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CBDC Could Increase Nigeria’s GDP by $29 Billion in 10 Years: President Buhari

CBDC Could Increase Nigeria’s GDP by  Billion in 10 Years: President BuhariThe Nigerian president, Muhammadu Buhari, suggested in a recent speech that the new e-naira central bank digital currency (CBDC) could lead to an increase in the value of his country’s GDP by $29 billion in ten years. Africa’s First CBDC President Buhari made bold remarks in his speech at Monday’s launch of the e-naira CBDC, […]

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IMF Partly Blames Uncertainty in Nigeria’s Forex Market for Drop in Remittances

IMF Partly Blames Uncertainty in Nigeria’s Forex Market for Drop in RemittancesThe uncertainty that prevails in Nigeria’s foreign exchange market is partly to blame for the plunge in cross-border remittances into the country, an official with the International Monetary Fund (IMF) has said. Covid-19 Another Contributing Factor According to a report by local news outlet Punch, the official, Abebe Selassie, said this in response to a […]

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Nigerian Agency Finally Registers Blockchain Start-up, Blames Employee for Rejection of First Application

Nigerian Agency Finally Registers Blockchain Start-up, Blames Employee for Rejection of First ApplicationJust a few days after reports emerged that it had refused to process a company registration application by Flint API limited, the Nigerian agency Corporate Affairs Commission (CAC) has now registered the blockchain start-up. The agency however blames an unnamed employee for the failure to process the application. The CAC’s About-turn According to a report, […]

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Nigerian Central Bank Says It Is Now Ready to Launch CBDC, Downplays Previous Failure

Nigerian Central Bank Says It Is Now Ready to Launch CBDC, Downplays Previous FailureAfter failing to roll out its CBDC on October 1, the Central Bank of Nigeria (CBN) has released a document in which it reiterates its commitment to launching the e-naira. In fact, in this document titled The Design Paper for the E-naira, the CBN says it is now ready to launch Nigeria’s CBDC. CBN Prioritizes […]

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Impossible to Run Away From Cryptocurrencies Says Zimbabwe Finance Minister

Impossible to Run Away From Cryptocurrencies Says Zimbabwe Finance MinisterZimbabwe’s increasingly pro-crypto finance minister, Mthuli Ncube, recently told his colleagues in government that it is now impossible to run away from cryptocurrencies. Ncube said this after revealing that some 30% of the country’s youth are now invested in cryptocurrencies. Zimbabwe Ready to Make Concessions on Cryptos According to a report by the Herald, Ncube […]

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Coingecko Publishes Q3 Crypto Report — BTC Outperformed Every Major Asset Class, Altcoins Decouple

Coingecko Publishes Q3 Crypto Report — BTC Outperformed Every Major Asset Class, Altcoins DecoupleOn Thursday, the crypto asset aggregation portal Coingecko published the firm’s 2021 third-quarter report which shows a number of different findings. According to the study, for the most part, the crypto economy recovered from the market downturn in May as the top 30 market caps grew by 31% in Q3. The report shows that altcoins […]

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Report: Kenya Has Fourth-Highest Interest in Cryptocurrency Globally

Report: Kenya Has Fourth-Highest Interest in Cryptocurrency GloballyKenya has the fourth-highest interest in cryptocurrency globally, a new research study by Broker Chooser has found. According to the study, only three countries — Ukraine, Russia, and the United States — have had higher searches for cryptocurrency in the last 12 months than Kenya. Crypto Searches in Kenya Highest in Africa According to a […]

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Nigeria Central Bank Governor Says CBDC Launch Just ‘a Couple of Days’ Away

Nigeria Central Bank Governor Says CBDC Launch Just ‘a Couple of Days’ AwayThe governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the country’s upcoming digital currency will be launched “in a couple of days from now.” According to the governor, the digital currency which is also known as the e-naira will be the first of its kind in Africa. Nigeria to Launch CBDC […]

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Local Experts Say Zimbabwe Not Softening Its Stance on Cryptocurrency Just Yet

Local Experts Say Zimbabwe Not Softening Its Stance on Cryptocurrency Just YetZimbabwean crypto and economic experts have suggested Finance Minister Mthuli Ncube’s positive comments about cryptocurrencies do not necessarily mean monetary authorities are about to remove restrictions that were imposed in 2018. The Case for Blockchain Instead, the experts claim the remarks show that the government is only interested in aspects of blockchain technology that are […]

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