Another week has passed and developments in the Binance-Wazirx controversy continue, Nigeria’s Economic and Financial Crimes Commission (EFCC) claims it has identified individuals fueling the naira’s ...
Tag: Nigerian
US Venture Capital Firm Leads New Investment in Nigerian Startup Teamapt – Fintech Bitcoin News
The United States-based venture capital (VC) firm, QED Investors, recently led an investment round that raised more than $50 million for the Nigerian fintech Teamapt. The investment, as well as the VC...
Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira’s Rapid Depreciation – Emerging Markets Bitcoin News
Nigeria’s Economic and Financial Crimes Commission (EFCC) recently claimed it had identified individuals and organizations whose rapid accumulation of U.S. dollars recently accelerated the depreciatio...
Nigerian Currency Recovers Versus US Dollar — Central Bank Says Importers Must Repatriate Forex Earnings – Economics Bitcoin News
After touching a new all-time low of N710 per dollar in late July, a new report says the Nigerian currency has rebounded by as much as 10%. After initially blaming speculators, the Central Bank of Nig...
Speculators and Crypto Traders Blamed for Naira’s Plunge, Kenyan Institutions Told to End Dealings With Nigerian Fintechs, CAR Token Sale off to Slow Start – Africa Bitcoin News
In this week’s Africa news highlights, the Nigerian central bank blames speculators for causing the local currency’s plunge to a new all-time low on the parallel market. In Kenya, the central bank has...
Nigerian Central Bank Told to Consider Floating the Naira, Recent Interest Rate Hike Slammed – Bitcoin News
The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian associati...
Kenya Central Bank Orders Financial Institutions to Stop Dealing With Two Nigerian Fintechs – Regulation Bitcoin News
In a letter addressed to the CEOs of financial institutions, the Central Bank of Kenya (CBK) has said financial institutions operating in the country must cease and desist from dealing with two Nigeri...
Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators – Economics Bitcoin News
The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association ...
Nigerian Commercial Banks ‘Apathetic’ Over CBDCs, says Governo
Nine months after launching the eNaira digital currency, the head of Nigeria’s central bank has criticized commercial banks over its lack of adoption. Godwin Emefiele, Governor of the Central Bank of ...
Nigerian banks impede e-Naira adoption over concerns it will impact banking revenue
Nigerian banks are reluctant to promote Nigeria’s low-cost central bank digital currency, e-Naira, due to concerns of losing revenue. E-Naira offers a commission-free alternative to traditional money ...
Nigerian Central Bank Governor Says Fintechs and Cryptos Change the Way Financial Systems Function – Emerging Markets Bitcoin News
The Nigerian central bank governor and bitcoin critic, Godwin Emefiele, recently remarked that the rise of fintechs and cryptocurrencies among other technologies have forced banks and financial instit...
Nigerian Mobility Fintech Secures $20 Million From British Development Finance Institution – Fintech Bitcoin News
A Nigerian fintech, Moove, recently secured a $20 million investment from British International Investment (BII). Moove said the funds will be used to democratize access to vehicle ownership in Africa...
Nigerian Fintech Giant Flutterwave Accused of Laundering Money, More Than 50 Bank Accounts Frozen – Bitcoin News
A Kenyan agency charged with tracing and freezing proceeds of crime said it recently obtained an order giving it the authority to freeze bank accounts belonging to Nigerian fintech Flutterwave. The ag...
Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation – Bitcoin News
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of mo...
Nigerian Bourse to Adopt Blockchain for Settling Trades
Trade desires to draw in crypto-adoring Nigerians to stocks Blockchain is the kind of tech a lot of young Nigerians want to adopt South Africa, Kenya trust that guideline will take on innovation Niger...
Kenyan and Nigerian Central Bankers Attack Cryptocurrencies but Endorse CBDCs – Emerging Markets Bitcoin News
Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencie...
Nigerian Court Sentences Crypto Fraudster to One Year in Jail, Accused Given Option to Pay Fine – Bitcoin News
A Nigerian court has convicted and sentenced a man to one year in prison who is accused of duping an unsuspecting cryptocurrency investor. On its charge sheet, the prosecution said that the man had co...
Nigerian Stock Exchange Plans Blockchain-based Settlement by 2023
The Nigerian Exchange (NGX) Ltd. is planning to launch a blockchain-enabled exchange platform in 2023. Per a report by Bloomberg on Friday, NGX said it aims to use the platform in settling capital mar...
Nigerian Blockchain and Crypto Association Introduces a Code of Conduct for VASPs – Regulation Bitcoin News
The Nigerian blockchain and crypto advocacy group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) recently announced the introduction of a code of conduct for Nigerian virtua...
Digital Currencies Get Support From Nigerian Presidential Hopeful
Digital currencies have found a major backer in a Nigerian presidential candidate, who expresses confidence in their potential and rejects the concept that they might destabilize an economy. Bukola Sa...
Nigerian Presidential Aspirant supports crypto but calls for regulations
Bukola Saraki, a presidential aspirant for Nigeria, recently said he supports digital currency. Mr. Saraki claimed that digital currency creates chances for the country’s youth. But, he stressed the n...
Nigerian Presidential Hopeful Says He Supports Digital Currencies but Wants the Industry Regulated – News Bitcoin News
Nigerian presidential hopeful, Bukola Saraki, recently said he supports the digital currency industry which he claimed has created opportunities for the country’s youth. However, he insisted that ther...
Nigerian Government Partners With Algorand to Launch Major Crypto Initiative
3 hours ago | 2 mins read Blockchain News Developing Africa Group has been granted exclusive rights under the agreement. The project is a significant step forward in the worldwide use of cryptocurrenc...
Nigerian Government Taps Algorand Blockchain to Commercialize Intellectual Property Rights Globally
– Advertisement – The country is determined to help content creators monetize their arts through the Algorand network. Nigeria has partnered with Developing African Group on a three-year I...
Nigerian regulators states new rules to regulate crypto
The Nigerian securities regulator has declared new rules that govern the provision of digital qualities. The new rules additionally embrace registration necessities for platforms that provide digital ...
Nigerian SEC Announces New Rules Governing Issuance of Digital Assets – Regulation Bitcoin News
The Nigerian securities regulator has announced new rules that govern the issuing of digital assets. The new rules also include registration requirements for platforms that offer digital assets. Initi...
Nigerian Government Enhances eNAIRA to Draw Financial Inclusion
The Central Bank of Nigeria (CBN) has announced the upgrade to its Central Bank Digital Currency (CBDC) dubbed the eNAIRA. Bariboloka Koyor, a Branch Controller of the apex bank confirmed the new move...
Nigerian CBDC Wallet Update to Enable Utility Payments, USSD Functionality to Be Added – Featured Bitcoin News
The Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The additio...
Nigerian Crypto Restrictions and Twitter Ban Have ‘Crippled Foreign Direct Investment in the Fintech Industry’ – Emerging Markets Bitcoin News
A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct investment in the fintech industry....