Bybit NGN P2P: Eight Payment Rails Removed
Bybit NGN P2P users can no longer use eight selected Nigerian payment methods on the exchange’s peer-to-peer marketplace.
The change took effect on September 1, 2026, at 10:00 AM UTC. From that time, the affected payment methods stopped working for new NGN P2P ads and trades linked to those rails.
Bybit described the update as part of its effort to improve safety, reliability and the overall P2P experience. The exchange did not say it was shutting down naira trading.
Instead, this is a payment-method cleanup. Nigerian users can still buy and sell crypto with naira on Bybit, but they must use payment methods that remain available inside the app.
For broader context on African P2P markets, read Blockwisely’s coverage of how P2P platforms affect crypto traders across Africa.
Bybit NGN P2P Payment Methods Affected
The eight payment methods removed from the NGN market are:
- Paga
- Chipper Cash
- Carbon Microfinance
- Jaiz Bank
- Stanbic IBTC Bank
- Ecobank
- Polaris Bank
- Union Bank
Bybit’s official announcement lists Stanbic IBTC Bank, not “Stanbic BTC Bank.”
After the delisting, users can no longer create NGN ads with these methods. They also cannot trade against P2P ads that depend on them.
This matters for both casual users and active merchants. If a trader relied on any of the removed options, they now need to switch to another supported method before placing a trade.
What Changed for Bybit NGN P2P Traders
The first change affects saved payment settings.
Some users may still have Paga, Chipper Cash, Carbon Microfinance, Jaiz Bank, Stanbic IBTC, Ecobank, Polaris Bank or Union Bank saved in their P2P profile. Those methods will no longer work for new NGN trades.
Bybit advised affected users to add another supported payment method. The exchange says users can manage payment options through P2P User Center → Payment Method.
The second change affects live ads.
Any active NGN advertisement that used one of the removed methods may be delisted. Merchants should review their buy and sell ads. If an ad depends on a removed rail, they need to repost it with a supported payment method.
This is important for high-volume P2P sellers. Even a small payment-method change can affect order flow, settlement speed and buyer confidence.
NGN Trading Is Not Shutting Down
The Bybit NGN P2P market remains active.
The update only removes specific payment rails. It does not remove naira trading from the platform. Users can still access NGN P2P offers if they choose a supported payment method.
That distinction is important. A payment rail can disappear while the broader market remains open.
This type of update usually affects convenience before it affects market access. Traders may need to adjust habits, update profiles and check filters more carefully before taking orders.
Why This Matters for Nigerian Crypto Users
P2P trading remains one of the most important crypto access points in Nigeria.
Many users depend on P2P markets to move between naira and crypto. This is especially true when direct card payments, bank rails or fiat deposit channels become limited.
A payment-method removal can create short-term confusion. A buyer may see an old process and assume it still works. A seller may also forget to update an ad. That can delay trades and create avoidable disputes.
For more background on Nigeria’s changing crypto environment, see Blockwisely’s report on Nigeria’s proposed 80% cold-storage rule for crypto firms.
What Bybit Users Should Do Now
Bybit users in Nigeria should check their P2P settings before opening a new trade.
Go to P2P User Center → Payment Method and confirm that your saved option still appears in the NGN marketplace. If your preferred rail is missing, choose another supported method.
Merchants should also check every active NGN buy or sell ad. If an ad used one of the removed rails, edit or repost it before taking new orders.
Users should also filter the order book by payment method. Do not assume that “bank transfer” covers every bank or fintech wallet. On P2P platforms, individual banks and wallets may appear as separate options.
Bybit’s help center also says P2P payment accounts must match the user’s identity verification name. That means users should avoid third-party payment accounts.
You can also review Bybit’s guide to managing P2P payment methods for the official process.
Bottom Line
The Bybit NGN P2P update is not a naira-market shutdown. It is a payment-rail removal.
Eight options are now off the table: Paga, Chipper Cash, Carbon Microfinance, Jaiz Bank, Stanbic IBTC Bank, Ecobank, Polaris Bank and Union Bank.
Anyone who used those methods should add a replacement before trading. Merchants should also repost affected ads with supported payment options.
The safest approach is simple. Check the live NGN filter inside Bybit before starting any order. Supported payment methods can change, so the in-app list should be treated as the final source of truth.
For the official delisting details, see Bybit’s announcement on the NGN P2P payment-method removal.
