Despite the Central Bank of Nigeria (CBN)’s Feb. 5, 2021 directive that instructed banks to block crypto entities from the financial system, the demand and use of cryptocurrencies have continued to gr...
Tag: Nigerian
Nigerian Web3 Startup Says Funds Are Stuck With FTX, Lays Off Employees – Bitcoin News
Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to ...
Nigerian crypto startup Nestcoin says funds stuck in FTX
Nestcoin CEO Yele Bademosi has revealed that the company has been impacted by the FTX collapse as its operational funds are currently stuck in the bankrupt crypto exchange. Nestcoin kept some of...
Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low – Africa Bitcoin News
Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An econom...
Nigerian Naira Fiat Gateway joins Binance
Binance, a worldwide recognised cryptocurrency exchange, has announced the addition of a fiat gateway for the Nigerian Naira, often known as NGN. As part of Binance’s purpose, the addition seeks to in...
Binance Added Nigerian Naira (NGN) In Its Trading Gateway
45 mins ago | 2 mins read Exchange News Nigerian users can now able to deposit and withdraw NGN in Binance. Nigeria and Binance are seeking to create a blockchain-based digital economic zone. Binance ...
eNaira Nigerian CBDC Rejected by its Countrymen
Why analysts termed the eNaira a massive failure? The discussion on CBDCs has been in the limelight for the last few months, and around 18-19 countries have launched their CBDCs, and 100-plus nations...
eNaira CBDC ‘a massive failure’ despite Nigerian central bank’s claims to the contrary
Geopolitical Analyst Nick Giambruno called Nigeria’s eNaira project a “massive failure” while saying the outcome has not been “what the elites hoped for.” The eNaira launched on Oct. 25, 2021, with Pr...
Zimbabwe Proceeding With Digital Currency Plans, Central Bank Undeterred By Slow Adoption of Nigerian CBDC – Africa Bitcoin News
Undeterred by the reported slow adoption of the Nigerian central bank digital currency, the deputy governor of the Reserve Bank of Zimbabwe, Innocent Matshe recently said his institution will proceed ...
Nigerian Central Bank Says It Will Release New Banknotes in December — Naira Falls to New Low – Featured Bitcoin News
Starting December 15, Nigerians will be using newly-designed 100, 200, 500 and 1,000-naira banknotes, the governor of the Central Bank of Nigeria (CBN) has said. The announcement has since resulted in...
Nigerian central bank struggles to push the adoption of its CBDC
Join Our Telegram channel to stay up to date on breaking news coverage Only a few years ago, China came out with the announcement that it is working on creating its own CBDC, a central bank digital cu...
Nigerian CBDC Still Not Widely Used a Year After Launch – Emerging Markets Bitcoin News
On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency. In a move aimed at boosting the use of...
Nigerian Presidential Hopeful’s Party Says It Will Review Country’s Blockchain and Crypto Policy if Elected – Africa Bitcoin News
The party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has promised to set up an advisory committee to review regulations that govern blockchain and virtual asset services if it wins in th...
Bank of America Economist Predicts 20% Devaluation of the Nigerian Currency in 2023 – Economics Bitcoin News
A Bank of America economist, Tatonga Rusike, has said the Nigerian currency is overvalued by as much as 20% and will likely be devalued in 2030. The remarks by the economist came just days after the c...
BaaS Startup Domineum to Train 100k Nigerian Students in Blockchain Solutions
Domineum, a London-based Blockchain-as-a-Service (BaaS) startup, is set to train as many as 100,000 students under the umbrella of the Nigeria Association of Computing Students (NACOS) in blockchain a...
Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar – Coinotizia
A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a re...
Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar – Economics Bitcoin News
A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a re...
Nigerian Central Bank Hikes Key Interest Rate Just Days After Naira Plunges to New Low – Africa Bitcoin News
Following the latest meeting of the monetary policy committee, the Central Bank of Nigeria says it has hiked the monetary policy rate to 15.5%. By increasing the key interest rate by 150 basis points,...
