Report: Four Nigerian Lenders Penalized for Failing to Block Crypto Transactions

April 7, 2022 Bitcoin.com

The Nigerian central bank recently fined four financial institutions it accuses of failing to stop clients from using their respective platforms to conduct cryptocurrency transactions. According to one of the affected institutions, the central bank is using a certain “advanced ability” to detect crypto transactions. Lenders Unable to Detect Crypto Transactions The Central Bank of […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Nigerian Government Minister Calls for Regulation of Crypto, Considers Additional Body ‘to Play That Role’

December 14, 2021 Bitcoin.com

bitcoin.com

A minister in the Nigerian government has called on authorities in the country to consider regulating cryptocurrencies instead of clamping down on them. The Law Does Not Stipulate Who Regulates Cryptos In what appears to be a rebuke of the Central Bank of Nigeria (CBN) over its stance on cryptocurrencies, a minister in the Nigerian […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Nigerian Experts: CBDC Still Unattractive to Users Despite Claim of ‘Excellent’ Adoption Rate

December 13, 2021 Bitcoin.com

bitcoin.com

Nigerian blockchain and cryptocurrency experts have suggested that many prospective users will only consider adopting the e-naira once the central bank has done enough to make the CBDC (central bank digital currency) an attractive option to use. E-Naira Still Unattractive to Users Some Nigerian experts have expressed doubts about claims by the Central Bank of […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Tanzanian Central Bank Preparing for CBDC to Ensure Country Is Not Left Behind

November 28, 2021 Bitcoin.com

Bank of Ghana

Florens Luoga, the governor of the Bank of Tanzania, said the apex bank has kickstarted preparations for a central bank digital currency. He said the bank was doing this to ensure Tanzania is not left behind as other countries adopt digital currencies. Keeping Abreast With Developments on the Continent The Bank of Tanzania (BOT) has […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Nigerian Central Bank Intensifying Fight Against Cryptocurrency Traders

November 10, 2021 Bitcoin.com

bitcoin.com

Just a few days after launching the e-naira digital currency, the Central Bank of Nigeria (CBN) is now reportedly ramping up the pressure against cryptocurrency traders. Bank Employees Warned In a memo to its staff seen by Bitcoin.com News, one of Nigeria’s leading banks, FCMB, warns its employees against aiding cryptocurrency traders. The bank reveals […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Nigerian Foreign Exchange Crisis: Central Bank Issues Warning to Microfinance Banks

August 24, 2021 Bitcoin.com

bitcoin.com

The Central Bank of Nigeria (CBN) has threatened punitive sanctions against microfinance banks that violate the conditions of their operating license through the performance of foreign currency-related transactions. In its latest circular, the CBN claims that microfinance banks have a very low capitalization hence their handling of such transactions threatens the stability of the financial […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

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

August 19, 2021 Bitcoin.com

Bamboo Systems

The 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 […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Report: Nigeria’s Digital Currency to Be Designated ‘Critical National Infrastructure’

August 11, 2021 Bitcoin.com

bitcoin.com

According to a report, the Central Bank of Nigeria (CBN) is planning to have its proposed digital currency designated “critical national infrastructure” in order to protect it from operational and cyber-security risks. In addition, the CBN will also apply regulatory and compliance mechanisms to prevent what it calls “disruptive competition for electronic money.” Cost Versus […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market

July 28, 2021 Bitcoin.com

bitcoin.com

The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after accusing them of failing to stick to their core mandate. Instead of providing forex to retail users, BDCs are believed to be supplying the scarce resource to so-called “illegal” dealers. […]

Crypto Advocacy Group Coin Center Names Top Three Threats Against Digital Asset Industry

Report: Nigeria to Start Piloting Digital Currency in October

July 23, 2021 Bitcoin.com

Bank of Ghana

The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency project, or the “e-naira,” is expected to use the Hyperledger Fabric blockchain. CBDC Comes to Life The revelation of the launch date for Nigeria’s central […]

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