Not all that glitters is gold. The current CBDC situation in Nigeria foreshadows what is to come. Citizens in Nigeria have taken to the streets to protest the country’s cash shortage, as well as their...
Tag: Nigeria
Nigeria Fintech Flutterwave Denies Client Account Hacking Reports – Fintech Bitcoin News
The Nigerian fintech Flutterwave has rejected reports suggesting that hackers have stolen as much as $6.3 million from user accounts. The fintech firm said a routine check of its transaction monitorin...
Will Bola Tinubu Uplift Nigeria from Crippling Cash Shortages?
Bola Tinubu has been elected as the President of Nigeria. He takes up the position after Muhammadu Buhari under whose administration the country witnessed riots and inflation. The new President is exp...
Kwame Onwuachi’s Afro-Caribbean Journey To Lincoln Center
Portrait Chef Kwame in Lady and Butler Designed Uniforms at the Lincoln Center for Performing Arts. Kwame Onwuachi Curries and peppers, garlic and ginger, mangos and carrots, and Egusi seeds and pimen...
Nigeria seeks partners for a technological upgrade of its digital currency, the eNaira
Join Our Telegram channel to stay up to date on breaking news coverage Nigeria is in discussions with potential technology partners to create a brand-new system to control and manage the digital curre...
Nigeria tries to enforce cashless society with CBDC eNaira amidst financial disaster
Nigeria, Africa’s most populous nation and largest economy, is currently facing a financial crisis that has underscored the importance of cryptocurrencies for its population of over 219 million. Despi...
Embattled Nigeria naira faces a moment of reckoning
The Nigerian naira has been in the spotlight in the past few weeks amid challenges in Africa’s biggest economy. The official USD/NGN exchange rate was trading at 460 on Thursday, significantly higher ...
Nigeria in talks with NY-based company for revamp
The Central Bank of Nigeria (CBN) continues to develop its central bank digital currency (CBDC), the eNaira, but this time it’s calling for backup. According to a Feb. 21 Bloomberg report, the CBN is ...
CBDCs Are Gaining Steam, Though Results May Vary
Countries are looking to build their own central bank digital currency — though results may vary. Roberto Campos Neto, president of Brazil’s central bank, said at BTG Pactual’s CEO Conference on...
Nigeria naira (USD/NGN) collapses amid multiple headwinds
The Nigerian naira collapse is still underway amid an ongoing scarcity, fuel shortage, and worries of next week’s general election. The USD/NGN exchange rate was trading at a record high of 460 on Fri...
Why Bitcoin? Nigeria Faces Violent Protests Amid Cash Scarcity
The cash withdrawal restrictions imposed by the Central Bank of Nigeria (CBN) have made a strong case for Bitcoin as a solid store of value and a censorship-resistant currency. Nigeria is currently fa...
As Monetary Policies Grow Complex, Nigeria Turns to Bitcoin ⋆ ZyCrypto
Advertisement     More Nigerians than ever are picking up interest in Bitcoin, according to trend results on Google. The most populous black nation set the record for ...
Only Nigeria in Africa Ranks Among the Top 15 World Crypto Hubs
Recap ranked London with the greatest crypto-readiness to attract firms and startups. The indicators include crypto-related jobs, BTC ATM count, and crypto ownership. Only one African city, Lagos, app...
Three Youth-Led African Agritech Businesses Receive Investment To Help Scale Up African Agriculture
Three African youth-led Agritech businesses— Kenya’s DigiCow, Botswana’s Brastorne Enterprises and Nigeria’s ThriveAgric— will receive mentorship and $1.5 million in grants to help them to aggressivel...
Nigeria Extends Deadline for Returning Soon-to-Be Demonetized Naira Banknotes – Africa Bitcoin News
After initially ignoring pleas to extend the period for returning old naira banknotes, the Nigerian central bank recently said it has shifted the deadline for returning old banknotes to Feb. 10. The b...
Bitcoin Soars to $37K in Nigeria as Apex Bank Enforces Digital Cash
BTC costs 17.2 million NGN, equivalent to $37,450 by the official exchange rate. Ethereum costs 1.1 million NGN, equivalent to $2,575, instead of the global $1,569. Nigerian government recently banned...
