Tag: Central bank of Nigeria
Crypto Crackdown in Nigeria: Balancing Economic Stability and Innovation
Nigeria has blocked access to prominent crypto-based entities like Coinbase, Binance, and Kraken to boost its failing fiat currency.
As per officials, the...
Zone’s 2025 Remittance Product: A Paradigm Shift in International Money Transfers
Zone's aspirations for regulated DeFi signal a broader trend toward embracing cutting-edge technologies to overcome longstanding financial challenges.
It harbours ambitious...
Nigeria’s Crypto Renaissance: ASC’s cNGN Stablecoin Signals Progress in Web3
On January 4, the ASC officially announced the launch of the cNGN stablecoin scheduled for Tuesday, February 27, 2024.
The success of the...
Nigeria’s Crypto Laws: CBN Revisits Laws to Fuel Transparency and Security in 2024
In December 2023, the Central Bank of Nigeria removed the two-year restrictions on crypto transactions.
According to the rules, crypto providers can open...
Nigeria’s Crypto Triumph: Shattering CBN Restrictions Amid Global Crypto Winter
In 2021, the CBN warned banks and financial institutes that facilitating payment for cryptocurrency changes was prohibited.
In the first three months of...
Access Bank’s Freeze on Crypto Trader Accounts Sparks Controversy
Access Bank has obtained a court order to freeze all crypto trading accounts for investigations.
Digital asset fraud is common today, with...
Central Bank of Nigeria embraces NFC technology to boost eNaira app adoption
The CBDC mobile app has been upgraded with Near Field Communication (NFC) technology.
This enhancement allows mobile devices and payment terminals to interact...
CBDC shortcomings in Africa as highlighted by eNaira
Nigeria had a peer-to-peer transaction volume of over $1.1 billion between January 2021 and June 2022
In 2022, Nigeiria had an fx...
Nigeria: The future of Web3, crypto ahead of 2023 elections
Nigeria became the first African country to launch a CBDC
In 2021, Nigeria was ranked the third country globally with the highest bitcoin...
Nigeria shifts to accept cryptocurrency as a source of revenue
On February 5 2021, the Central Bank of Nigeria released a ruling that ordered all financial institutions to stop facilitating crypto transactions with...
African Central Banks present valid arguments against CBDCs and digital assets
Cryptocurrency within Africa has met apparent and defined opposition from the majority of the African central banks.
The Central Bank of Egypt...
Crypto making millionaires in Nigeria despite government hostility
Aside from the astronomic rate of crypto circulating within Nigeria, some diverted into other blockchain ventures. Nigeria's NFT marketplace has significantly risen over...
Why Nigerians should be wary of Central Bank Digital Currencies
Nigerians need to be wary about the eNaira primarily because the bad and ugly sides outweigh the excellent side of this currency
Unlike...
Nigeria weaponizes the eNaira against crypto adoption
The eNaira upgrade will allow customers to do transactions such as paying for DSTV, electric bills, and paying for flight tickets
Decentralization takes...
