Central Bank of Nigeria

Nigerian Lenders Frustrating CBDC’s Adoption — Central Bank Governor

July 21, 2022 Bitcoin.com

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Apathetic Nigerian lenders are frustrating the e-naira’s adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a channel that would enable Nigerians without bank accounts to open e-naira wallets. E-Naira Undercuts […]

‘BITSANITY’ — Records broken with B in volume for Bitcoin stocks, ETFs

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Nigerian Central Bank Governor Says Fintechs and Cryptos Change the Way Financial Systems Function

July 19, 2022 Bitcoin.com

The Nigerian central bank governor and bitcoin critic, Godwin Emefiele, recently remarked that the rise of fintechs and cryptocurrencies among other technologies have forced banks and financial institutions to change the way they operate. According to Emefiele, this requires the central bank’s monetary policy committee (MPC) to rethink the way it regulates the financial system. […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation

July 7, 2022 Bitcoin.com

bitcoin.com

The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Organizer of Binance-Sponsored Crypto Tour Says Campaign Was Successful, Denies Reports of Arrest

June 17, 2022 Bitcoin.com

bitcoin p2p

A crypto enthusiast and organizer of the Binance-sponsored Blockchain and Cryptocurrency Awareness Tour (BCAT) recently held in Nigeria, has rejected reports he was arrested by security agents reportedly spooked by large crowds that were following the campaign. The enthusiast said the high number of people that attended the BCAT tour proves that Nigerians “want to […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Report: Kenyan and Nigerian Central Bankers Attack Cryptocurrencies but Endorse CBDCs

June 13, 2022 Bitcoin.com

bitcoin.com

Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencies also pose a risk to financial stability. Narrowing the Financial Exclusion Gap The Nigerian and Kenyan central bankers have said cryptocurrencies are too volatile to […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Report: Nigerian Crypto Restrictions and Twitter Ban Have ‘Crippled Foreign Direct Investment in the Fintech Industry’

May 10, 2022 Bitcoin.com

Africa

A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct investment in the fintech industry.” Foreign Direct Investment ‘Crippled’ A new report has found that restrictions imposed by Nigerian authorities on crypto trading may have contributed to the reduced foreign […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Study Finds 33.4 Million Nigerian Adults Hold or Have Traded Crypto in Last 6 Months

April 12, 2022 Bitcoin.com

bitcoin.com

According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months. The report attributes the growing adoption of cryptocurrencies to rising inflation and the plunging value of the local currency. Converting From Fiat to Crypto via P2P […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

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

April 7, 2022 Bitcoin.com

Access Bank Plc

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 […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Rwanda May Not Reach Decision on CBDC Issuance Until End of 2022 — Central Bank Official

March 3, 2022 Bitcoin.com

bitcoin.com

The Rwandan central bank may not know whether it can issue a digital currency until December 2022, when it completes a study that looks at the benefits and risks that come with such a currency, the bank’s deputy governor has said. The Investigation Phase The deputy governor of the Rwandan central bank, Soraya Hakuziyaremye, recently […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of Industry

February 7, 2022 Bitcoin.com

bitcoin.com

The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has said crypto is legit and must be regulated. The group adds that any such regulation should on one hand encourage innovation, but discourage bad actors on the other. Equal Access to Banking and Financial Services The Nigerian blockchain advocacy group, […]

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