Bitcoin Soars in Nigeria as Government Promotes Digital Cash
Bitcoin (BTC) has seen an exponential increase in demand in Nigeria as the country’s central bank encourages the population to switch to digital cash. As a result, the price of Bitcoin has escalated t...
Bitcoin Premium Tops 60% in Nigeria Amid Growing Demand
The price of bitcoin (BTC) in Nigeria has significantly increased beyond the global market valuation amid growing demand for the asset among citizens in the West African country. At the time of writin...
Bitcoin price rises to $38k in Nigeria as adoption push heightens
Nigeria’s bitcoin (BTC) premium has reportedly risen by 60%. The surge comes as the state’s central bank limits ATM cash withdrawals to a maximum of $44 daily. Nigerian Central Bank limits cash withdr...
Bitcoin sells at a 60% premium in Nigeria as the government shifts to a cashless policy – Cryptopolitan
Bitcoin’s price in Nigeria has exponentially risen beyond its global market levels as the Central Bank of Nigeria(CBN) promotes digitalized cash. At the time of writing, the cost for one Bitcoin is 17...
Bitcoin premium hits 60% in Nigeria as country limits ATM cash withdrawals
The price of Bitcoin (BTC) in Nigeria has skyrocketed to well above global market levels amid continued efforts by the central bank to push its citizens into digitalized cash. At the time of writing, ...
Bitcoin Selling at 60% Premium in Nigeria Amid Cash Withdrawal Cap
2 hours ago | 2 mins read Editors News The current price of bitcoin on the Nigerian crypto market NairaEX is $38,792. The demand has resulted in a premium being added to the price of Bitcoin. As the c...
Bitcoin premium in Nigeria tops 164% amid demonetization
The demand for Bitcoin (BTC) in Nigeria has soared as the fiat notes are set to be invalidated. This rise in demand is causing BTC to be traded at a premium of up to 163.77% in Nigeria. At the time of...
Nigeria to introduce ICOs and stablecoins to widen payment outlook
Nigeria is all set to accept the presence of private stablecoins. The requirement to make a legal structure for stablecoins is written in the recent central bank strategy paper. The Centra...
Two Men in Nigeria Arrested for Crypto Fraud
Two men in Nigeria have been arrested for allegedly taking part in crypto fraud. The pair obtained quite a bit of money by cheating investors and lying to them about their potential returns. Two Arres...
Report: Nigeria Debt Management Office’s $48.8 Billion Debt Contravenes the Law Says Expert
– Advertisement – The Nigerian Debt Management Office (DMO) contravened the law when its borrowings exceeded the set limit which is equivalent to $2.2 billion, Adetilewa Adebajo, an intern...
Nigeria Debt Management Office’s $48.8 Billion Debt Contravenes the Law Says Expert – Economics Bitcoin News
The Nigerian Debt Management Office (DMO) contravened the law when its borrowings exceeded the set limit which is equivalent to $2.2 billion, Adetilewa Adebajo, an international financial markets expe...
Nigeria revisits its payments landscape amid sluggish eNaira adoption
Nigeria’s central bank will explore the potential of stablecoins, the adoption of blockchain technology to power a central bank digital currency (CBDC) and regulatory considerations related to initial...
The Central Bank of Nigeria Published “Payments System Vision 2025”
Nigeria Payments System Vision 2025, the latest report from the Central Bank of Nigeria marked the necessity to create a legal framework for stablecoins. The report states that, Digital currencies bui...
Nigeria to create legal framework for stablecoins and ICOs
As one of the world’s pioneers in adopting its own central bank digital currency (CBDC), Nigeria also declares its readiness to accept the existence of private stablecoins. The necessity to create a l...
With the ban on cash withdrawals in Nigeria, Bitcoin and Cardano may finally shine
Join Our Telegram channel to stay up to date on breaking news coverage The Nigerian government is eager to steer its economy toward cryptographic payments in light of the successful rollout of the dig...