The Central Bank of Nigeria (CBN) is moving ahead with plans to upgrade the country’s central bank digital currency (CBDC) to be used on a wider range of goods and
Category: cbn
Report: Nigeria to Start Piloting Digital Currency in OctoberReport: Nigeria to Start Piloting Digital Currency in October
The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency
Report: Nigeria to Start Piloting Digital Currency in OctoberReport: Nigeria to Start Piloting Digital Currency in October
The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency
Nigeria’s June P2P Bitcoin Trade Volumes Surged Again Despite Central Bank’s Crypto RestrictionsNigeria’s June P2P Bitcoin Trade Volumes Surged Again Despite Central Bank’s Crypto Restrictions
Nigeria’s peer-to-peer bitcoin trade volumes went up to just under $38 million in June 2021, the latest data shows. This surge becomes only the second time Nigerian P2P traded volumes
Nigerian Central Bank Threatens Jail Time for Citizens Caught Defacing Naira BanknotesNigerian Central Bank Threatens Jail Time for Citizens Caught Defacing Naira Banknotes
Fighting to stop the value of the naira from dropping further, the Central Bank of Nigeria (CBN) faces yet another problem: abuse of naira banknotes. According to the CBN’s Aladeen
Nigeria’s Naira Loses Ground on Forex Black Market Just a Few Days After DevaluationNigeria’s Naira Loses Ground on Forex Black Market Just a Few Days After Devaluation
The Nigerian naira currency lost further ground against major currencies after it depreciated to 493 nairas for one dollar on the black market on May 25, 2021. Before the latest
Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency WoesNigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes
According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu
Official Remittances to Nigeria Plummet by Almost 40% in a Year When Crypto Use SurgedOfficial Remittances to Nigeria Plummet by Almost 40% in a Year When Crypto Use Surged
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