Two sources familiar with the matter said that the central bank is willing to develop its own software for the CBDC in order to keep full control of the effort. It’s been nearly eighteen months since...
Tag: Nigerias
Nigeria’s CBDC program called ‘a very dark experiment’
Ad Referencing the e-Naira, Journalist Nick Corbishley said, “A very dark experiment is underway in Nigeria.” In a tweet posted on Feb. 16, as riots broke out across several Nigerian cities, Corbishle...
Nigeria’s cashless bid pushes Bitcoin premium to 63%
The Bitcoin premium has reached 63% in Nigeria. Restrictions on cash withdrawals paired with a push towards a cashless economy led to an increase in demand for BTC. The recent effort of the Central B...
LBank welcomes Nigeria’s push to recognize crypto as investment capital
Nigeria has put forward a significant legislation design that will further facilitate cryptocurrency adoption in the country with over 200 million inhabitants. Why does this matter? If the Investments...
Inside Nigeria’s Ambitious Push of Cashless Society, eNaira CBDC
Nigeria’s push to adopt digital currency and move towards a cashless society shifted into high gear on December 6, when the country’s central bank announced a cap on cash withdrawals, either over the ...
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission – Economics Bitcoin News
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluat...
Nigeria’s Presidential Candidate Adebayo to Create 30 Million Jobs Using Crypto
Adewole Adebayo – one of the main contestants to become Nigeria’s next President – promised to use blockchain technology and cryptocurrencies to generate up to 30 million job positions for locals. The...
Nigeria’s CBDC deemed a failure; Korea gathers more proof on Do Kwon
The biggest news in the cryptoverse for Nov. 3 includes the private conversation Korea obtained that proves Kwon purposely manipulated the LUNA price, the reveal of China’s $6 billion worth of crypto ...
Nigeria’s Central Bank Doubles Down on Plans to Introduce Naira Banknotes
CBN urges Nigerians to support the currency redesign project Nigerians are expected to return the old notes by the end of January 2023 Just a few days after being publicly questioned by Nigerian Fina...
Nigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes – Economics Bitcoin News
The Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab Ahmad. Th...
Nigeria’s eNaira has very few takers a year after its launch
A Bloomberg report shows that eNaira is not as popular as it was touted to be. Cryptocurrency adoption is not the problem. CBN is struggling to drive adoption. According to a Bloomberg report, less th...
Nigeria’s CBDC project fails to pick up as only 0.5% of residents use eNaira
Almost one year after Nigeria became the first country to roll out a central bank digital currency (CBDC), new data shows the adoption rate among residents is dismally low. Although the government ha...
Nigeria’s Central Bank Targets 8 Million Users in CBDC Drive – crypto.news
Nigeria is seeking to double the number of users of its digital currency before the end of the year by wooing more unbanked people. The Central Bank of Nigeria (CBN) launched the e-Naira in October 20...
Nigeria’s eNaira Records 200,000 Transactions Worth Over $10 Million Since October
Godwin Emefiele, the Governor of the Nigerian Central Bank, said on Thursday that the eNaira, Nigeria’s Central Bank Digital Currency (CBDC), is expected to enter the second phase of its expansion thr...
Nigeria’s CBDC eNaira records $10M in transaction since October
Nigeria’s digital currency eNaira has reportedly reached 270,000 users as recorded transactions hits N4 billion (approx. $10 million) since its launch in October 2021. The CBN Governor Godwin Emefiele...
Nigeria’s Largest Stock Exchange Plans to Adopt Blockchain for Settling Trades
The largest stock exchange in Nigeria – Nigerian Exchange Ltd. – will reportedly roll out a blockchain-enabled trading platform next year to facilitate the capital market and attract young investors. ...
Nigeria’s Indicina raises $3M to help businesses offer credit to their customers at scale
For years, Africa’s credit infrastructure has lagged behind the rest of the world due to low credit coverage from its bureaus. Per a World Bank report, only 11% of Africa’s population have their credi...
Critical Review of Nigeria’s Digital Economic Regulations – Coinpedia – Fintech & Cryptocurreny News Media
The Experts and entrepreneurs of the digital space have called for a meet-up to review Nigeria’s digital economic regulations to meet up with the economics of other countries’ economies. At the busin...
Reprieve As Nigeria’s Regulator Issues Progressive Cryptocurrency Rules ⋆ ZyCrypto
Advertisement     The Securities Exchange Commission (SEC) of Nigeria has put out new rules that seek to regulate digital assets in the country, signaling the full acc...
Nigeria’s markets regulator publishes set of rules for digital assets
Nigeria’s markets regulator has published 54 pages of regulations for digital assets, as the country may be stepping back from an earlier ban on cryptocurrencies. Last February, the Central Bank...
Nigeria’s SEC Affirms All Digital Assets Are Securities in New Rulebook
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the futur...
Nigeria’s SEC Issues New Guidance for Crypto, Classifies Them as Securities
Nigeria’s Securities and Exchange Commission has released new rules to guide the issuance, custody, and exchange of digital assets, while also classifying them as securities. According to the rules, e...
Nigeria’s Central Bank says eNaira can be used to make bill payments
The Central Bank of Nigeria (CBN) is advancing its plans for its central bank digital currency. The institution has now said that it will be possible for locals to make bill payments using the eNaira....
Nigeria’s Central Bank to Allow Bill Payments in eNaira (Report)
The Central Bank of Nigeria (CBN) will reportedly enable locals to pay their bills, TV subscriptions, and flight tickets using the eNaira. The move is part of a campaign that aims to popularize the fi...
Nigeria’s Xend finance celebrates one-year mainnet launch
TL;DR Breakdown Xend Finance celebrates one year anniversary. Adds several innovative, unique features to its platform. Xend Finance, a Nigerian crypto bank for those in underserved regions, announced...
Nigeria’s Central Bank punishes 3 banks with a $1.9M Penalty for Crypto Transactions
Nigeria’s central bank punished three homebuyers for allowing cryptocurrency transactions. The action is in accordance with the Zenith Financial Institution’s 2021 round, in which the Central Bank of ...
Nigeria’s CBN Slams $2m Fines on Four Banks for Crypto Transactions
The Central Bank of Nigeria (CBN) has imposed monetary sanctions of N814.3 million (nearly $2 million) on four commercial banks in the country for permitting cryptocurrency transactions, Bloomberg rep...
Nigeria’s Central Bank Imposes $1.9M Penalty on 3 Domestic Banks for Crypto Transactions
Nigeria’s central bank has reportedly fined three domestic lenders for allowing transacting in cryptocurrencies. The action is in line with the apex bank’s 2021 circular, where the Central Bank of Nig...
Nigeria’s eNaira CBDC may pose money laundering risks, IMF warns
advertisement The International Monetary Fund (IMF) warned that Nigeria’s eNaira could pose money laundering risks, despite previously stating that the central bank digital currency (CBDC) was safer t...
Nigeria’s Fintech Firm Tingo Seeks to Raise $500 Million to Serve More African Farmers
Tingo, a fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin o...
Despite CBN ban, Nigeria’s Bitcoin P2P trades rose by 16%
Last year, the Nigerian Central bank prohibited banks from facilitating crypto transactions citing the need to protect the economy and investors. While many would believe that the ban would hamper the...