2021-6-11 12:04 |
The Central Bank of Nigeria says it is gearing up to test a sovereign digital currency to ease foreign remittance restrictions.
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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.
2021-4-17 14:09 | |
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Observers until now regarded Nigeria as one of the major players on the African continent when it comes to cryptocurrency adoption. However, the latest stance by the Central Bank of Nigeria (CBN) could drastically alter this view.
2021-2-6 17:14 | |
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The Central Bank of Nigeria (CBN) reminded financial service businesses that dealing with cryptocurrency is prohibited. The post Nigeria’s central bank moves to prohibit Bitcoin and cryptocurrencies appeared first on CryptoSlate.
2021-2-6 03:00 | |
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According to data by Paxful, a top crypto trading platform, Nigeria had the second-largest crypto trading volume in the world, placing the country firmly in line to becoming one of the biggest crypto hubs in the world moving forward.
2021-2-6 18:41 | |
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Nigeria, one of Africa's largest cryptocurrency markets, has banned Bitcoin trading
2021-2-5 16:02 | |
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The Central Bank of Nigeria’s “Naira defense” policy is pushing more Nigerians toward Bitcoin and crypto adoption.
2020-12-18 15:31 | |
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The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the embrace of the parallel market exchange rate by some professionals in that country is unfair and unfortunate. The CBN governor says the parallel foreign exchange market only accounts for a share of the market that does not exceed 5%.
2020-12-4 06:00 | |
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A Nigerian protest group called Feminist Coalition is asking well-wishers to make donations via bitcoin after authorities reportedly blocked the organization’s bank account. Feminist Coalition is one of the many groups spearheading protests against alleged police brutality by a Nigerian police unit, the Special Anti-Robbery Squad (SARS).
2020-10-15 10:45 | |
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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.
2020-9-2 13:04 | |
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The Nigerian government continues to devalue its currency, the naira, according to reports from the central bank. The bank offered naira at a recent auction at 380 to the dollar, an increase of over 5%.
2020-7-7 17:13 | |
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Conceived as an alternative to traditional financial and banking solutions, cryptocurrencies have come a long way. However, despite mainstream recognition, there remain many, both in governments and mThe post Nigeria's Bitcoin interest flies in the face of Central Bank's caution appeared first on AMBCrypto.
2019-12-9 18:06 | |
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The Central Bank of Nigeria (CBN) has warned that bitcoin and digital currencies are not legal tenders but Nigerians don’t seem to care. Bitcoin Adoption Rising Despite Apex Bank, Senate Warnings In its December 2019 edition of ‘The Nigerian Banker’, the Chartered Institute of Bankers of Nigeria (CIBN) highlighted how bitcoin is booming in Nigeria, despite the central bank’s anti-crypto stance.
2019-12-9 22:33 | |
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Spanish police have arrested 35 people allegedly involved in an international counterfeit bank card ring which laundered its profits using Bitcoin. Criminals made more than $675,855 (€600,000) and laundered more than $891,250 (€1,000,000), according to local media reports.
2019-6-14 12:51 | |
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It’s Monday which means it’s time for a wrap-up of the weekends top cryptocurrency and blockchain headlines. Here’s Moonday Mornings for you. 1. The United Global Resolve For Peace is petitioning the Central Bank of Nigeria after thousands of the country’s residents claim to have been “defrauded” out of millions of dollars earned from trading cryptocurrencies on exchange service Paxful, The Guardian, a local Nigerian outlet reports.
2019-4-8 11:17 | |
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A Nigerian Non-Governmental Organization, United Global Resolve For Peace (UGRF), has petitioned the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC) and the Ministry of Foreign Affairs.
2019-4-7 15:32 | |
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A poor and densely populated country stuck at number 137 worldwide in the economic prosperity rankings, with a per capita GDP of just about $2,000 – this would be the perfect proving ground to show once and for all that left wing economics can successfully turn the fortunes of a struggling people around, and give the world an alternative to its failing capitalist system.
2019-3-11 15:00 | |
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The Union Bank of Nigeria sent out an email to its customers, warning them cryptocurrency activity will be monitored and that the bank might close accounts linked to such transactions.
2018-11-30 20:36 | |
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Nigerian digital asset owners have reacted angrily to Union Bank’s threat to close all cryptocurrency-linked accounts. Investors have accused the local banking system of hypocrisy, asserting that banks are “unfit” and “scammers” that continue to steal from the poor through spurious charges such as ATM maintenance fees and SMS alerts.
2018-11-29 23:10 | |
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A large commercial bank in Nigeria has threatened to shut down an undisclosed number of cryptocurrency-related accounts without explanation. Lagos-based Union Bank claims that any decision to do so would be in line with the Central Bank of Nigeria’s (CBN) past warnings about cryptocurrency trading.
2018-11-28 02:10 | |
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In 2017, the Central Bank of Nigeria (CBN) placed a ban on traditional banking systems to halt transactions in Bitcoin and other virtual currencies saying that the “Central bank cannot control or regulate Bitcoin”.
2018-11-17 19:04 | |
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Central Bank of Nigeria (CBN), which doesn’t recognize cryptos as legal tender are getting requests from the country’s Fintech startups to provide legal guidelines for the cryptocurrency and blockchain industry.
2018-11-12 08:00 | |
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Nigeria’s financial technology startups have called on the Central Bank of Nigeria (CBN) to provide legal guidelines for the cryptocurrency and blockchain industry. A lack of regulation is driving investment out of Africa’s biggest economy to areas like Rwanda and Europe while fomenting uncertainty, according to the Electronic Payment Practitioners Association of Nigeria (E-ppan).
2018-11-10 02:15 | |
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Can bitcoin be used for social good? If anyone thinks so, it’s Ray Youssef, the CEO of peer-to-peer bitcoin platform Paxful. A successful entrepreneur in the crypto and blockchain space, Youssef comes from humble beginnings and understands the importance of maintaining control over one’s finances.
2018-9-15 21:50 | |
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The Central Bank of Brazil has initiated the second phase of its central bank digital currency project, DREX, aiming to demonstrate trade finance as a new use case. In a press release on Nov. 19, Brazil’s central bank announced it…
According to the results of the 2023 BIS survey on central bank digital currencies and crypto, only 12% of central banks are planning to issue retail CBDCs in the mid-term. A recent survey by the Bank for International Settlements (BIS)…
The BOJ hiked the benchmark borrowing cost by 10 basis points, abandoning the prolonged negative interest rate policy.
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.
NITDA chief Kashifu Inuwa Abdullahi said it’s crucial to take proactive measures to harness AI benefits and mitigate threats.
The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option.
The answer again is regulation, although this time, the suggested regulation looks a lot like central bank co-option.