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Nigerian Currency Redesign Controversy: Naira Slips by Almost 20%, Experts See Exchange Rate Reaching 1,000:1 USD Before Year End

Bitcoin.com
Nigerian Currency Redesign Controversy: Naira Slips by Almost 20%, Experts See Exchange Rate Reaching 1,000:1 USD Before Year End
Andrews Elueni
Nigerian Currency Redesign Controversy: Naira Slips by Almost 20%, Experts See Exchange Rate Reaching 1,000:1 USD Before Year EndThe Nigerian currency appeared to accelerate its decline versus the U.S. dollar after it slipped to a new low of 900 naira for every dollar. The currency has continued to depreciate even after the Economic and Financial Crimes Commission’s raid on suspected illegal foreign exchange dealers. Continuing U.S. Dollar Shortages Following the Oct. 27 announcement […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Nigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes

Bitcoin.com
Nigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes
bitcoin.com
Nigeria’s Central Bank Doubles Down on Plans to Introduce Newly Designed Naira BanknotesThe Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab Ahmad. The central bank insists the move is long overdue and urged Nigerians “to support the currency redesign project which is in the overall interest […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Nigerian Central Bank Says It Will Release New Banknotes in December — Naira Falls to New Low

Bitcoin.com
Nigerian Central Bank Says It Will Release New Banknotes in December — Naira Falls to New Low
Abdulrasheed Bawa
Nigerian Central Bank Says It Will Release New Banknotes in December — Naira Falls to New LowStarting December 15, Nigerians will be using newly-designed 100, 200, 500 and 1,000-naira banknotes, the governor of the Central Bank of Nigeria (CBN) has said. The announcement has since resulted in the naira’s parallel market exchange rate versus the U.S. dollar dropping to a new low of N781:$1. Redesigning Currency a Global Best Practice The […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Nigerian CBDC Still Not Widely Used a Year After Launch

Bitcoin.com
Nigerian CBDC Still Not Widely Used a Year After Launch
Adesoji Solanke
Nigerian CBDC Still Not Widely Used a Year After LaunchOn October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency. In a move aimed at boosting the use of the CBDC, the central bank is offering a 5% discount to motorized rickshaw drivers and passengers that use the e-naira. Kingsley […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Nigerian Presidential Hopeful’s Party Says It Will Review Country’s Blockchain and Crypto Policy if Elected

Bitcoin.com
Nigerian Presidential Hopeful’s Party Says It Will Review Country’s Blockchain and Crypto Policy if Elected
Africa
Nigerian Presidential Hopeful’s Party Says It Will Review Country’s Blockchain and Crypto Policy if ElectedThe party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has promised to set up an advisory committee to review regulations that govern blockchain and virtual asset services if it wins in the upcoming elections. The All Progressives Congress also said it “will work with the Central Bank and the financial sector to carefully review […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar

Bitcoin.com
Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar
bitcoin.com
Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US DollarA surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a report has said. One Nigerian currency dealer said he expects the naira to further depreciate to 750 per […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Kenyan Central Bank Raises Key Rate by 75 Basis Points

Bitcoin.com
Kenyan Central Bank Raises Key Rate by 75 Basis Points
bitcoin.com
Kenyan Central Bank Raises Key Rate by 75 Basis PointsThe monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act, the committee cites growing inflationary pressures and increased global risks, as well as their likely impact on the domestic economy. Growing Inflationary Pressures Following its […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Kenyan Central Bank Says It’s ‘Craziness’ to Convert Country’s Reserves to Bitcoin

Bitcoin.com
Kenyan Central Bank Says It’s ‘Craziness’ to Convert Country’s Reserves to Bitcoin
Africa
Kenyan Central Bank Says It’s ‘Craziness’ to Convert Country’s Reserves to BitcoinThe Kenyan central bank governor Patrick Njoroge has described as “craziness” the calls to convert Kenya’s reserves into bitcoin. He added that he would have to be out of his mind before agreeing to this. Njoroge argued that cryptocurrencies like bitcoin are not only volatile, but are hardly solving any problem. CBK Governor Says Converting […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Report: Legal Experts Say Nigeria in Need of ‘Clear-Cut Guidelines’ for Crypto Industry

Bitcoin.com
Report: Legal Experts Say Nigeria in Need of ‘Clear-Cut Guidelines’ for Crypto Industry
Africa Fintech Foundry
Report: Legal Experts Say Nigeria in Need of ‘Clear-Cut Guidelines’ for Crypto IndustryAuthorities in Nigeria have been told to consider upgrading the country’s cryptocurrency regulatory guidelines because current regulations are not consistent with the realities on the ground. According to legal experts, the growing interest in cryptocurrencies by Nigerians means the country needs to have “clear-cut guidelines” for the industry. Nigerians Continue to Defy Central Bank Legal […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

Nigerian Presidential Candidate Says Fixed Exchange Rate Regime ‘Has to End’ — Touts Success of Fintech Unicorn Flutterwave

Bitcoin.com
Nigerian Presidential Candidate Says Fixed Exchange Rate Regime ‘Has to End’ — Touts Success of Fintech Unicorn Flutterwave
bitcoin.com
Nigerian Presidential Candidate Says Fixed Exchange Rate Regime ‘Has to End’ — Touts Success of Fintech Unicorn FlutterwaveA Nigerian presidential election candidate, Peter Obi, has said the local currency’s exchange rate against the dollar must not be fixed but must be determined “by the forces of demand and supply.” Pointing to the success of the Nigerian fintech Flutterwave, the candidate said if elected, his government will create an enabling environment for other […]
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Van Eck reissues 0K Bitcoin price target for current market cycle

Van Eck reissues $180K Bitcoin price target for current market cycle

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