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Nigerian Banks Resume Dispensing Recently Demonetized Naira Banknotes
11.3.2023
According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetization of the 1,000, 500 and 100-naira banknotes. According to the court, Nigerian residents will continue to use...
Nigerian president-elect aims to use blockchain technology in the banking sector
10.3.2023
The Nigerian president-elect wants to review existing SEC digital asset regulations to stimulate economic growth
Nigerians’ Rejection of Their CBDC Is a Cautionary Tale for Other Countries
6.3.2023
Nigerians are protesting their country's CBDC and demanding renewed access to paper money, despite government incentives to use the digital currency
Naira redesign no more: President’s directive canned by Nigerian supreme court
6.3.2023
The supreme court of Nigeria says no to naira redesign, rules the old banknotes to remain in circulation
Nigeria Fintech Flutterwave Denies Client Account Hacking Reports
6.3.2023
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 monitoring system helped to uncover “an unusual trend of transactions on some users’ profiles.”...
Nigerian Crypto Leverage Searches Second-Highest Globally — Africa Dominates Searches for Leveraged Trading Products
5.3.2023
According to an analysis of Google searches by Leverage Trading, Nigeria is the “second-highest country in the world for searches related to crypto leverage.” Along with South Africa and Ghana, the West African nation also dominates searches for the term “trade crypto.”...
Nigeria Picks Bola Tinubu as President Amid Cash Shortages
1.3.2023
Tinubu will replace outgoing President Muhammadu Buhari, under whose government the country issued the eNaira and banned banks from interacting with crypto firms
Nigerian Cash Crisis: Benue State Residents Resort to Barter Trade
1.3.2023
Faced with cash shortages caused by the central bank’s currency policies, traders in the Nigerian state of Benue have reportedly resorted to barter trading. Traders from the state have implored the Nigerian government to consider rescinding the Central Bank of Nigeria’s naira redesign...
Anti-CBDC bill in the US, no algo stablecoins for Canada: Law Decoded, Feb. 20–27
27.2.2023
United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency
Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience
24.2.2023
More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which gives it greater control of the digital currency....
Why Nigerians Aren't Turning to the eNaira Despite Crippling Cash Shortages
24.2.2023
A lack of infrastructure, merchants and interest may all be contributing factors to Nigeria’s low eNaira pickup – despite its recent cash issues
Report: Chipper Cash Lays Off More Workers — Crypto Department Still Operational, Says CEO
23.2.2023
The Nigerian fintech, Chipper Cash, recently said it has let go of more employees and that this step has been taken to help the firm contain its operating costs. Although no figure of the number of axed workers was given, one report estimated this to be around 100, or 12.5% of Chipper Cash’s entire...
Bitcoin Lightning Network growth is organic, coming from real-world adoption
22.2.2023
Bitcoin Lightning Network adoption receives a boost with the launch of USD payments and decentralized social media platform, Nostr
eNaira is 'crippled': Nigeria in talks with NY-based company for revamp
21.2.2023
After multiple attempts to create an efficient digital currency, the Central Bank of Nigeria is turning to a New York tech firm to revamp the underlying technology
Nigeria's Central Bank in Talks With Blockchain Platform R3 for CBDC Revamp: Bloomberg
21.2.2023
The central bank wants full control of eNaira, and is in early talks with blockchain platform R3 to develop the technology, according to the report
African Fintech Startups Raised $1.45 Billion in 2022 — Sector’s Share of the Continent’s Total Funding Drops
19.2.2023
Despite seeing their share of Africa’s startup funding drop from 48.3% seen in 2021 to 43.4% in 2022, fintech still managed to raise 39.3% more capital in 2022 ($1.45 billion) than they did in 2021 ($1.04 billion). Nigeria was again the best-funded country after 180 of its startups raised...
Moody’s Says Forex Shortages May Force Nigerian Central Bank to Delay Repaying Local Banks
17.2.2023
The persistent scarcity of foreign exchange may force the Nigerian central bank to delay repaying the $10.4 billion owed to local banks, analysts at Moody’s Investors Service have concluded. The central bank’s failure to pay its debts on time will likely force the affected financial...
Nigerian President Barred From Extending Old Naira Banknote Demonetization Deadline
9.2.2023
With just a few days left before the old naira banknotes are demonetized on Feb. 10 as scheduled, a court in Nigeria has blocked the country’s president, Muhammadu Buhari, and the central bank governor, Godwin Emefiele, from further extending the deadline. Opponents of the central...
Nigerian City of Lagos Among the World’s Top 20 Crypto Hub Cities — Study
8.2.2023
According to the findings of a study by Recap, the crypto asset management firm, the Nigerian city of Lagos is ranked among the world’s top 20 crypto hub cities. Besides Lagos, five more African cities, namely the Angolan city of Luanda, Nigeria’s Ibadan, and three South African cities...
Nigeria’s Bitcoin Premiums May Better Reflect Country’s Demand for the Dollar, Not Crypto
3.2.2023
Nigerians are paying a premium, but probably more for the U.S. dollar than for bitcoin, an analyst told CoinDesk