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Report: Zimbabwe Proceeding With Digital Currency Plans, Central Bank Undeterred By Slow Adoption of Nigerian CBDC
3.11.2022
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 with plans to launch its own digital currency. In addition to sending a team to learn from...
Organizer of Binance-Sponsored Crypto Tour Says Campaign Was Successful, Denies Reports of Arrest
17.6.2022
A crypto enthusiast and organizer of the Binance-sponsored Blockchain and Cryptocurrency Awareness Tour (BCAT) recently held in Nigeria, has rejected reports he was arrested by security agents reportedly spooked by large crowds that were following the campaign. The enthusiast said the high number...
Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market Exchanges
1.8.2021
It has been more than six months since the Central Bank of Nigeria (CBN) directed banks to stop serving customers from the cryptocurrency industry. While the measure appears to have succeeded in removing crypto entities from the banking ecosystem, the policy has however led to the growth...
Forex Strapped Nigeria Designates Crypto Assets as Securities
15.9.2020
The Securities and Exchange Commission (SEC) of Nigeria has designated crypto assets as securities as the authorities step up efforts to regulate Africa’s largest cryptocurrency market. The SEC says the classification of crypto assets for regulation is consistent with the country’s...
Nigeria Foreign Exchange Crisis: Worsening US Dollar Shortages Point to Further Devaluation
2.9.2020
Pressure on Nigeria’s current exchange rate is likely to get worse in 2021, when the expected recovery of imports is set to force another devaluation of the local currency to N430/$ next year, according to two Bank of America analysts. Earlier rate adjustments, one in March and another...