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Nigerian hotel becomes country’s first to accept Bitcoin payments
26.4.2021
George Residence in Lagos has announced plans to start accepting BTC payments. The company has already converted 50% of its balance sheet to Bitcoin
Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency
23.4.2021
Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use...
Nigeria Money Printing Controvesy: CBN Governor’s Remarks Attacked, Government Denies It Financed Deficit via Money Printing
21.4.2021
The fallout sparked by reports that the Central Bank of Nigeria (CBN) printed over $150 million for states’ funding continued a few days after the allegations were initially made. In the latest twist, the opposition People’s Democratic Party (PDP) vice-chairman Dan Orbih said the...
P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions
18.4.2021
After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets...
Nigeria’s SEC in Talks With Central Bank of Nigeria Over Crypto Regulation— 2020 Crypto Guidelines Still Suspended
17.4.2021
Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto...
Nigeria's SEC says central bank's crypto ban disrupted the market
16.4.2021
The Securities and Exchange Commission of Nigeria says it is working with the central bank to create a legal framework for cryptos and digital assets
Nigerian Blockchain Educator Says Uncertain Regulations and Scams Slow Adoption of Cryptocurrencies
15.4.2021
With a population of over 200 million, Nigeria is widely regarded as one the biggest crypto markets in the world. Some in the crypto world believe Nigeria is one of the few countries better placed to see a greater acceptance of digital currencies. However, despite this optimism, the Nigerian crypto...
How African Users Can Buy and Trade Bitcoin Cash Without Facing KYC or Geoblocking Hurdles
13.4.2021
Africa remains the home to a large proportion of the world’s population that is unbanked according to a 2017 World Bank Global Index survey. Many of those who are unbanked cite their lack of official identification particulars as one of the main reasons for their predicament. Cryptos...
Central Bank of Nigeria Blocks Fintech Startups From Accessing KYC Service— Decision Described as an ‘Attack on All Fintechs’
12.4.2021
The Central Bank of Nigeria (CBN) has recently suspended the provision of the bank validation number (BVN) service to all fintech and third-party partners. The decision means non-banks entities include crypto startups “have lost one of the most comprehensive means of identity verification...
P2P Bitcoin Trade Volumes Surge in Kenya and Ghana but Nigeria Still Dominates
11.4.2021
According to new data, peer-to-peer (P2P) bitcoin trade volumes in Kenya and Ghana surged in Q1 of 2021, with the two countries now ranked second and third respectively. On the other hand, volumes in South Africa, which occupied second place in 2020, dropped marginally. Consequently, South Africa...
African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’
31.3.2021
As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders. More Than Just an Investment Thus in addition to becoming...
Optimism abounds for crypto and blockchain adoption at virtual Blockchain Africa
22.3.2021
Blockchain Africa highlights the remaining hurdles that stand in the way of widespread adoption of crypto and blockchain on the continent
Nigeria's central bank not discouraging people from trading crypto, says governor
21.3.2021
The governor of the Central Bank of Nigeria has seemingly softened his stance on crypto for individuals, if not banks
Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking Sector
21.3.2021
A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says...
Africa’s solarized digitalization agenda in the time of coronavirus
20.3.2021
The COVID-19 pandemic has highlighted the necessity for the digitalization and sustainable development of African economies
Nigeria to Pay 1.2 Cents for Each Dollar Remitted to the Country to Combat Cryptocurrency Use
9.3.2021
The Central Bank of Nigeria (CBN) has announced a scheme that seeks to boost international remittances as well as to encourage the use of official corridors when retrieving funds. The CBN’s move to incentivise recipients follows the plummeting of the country’s official remittances...
Nigerian Vice President Yemi Osinbajo Contradicts Central Bank, Says Cryptocurrencies Must Regulated and Not Prohibited
27.2.2021
In an apparent rebuke of the Central Bank of Nigeria (CBN), the Vice President of Nigeria Yemi Osinbajo says the country’s monetary authorities must consider regulating crypto assets. He adds that instead of “killing the goose that might lay the golden egg”, Nigerian monetary...
Blockchain and crypto will challenge current finance, Nigeria VP says
27.2.2021
Yemi Osinbajo sees potential for crypto and blockchain
Why is Bitcoin $86K in Nigeria? Here's why the BTC premium is huge in some countries
26.2.2021
Traders are accustomed to slight price differences between exchanges, but is a 70% gap sustainable?
Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is ‘in the Best Interests of Nigerians’
26.2.2021
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has defended the apex bank’s decision to exclude cryptocurrency transactions from the banking ecosystem. In his testimony before the Nigerian Senate, Emefiele claimed that the February 5 directive is “in the best...