Nigerian Entrepreneurs and Developers to Gain Exposure to Cardano (ADA)
– Advertisement – Cardano enthusiasts are preparing to foster widespread adoption of the network among Nigerian entrepreneurs. Following its successful launch this year in Lagos, Nigeria,...
Nigerian Crypto Exchange Yellow Card Raises $40M in Series B Funding Round
Nigerian cryptocurrency exchange Yellow Card Financial announced today that it has raised $40 million in a Series B funding round led by Polychain Capital. The investment round also saw participation...
Nigerian Inflation Rate Rises to 20.52% in August — Month-on-Month Rate Drops – Africa Bitcoin News
While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate dec...
French and Nigerian Central banks to join Hyperledger Foundation
The Banque de France and the Central Bank of Nigeria were among eight new members announced by the Hyperledger Foundation on 12 September. Other names include CasperLabs and DSR Corp. The Banque de Fr...
Nigerian Blockchain Firm Bitmama Closes $2 Million Pre-Seed Funding Round
Bitmama, a blockchain startup based in Nigeria, announced that it has closed its pre-seed funding round at $2 million after it recently added $1.65 million to the $350,000 that it raised in October la...
Nigerian Blockchain Startup Bitmama Closes $2 Million Pre-Seed Round – Africa Bitcoin News
After raising $1.65 million via a pre-seed extension, Bitmama, a Nigeria-based blockchain startup, has now closed its pre-seed funding round at $2 million, a report has said. Leading the funding round...
Nigerian Presidential Candidate Says Fixed Exchange Rate Regime ‘Has to End’ — Touts Success of Fintech Unicorn Flutterwave – Featured Bitcoin News
A Nigerian presidential election candidate, Peter Obi, has said the local currency’s exchange rate against the dollar must not be fixed but must be determined “by the forces of demand and supply.” Poi...
Fintech Unicorn Flutterwave Granted ‘Game Changing’ License by Nigerian Central Bank – Fintech Bitcoin News
The Nigerian fintech Flutterwave has said the switching and processing license it recently received from the Central Bank of Nigeria allows it to “deliver an improved experience to our customers.” The...
Nigerian Central Bank Slashes CBDC Transaction Fees by 50% – Africa Bitcoin News
The Central Bank of Nigeria has said it is slashing transaction fees for the e-naira platform by 50% — a move which the bank claims will increase the volume of transactions on the central bank digital...
Supposed Poverty Eradicating Cryptocurrency Criticized as Just Another Complex Nigerian Ponzi Scheme – Featured Bitcoin News
After reports that merchants and holders of “Zugacoin” cryptocurrency are unable to make withdrawals, the founder of the Nigerian crypto, Sam Zuga responded by accusing unnamed “ignorant people” of wo...
Nigerian BTC Peer-to-Peer Volumes Nearly $400M in H1 of 2022 — Significant Growth in Kenya and Ghana Volumes – Coinotizia
Nigeria’s peer-to-peer bitcoin traded volumes of over $1.1 billion between January 2021 and June 2022 mean the West African nation is now Paxful’s largest market. Kenya, which saw traded volumes of ov...
Nigerian BTC Peer-to-Peer Volumes Nearly $400M in H1 of 2022 — Significant Growth in Kenya and Ghana Volumes – Emerging Markets Bitcoin News
Nigeria’s peer-to-peer bitcoin traded volumes of over $1.1 billion between January 2021 and June 2022 mean the West African nation is now Paxful’s largest market. Kenya, which saw traded volumes of ov...
Nigerian Central Bank Targets Tenfold Increase in Number of CBDC Users, Governor Says Use of Cash Will ‘Dissipate to Zero’ – Emerging Markets Bitcoin News
Despite the apparent slow embrace of the e-naira digital currency by Nigerians, the Central Bank of Nigeria governor has said his institution is targeting a tenfold increase in the number of users of ...
Bitcoin donors fund and construct clean water well for 1,000 Nigerian villagers
Various humanitarian organizations continue to leverage cryptocurrencies in a bid to offer equitable opportunities for communities by funding different projects. Notably, the use of crypto offers room...