With one of the largest Bitcoin markets in Africa, Nigerian authorities have confirmed that they want to investigate potential methods to control it.

The Senate of Nigeria has asked for officials to explore bitcoin trading within the country. Furthermore, Ike Ekweremadu, the Deputy Senate President also asked for recommendations on Bitcoin\'s control and best practices.

It has also been revealed that Nigerian lawmakers have requested that the Nigeria Deposit Insurance Corporation, the Nigerian Stock Exchange and the Central Bank of Nigeria are to create and maintain a movement opposing the associated risks with bitcoin trading. This latest news comes after Godwin Emefiele, a CBN Governor, described digital currency and bitcoin as a gamble, and said that investors and traders needed to be very careful.

However, for people who would like bitcoin usage to be further controlled, the Nigerian market is already more decentralised than other places and therefore more durable against exterior influence and opinion. Experts believe this is as a result of the Nigerian market experiencing huge amounts of private trade.

Despite exchanges in Nigeria recently experiencing huge growth, persistent scammers and hackers have caused numerous traders to resort to platforms where only trusted members can trade. Such platforms supposedly examine the identification and financial documentation of anybody wishing to join. Transfers are also completed face-to-face, and in private locations including homes.