the Central Bank of Nigeria.

In February, the CBN ordered banks and other financial institutions to close customer accounts used in trading cryptocurrencies and other related transactions. 

The Nigerian bank regulator ordered banks, non-bank financial institutions, and other financial institutions to “identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately.”

However, in a reverse move on Tuesday, the apex bank announced Nigeria would create its digital currency.

CBN governor Godwin Emefiele said the idea of a digital currency would soon become a reality in the country as the bank had already set up a committee to work on the concept.