In 2025, Nigeria's financial institutions submitted 42,082 suspicious transaction reports to the country's financial intelligence unit, offering a window into a system caught between old habits and new demands. Traditional banks carried nearly the entire compliance burden, while cryptocurrency providers remained almost invisible in the data — a disparity that speaks less to the absence of risk than to the uneven maturation of oversight across sectors. The deeper story is one of transformation: suspicious filings fell sharply even as threshold-based reporting surged, suggesting that regulatory