Nigerian fintechs crack down on crypto, users face account blocks

The Nigerian central banks attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening.

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New Nigerian President Slates Central Bank’s Interest Rate and Currency Demonetization Policy

The new Nigerian president Bola Ahmed Tinubu has deplored the Central Bank of Nigeria (CBN)’s aggressive interest policy which he has reportedly labeled “anti-people” and “anti-business.” Tinubu also announced the scrapping of a fuel subsidy which has been in existence since the 1970s. Tinubu: Nigeria Needs Lower Interest Rates to Increase Investment and Consumer Spending

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US Banking Crisis: Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor

A recent review of Nigerian banks’ bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank, the governor of the country’s central bank has said. In addition, the governor said the Central Bank of Nigeria’s stringent guidelines help to create a “very safe” banking system. Priority Given to Depositors According to [...]

The post US Banking Crisis: Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor appeared first on Crypto Breaking News.

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ABS-CBN Partners with Theta Labs to Launch NFTs for Popular Shows

ABS-CBN Corporation ventures into blockchain and NFTs by collaborating with Theta Labs to release digital collectibles for hit shows.

The post ABS-CBN Partners with Theta Labs to Launch NFTs for Popular Shows appeared first on BitPinas.

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Nigerian Central Bank Unveils Open Banking Guidelines

The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security across the open banking system.” Customer Permissioned Data Sharing The Central Bank of [...]

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Nigerian Banks Resume Dispensing Recently Demonetized Naira Banknotes

According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetization of the 1,000, 500 and 100-naira banknotes. According to the court, Nigerian residents will continue to use the demonetized banknotes until the end of the year. Court Criticizes Outgoing Nigerian President [...]

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Bitcoin Soars Past $38k in Nigeria as BTC Premiums Exceed 60%

Price of Bitcoin on exchanges like Binance, which is currently at $23,183.27, trades at a premium of 61% in Nigeria.

Continue reading Bitcoin Soars Past $38k in Nigeria as BTC Premiums Exceed 60% at DailyCoin.

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Nigeria to Introduce Bill That Recognizes the Use of Cryptocurrency

An amendment to the 2 Investment and Securities Act of 2007 will allow cryptocurrency use in Nigeria.

Continue reading Nigeria to Introduce Bill That Recognizes the Use of Cryptocurrency at DailyCoin.com.

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Nigeria To Allow Cryptocurrency – Is This The Start Of A New Wave?

Nigeria, one of the most crypto-curious countries, will now officially permit cryptocurrency. Babangida Ibrahim, the House of Representatives Committee on Capital Markets and Institutions chairman, revealed that the committee would soon pass a bill allowing digital currencies in Nigeria, as reported by Punch on December 8th. The report claimed that the bill would enable the SEC to […]

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New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor

The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial inclusion cause. Forcing Currency Hoarders to Return to the Banking System According to the Nigerian central bank governor, Godwin Emefiele, the recently launched naira banknotes

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‘Cryptocurrencies Like Bitcoin Make Global Commerce Easy’ — Founder of Nigerian Crypto Exchange

Despite the Central Bank of Nigeria (CBN)’s Feb. 5, 2021 directive that instructed banks to block crypto entities from the financial system, the demand and use of cryptocurrencies have continued to grow. Not even the central bank’s subsequent crackdown on crypto entities it accused of defying the directive has succeeded in suffocating demand for cryptocurrencies.

The post ‘Cryptocurrencies Like Bitcoin Make Global Commerce Easy’ — Founder of Nigerian Crypto Exchange appeared first on BTC Ethereum Crypto Currency Blog.

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Nigerian Government Enhances eNAIRA to Draw Financial Inclusion

The Central Bank of Nigeria (CBN) has announced the upgrade to its Central Bank Digital Currency (CBDC) dubbed the eNAIRA. (Read More)

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Nigeria upgrades CBDC as crypto restrictions cripple fintech industry

Nigeria’s central bank has upgraded its eNaira to steer the country away from crypto even after a UN report stated that restrictions on digital currencies are stifling the nation's fintech sector.

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Nigerian Agencies Told to Stop ‘Demonizing’ Crypto Industry Players

Nigerian public and law enforcement agencies have been urged to “stop the demonization” of the blockchain and cryptocurrency industry. According to an association that advocates for the risk-based regulation of the crypto industry, financial institutions should not use a Nigerian central bank directive as basis for denying service to industry players. Risk-Based Regulation of Crypto… More

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Nigeria's Central Bank Freezes Bank Accounts Linked to Suspected Illegal Crypto Traders

The central bank of Nigeria has ordered a directive to freeze the bank accounts associated with two individuals and a firm suspected of illegally engaging in crypto trading. (Read More)

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Crypto-loving Nigeria to launch eNaira stablecoin today

Weeks after its postponement, President Muhammad Buhari will officially launch the Nigerian Central Bank Digital Currency, eNaira, at the State House, Abuja, today.

The post Crypto-loving Nigeria to launch eNaira stablecoin today appeared first on CryptoSlate.

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CBN Ready to Launch CBDC eNaira Despite its Previous Failure

BN is ready to launch eNaira despite its previous failure. CBN has released a document in which it repeats its

The post has appeared first on thenewscrypto.com

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MAS Shortlists 15 Firms to Help Pilot its CBDC Program

15 candidates have been chosen to continue vying for the role to help deploy Singapore's CBDC program (Read More)

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CBN Reports $26 Billion in Cryptocurrency Flows Through Binance Nigeria

CBN reveals $26 billion transacted through Binance Nigeria from unknown sources, raising concerns amid naira's decline and increasing regulatory actions. (Read More)

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Nigerian Currency Falls by More Than 30% After Central Bank Announced New Forex Market Rules

The Nigerian currency’s official exchange rate versus the greenback recently plunged to NGN634 per dollar from just under NGN470 per dollar. The central bank’s decision to allow the naira to “float” came a few weeks after Nigerian president Bola Ahmed Tinubu pledged to end the CBN’s multiple exchange rate regime. The Naira Devaluation The Nigerian

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