Nigerian Files Lawsuit to Overturn Crypto Ban, Seeks BTC Commodity Status

August 11, 2024 Bitcoin.com

Africa

A Nigerian bitcoin proponent has launched a lawsuit challenging government restrictions on owning, using, and trading digital assets. The proponent said the lawsuit seeks to remove the blockade on cryptocurrency exchanges, ensuring all Nigerians have unrestricted access. Crypto Restrictions Deny Residents Access to Inflation Hedging Tools Nigerian cryptocurrency advocate James Utudor filed a landmark lawsuit […]

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Chairman of Nigerian Economic Crimes Commission: Crypto Growth Is a ‘Far Greater Danger to the World Economy’

September 8, 2021 Bitcoin.com

Abdulrasheed Bawa

The chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has singled out the growth of cryptocurrencies as something that now poses “a far greater danger to the world economy.” Therefore, in order to deal with such dangers or threats, Bawa advocates for a “collective and collaborative approach by authorities around the world.” […]

Ethereum core developer departs for AI amid leadership concerns

Official Remittances to Nigeria Plummet by Almost 40% in a Year When Crypto Use Surged

May 14, 2021 Bitcoin.com

Abokifx

According to the latest data from the World Bank, international money transfers into Nigeria dropped by nearly 40% from $23.8 billion recorded in 2019 to $17.2 billion in the past year. Yet despite this fall, remittances, which account for 4% of the country’s GDP, still remain an important source of foreign exchange for the oil-rich […]

Ethereum core developer departs for AI amid leadership concerns

Nigerian Regulator Issues ‘Extreme Caution’ Crypto Investments Warning

April 28, 2021 Bitcoin.com

Bitcoin

Nigeria’s Economic and Financial Crimes Commission (EFCC) has become the latest body to warn of risks associated with cryptocurrency investments. In a public warning, the law enforcement agency argues that investing in cryptos “is a high-risk activity as the terrain is largely unregulated and prone to fraud.” Proliferation of Scams According to a report that […]

Nigeria Bitcoin