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
Category: Central Bank of Nigeria
Nigerian Twitter Suspension Has Unintended Effects on Country’s Crypto CommunityNigerian Twitter Suspension Has Unintended Effects on Country’s Crypto Community
On the surface, it looks like Nigeria’s suspension of Twitter operations on June 4 may have been triggered by the microblogging company’s decision to take down a controversial tweet —
Nigerian Currency Overvalued by 10% Says Central Bank GovernorNigerian Currency Overvalued by 10% Says Central Bank Governor
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has reportedly told investors that the country’s currency is overvalued by 10%. The governor’s remarks, which have been confirmed
Nigerian Learning Institution Says It Now Accepts Crypto as Payment for School FeesNigerian Learning Institution Says It Now Accepts Crypto as Payment for School Fees
A learning institution in Nigeria’s Kano state, the New Oxford Science Academy, recently announced it will be accepting cryptocurrency as payment for school fees. According to the school’s proprietor, Sabi’u
Report: Nigerian NFT Artists Thrive Despite Bubble Fears and Ongoing Central Bank Anti-Crypto RestrictionsReport: Nigerian NFT Artists Thrive Despite Bubble Fears and Ongoing Central Bank Anti-Crypto Restrictions
Nigerian artists are now increasing their net worth by leveraging the art world’s lucrative pivot to non-fungible tokens (NFT). According to reports, this move to NFTs is happening despite the
New World Bank Report: Nigeria’s Exchange Rate Policies Fueling Inflation, Affecting Food PricesNew World Bank Report: Nigeria’s Exchange Rate Policies Fueling Inflation, Affecting Food Prices
Nigeria’s use of multiple exchange rates regimes may have contributed to a rise in the country’s inflation rate, the latest World Bank report has said. In addition, the report says
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
After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to ‘Market Forces’After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to ‘Market Forces’
Nigerian Finance Minister Zainab Ahmed has denied widespread reports that the Central Bank of Nigeria (CBN) had sanctioned the devaluation of the local currency sometime in May 2021. Instead, she
The CBN Says Nigeria Will Have a Digital Currency Before End of YearThe CBN Says Nigeria Will Have a Digital Currency Before End of Year
Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In
Nigerian Lawmakers Slam Naira Devaluation, Warn of Inflation ImplicationsNigerian Lawmakers Slam Naira Devaluation, Warn of Inflation Implications
Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. In his unanimously adopted motion, House Representative Bamidele