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Nigerian Presidential Hopeful Says He Supports Digital Currencies but Wants the Industry Regulated

Nigerian Presidential Hopeful Says He Supports Digital Currencies but Wants the Industry RegulatedNigerian presidential hopeful, Bukola Saraki, recently said he supports the digital currency industry which he claimed has created opportunities for the country’s youth. However, he insisted that there is a need for the enactment of laws that guide players in this space. Digital Currencies Create Opportunities for the Youth One of Nigeria’s presidential aspirants, Bukola […]

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Nigerian Crypto Firm Executive: Central Bank Prohibition Led to Growth in Crypto Awareness

Nigerian Crypto Firm Executive: Central Bank Prohibition Led to Growth in Crypto AwarenessThe chief marketing officer (CMO) of a cryptocurrency payments solution company, Rotimi Ogunwede, has insisted that the Central Bank of Nigeria (CBN)’s decision to bar crypto entities from the banking system may be the reason why Nigerians are now more knowledgeable about cryptocurrencies. CBN Prohibition Forced Patricia to Establish Operations Outside of Nigeria An executive […]

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Nigerian Judge Rules in Favor of Accused Crypto Startup, Accounts to Be Reopened

Nigerian Judge Rules in Favor of Accused Crypto Startup, Accounts to Be ReopenedA Nigerian Federal Court judge recently ruled that the two frozen bank accounts belonging to Rise Vest Technologies, which is accused of trading cryptocurrencies, must be reopened. CBN’s Bank Account Freeze Order Dismissed In a ruling that overturns the Central Bank of Nigeria (CBN)’s August 17 decision to freeze the bank accounts, Judge Taiwo Taiwo […]

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Report: Nigerian Securities and Exchange Commission Sets Up Fintech Division for Crypto Research

Report: Nigerian Securities and Exchange Commission Sets Up Fintech Division for Crypto ResearchNigeria’s securities regulator, the Nigerian Securities and Exchange Commission (SEC) has set up a fintech division “to study crypto investments.” This was revealed by Lamido Yuguda, the director-general of the SEC during an interview. Protecting Crypto Investors In the interview, Yuguda explains that the study’s findings will help inform the SEC of the best ways […]

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Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations

Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex RegulationsThe Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days after a Federal High Court in Abuja acceded to an “ex parte motion.” The ex parte motion, which is a form of temporary suspension, was granted after a Nigerian chief, Micheal Kaase Aondoakaa, filed the […]

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Leader of Nigerian Crypto Stakeholders’ Body Welcomes the E-Naira — Says It ‘Comes With No Magic Wand’

Leader of Nigerian Crypto Stakeholders’ Body Welcomes the E-Naira — Says It ‘Comes With No Magic Wand’Nigeria’s proposed digital currency, the e-naira, is likely to be a welcome boost to ongoing efforts to reduce the number of Nigerians that are financially excluded, a leader of a stakeholders’ body has said. However, according to Senator Ihenyen, the president of Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), the success of such a […]

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Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market Exchanges

Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market ExchangesIt 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 of peer-to-peer trading. ‘Central Bank of Nigeria’s Actions […]

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Nigerian Twitter Suspension Has Unintended Effects on Country’s Crypto Community

Nigerian Twitter Suspension Has Unintended Effects on Country’s Crypto CommunityOn the surface, it looks like Nigeria’s suspension of Twitter operations on June 4 may have been triggered by the microblogging company’s decision to take down a controversial tweet — from President Mohammed Buhari. However, as some observers have noted, the removal of the tweet may have presented the Nigerian government with the perfect excuse […]

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The CBN Says Nigeria Will Have a Digital Currency Before End of Year

The CBN Says Nigeria Will Have a Digital Currency Before End of YearNigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would […]

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Central Bank of Nigeria Governor Says “Digital Currency Will Come to Life” but Attacks Volatile Cryptocurrencies

Central Bank of Nigeria Governor Says “Digital Currency Will Come to Life” but Attacks Volatile CryptocurrenciesCentral Bank of Nigeria (CBN) governor, Godwin Emefiele, says digital currency “will come to life even in Nigeria” just a few months after the central bank ordered banks to stop serving the crypto industry. While acknowledging his country’s position as one of the leading crypto markets in the world, Emefiele however insists his organization is […]

Investors create group to take legal action against ZKasino co-founders