Busha
Busha
Busha is among the first SEC-licensed exchanges in Nigeria, offering savings accounts with up to 18% APY and the option to borrow without selling your crypto. Its reach is limited to Nigeria and Kenya, emerging markets with a higher risk profile.
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | condiviso |
| Multi-currency | Yes · 4 currencies |
| Outbound transfers to third-party IBANs | No |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | Yes |
| Interest on balance | 10% |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | AFRICA, UK · 3+ countries |
| Regulator | SEC Nigeria |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | SEC Nigeria ARIP (giugno 2024) SEC Nigeria (provisional) |
Plans & pricing
Strengths
- Before SEC-licensed exchange Nigeria; up to 18% APY savings; borrow without sell.
- No notable sovereignty advantage documented.
Weaknesses
- Only Nigeria/Kenya; markets emerging.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (SEC Nigeria (provisional)): reporting to authorities and freezes on order.
Verdict
Being among the first exchanges with a provisional Nigerian SEC licence gives a regulatory foothold that justifies a fair rating, but oversight is still young and operations are confined to Nigeria and Kenya. Savings accounts up to 18% APY and borrowing without selling crypto are tempting, but must be read against the high risk profile of emerging markets and third-party custody.
Through this lens the model shows its limits: full KYC, centralized custody and yields that imply giving up control of your keys. Savings and lending are custodial-finance tools, far from the self-custody, censorship-resistant logic this perspective rewards.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Busha a real bank?
Busha operates under a SEC Nigeria ARIP (giugno 2024) licence. The deposit-protection scheme is not documented for this service; check the official terms.
Can I send transfers to third-party IBANs with Busha?
The ability to send transfers to third-party IBANs is not documented; check the official website.
Does Busha support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Busha support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not documented.
Can I withdraw crypto on-chain from Busha?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework Data verified on Jun 13, 2026
- africa-newsroom.com Savings interest Data verified on Jun 15, 2026
- busha.io Plans & pricing · Company profile · Issuer · Deposit guarantee · +1 Data verified on Jun 15, 2026
- disruptafrica.com Investors Data verified on Jun 15, 2026
Show 5 more sources
- docs.busha.co On-chain crypto withdrawals Data verified on Jun 15, 2026
- docs.busha.io Multi-currency Data verified on Jun 15, 2026
- pitchbook.com Issuer · Stock ticker · Stock listing · IPO date Data verified on Jun 15, 2026
- techcabal.com Issuer Data verified on Jun 14, 2026
- trustpilot.com Trust & safety Data verified on Jun 14, 2026