Today on KWIQ: 1 USDT = ₦1,331.77 · 1 BTC = ₦108,442,715
All rates →KWIQ Naira Crypto Report · September 2026
99.5% of naira payouts went to fintech accounts in September
Almost every payout went to a fintech account rather than a commercial bank. Litecoin (5.1%) and Solana (4.8%) took bigger shares of crypto sales by value, and the average rate KWIQ paid for USDT eased to ₦1,341, its lowest this year.
Based on anonymised sales on KWIQ in September 2026, and public market data. Percentages and rates only. How we measure
On KWIQ in September 2026
Bitcoin’s share of crypto sales
75.6%
USDT: 12.8%
Crypto’s share of all trades
99.9%
Gift cards: 0.1%
Payouts to fintech accounts
99.5%
Of payouts with a known bank
Crypto sales vs the month before
−8.7%
Change in the number of sales
What Nigerians sold on KWIQ
By naira value, Bitcoin was 75.6% of crypto sales and USDT 12.8%. The biggest of the other coins: LTC 5.1%, SOL 4.8%, USDC 0.1%.
View as a table
| Coin | Share of crypto sales |
|---|---|
| Bitcoin | 75.6% |
| USDT | 12.8% |
| Ethereum | 1.6% |
| Other coins | 10% |
USDT’s share, month by month
USDT’s share of crypto sales by value in each month of 2026 up to September 2026.
View as a table
| Month | USDT share of crypto sales |
|---|---|
| Jan | 1.6% |
| Feb | 9.4% |
| Mar | 5.3% |
| Apr | 2.6% |
| May | 3.1% |
| Jun | 4.2% |
| Jul | 16.4% |
| Aug | 28% |
| Sep | 12.8% |
Crypto vs gift cards
Crypto made up 99.9% of all trades on KWIQ by naira value, and gift cards 0.1%.
Which networks USDT arrived on
BNB Smart Chain (BEP20) carried 72.6% of USDT deposits.
View as a table
| Network | Share of USDT deposits |
|---|---|
| BNB Smart Chain (BEP20) | 72.6% |
| TRON (TRC20) | 16.8% |
| Ethereum (ERC20) | 10.5% |
| Other networks | 0% |
Where the naira went
99.5% of payouts went to fintech accounts rather than commercial banks.
Among payouts with a known receiving bank. The bank wasn’t recorded for 2.1% of payouts.
When people sold
Wednesday was the busiest day, and 10am to 11am the busiest hour (Lagos time).
Busiest day
Wednesday
Busiest hour
10am to 11am
Peak hour vs an average hour
+82.4%
Speed and new sellers
Half of all payouts were processed within 4 seconds of the request. 9.2% of sales came from people selling on KWIQ for the first time.
Median payout time
4 seconds
From withdrawal request to completion
Sales from first-time sellers
9.2%
The rates KWIQ paid
On average, KWIQ paid ₦1,341.48 per USDT in September 2026, across completed sales. Daily averages ranged from ₦1,334.74 to ₦1,349.03.
Average per USDT
₦1,341.48
Daily range, USDT
₦1,334.74–₦1,349.03
Average per BTC
₦107,109,820
These are rates KWIQ actually paid, not official exchange rates. For today’s rates, see crypto to naira rates.
The market in September 2026
Bitcoin at the end of the month
$83,556
Up 6.4% on the month
CBN official rate, end of month
₦1,328.66
Averaged ₦1,326.81 per dollar
USDT on Quidax, median day
₦1,370.82
3.3% above the official rate
Bitcoin in naira on Quidax
₦113,872,788
At the end of the month
Bitcoin and ether in dollars
Bitcoin rose 6.4% in September 2026, from $78,563 to $83,556, with a high of $87,397 and a low of $74,888. Ether rose 8.8%, to $2,684.
Bitcoin’s price at the end of each of the last 12 months, in US dollars.
View as a table
| Month | Bitcoin | Ether |
|---|---|---|
| Oct 2025 | $109,555 | $3,846 |
| Nov 2025 | $90,370 | $2,992 |
| Dec 2025 | $87,498 | $2,967 |
| Jan 2026 | $78,648 | $2,449 |
| Feb 2026 | $66,968 | $1,965 |
| Mar 2026 | $68,222 | $2,104 |
| Apr 2026 | $76,306 | $2,257 |
| May 2026 | $73,575 | $2,004 |
| Jun 2026 | $58,524 | $1,569 |
| Jul 2026 | $62,826 | $1,861 |
| Aug 2026 | $78,563 | $2,467 |
| Sep 2026 | $83,556 | $2,684 |
The naira: official and market rates
The CBN’s official rate stayed at about ₦1,326.81 per dollar. On Quidax, USDT traded between ₦1,361.29 and ₦1,375.22 a day, with a median of ₦1,370.82, 3.3% above the official rate.
Naira per dollar on Quidax, the median day of each month.
View as a table
| Month | Official | Market | Gap |
|---|---|---|---|
| Oct 2025 | ₦1,459.04 | ₦1,483.19 | +1.7% |
| Nov 2025 | ₦1,443.35 | ₦1,461.27 | +1.2% |
| Dec 2025 | ₦1,450.35 | ₦1,467.64 | +1.2% |
| Jan 2026 | ₦1,416.02 | ₦1,471.42 | +3.9% |
| Feb 2026 | ₦1,355.03 | ₦1,381.57 | +2% |
| Mar 2026 | ₦1,378.82 | ₦1,402.54 | +1.7% |
| Apr 2026 | ₦1,360.72 | ₦1,384.24 | +1.7% |
| May 2026 | ₦1,369.49 | ₦1,377.94 | +0.6% |
| Jun 2026 | ₦1,366.49 | ₦1,386.5 | +1.5% |
| Jul 2026 | ₦1,372.75 | ₦1,393.95 | +1.5% |
| Aug 2026 | ₦1,352.47 | ₦1,392 | +2.9% |
| Sep 2026 | ₦1,326.81 | ₦1,370.82 | +3.3% |
What it meant in naira
Two examples at Quidax’s prices, to show how the month’s moves added up for someone holding crypto in Nigeria. They aren’t the rates KWIQ paid.
- $100 in USDT was worth about ₦137,522 on the first day of the month and ₦136,129 on the last.
- 0.01 BTC was worth about ₦1,138,728 at the end of September 2026, against ₦1,078,751 a month earlier.
How we measure
- Bitcoin and ether prices are Coinbase’s daily prices in US dollars (UTC days): the first day’s opening price, the last day’s closing price and the month’s high and low.
- The official rate is the Central Bank of Nigeria’s central rate for the US dollar, on the days the CBN published one.
- The market rate is the naira price of USDT on Quidax, which provides KWIQ’s wallets: the median of its daily closing prices, counting only days with trades.
- KWIQ’s figures come from anonymised sales completed on KWIQ during the calendar month, in Lagos time, across KWIQ’s current and older selling systems.
- We publish percentages, indices and the rates KWIQ paid: never amounts, totals or anything about an individual user.
- Payout destinations are among payouts where the receiving bank was recorded. Fintech accounts include OPay, PalmPay, Moniepoint, Kuda and FairMoney; the rest are commercial banks.
- Payout time is the median time from a withdrawal request to the payout being marked complete, an approximation.
- The USDT network mix covers deposits through KWIQ’s current deposit system. The average Bitcoin rate covers the current selling system only.
Use this report
Journalists, bloggers and researchers are welcome to quote this report and its figures, with a credit to KWIQ and a link to this page. For interviews or more detail, email admin@kwiq.app. For today’s rates, see crypto to naira rates.
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