Data sources · scoring · re-check schedule
The ranking is compiled from exchanges' published fee schedules, SEC Nigeria and NRS notices, and public review data — re-checked monthly. If an exchange fails a check, it drops, regardless of who pays us.
Every venue is checked against the SEC's ARIP register and the ISA 2025 framework, then labelled exactly: licensed (provisional or AIP), offshore, or marketplace. Approvals-in-principle are always dated and attributed to their legal entity.
P2P premium, spread, stamp duty, withdrawal fee and VAT are summed into one all-in number from each venue's published fee schedule. Stamp duty (1.5% of the naira leg, Ninth Schedule item 33) applies at every venue, so it's included for all.
Deposit and withdrawal routes are verified against each venue's published funding options — bank transfer, cards, USSD — with fees in plain naira, cross-checked against recent user reports.
Each desk's published escrow and dispute rules are read line by line, and public support experience is weighed. Claims that can't be verified against a primary source don't make the page.
Every venue gets a 0–10 score from four weighted factors. Licence standing is heaviest by design: supervision by Nigeria's SEC is the hardest thing to buy and the easiest thing to check.
The full ranking is re-checked monthly. Current edition: 17 September 2026. Primary sources: SEC Nigeria ARIP register · NRS Virtual Asset Tax Guidelines (31 Jul 2026) · CBN circulars · Chainalysis 2025 Adoption Index · public review pages on Trustpilot.
Review scores for venues marked "reported" on the main page are widely circulated aggregates we couldn't re-verify this month — they're labelled rather than presented as checked. Fee promotions change faster than monthly cycles; always confirm on the exchange's own fee page before trading.