The crypto community in Nigeria is ecstatic about the recent ratification of the National Blockchain Policy. Because it means the sector has an opportunity to grow. The impact of this new legislation on Nigeria’s blockchain ecosystem has been discussed by a few industry leaders in the country. A National Blockchain
Nigeria’s digital revolution took a bold step forward on Wednesday, May 3rd, as Prof. Ibrahim Pantami, Minister of Communications and digital economy, spearheaded the adoption of blockchain technology on a national level. BREAKING: The Federal Executive Council today approved @FMoCDENigeria’s National Policy on Blockchain. What this means is that @NigeriaGov
The Federal Government of Nigeria has been contacted by the leading global blockchain business Gluwa to promote the creation of a crypto policy framework that might help to unleash the potential of blockchain in Africa’s largest economy and open up new avenues for innovation and economic growth. As of now,
Blockchain-powered Nigerian fintech to integrate ThetaRay’s SONAR AI-powered technology to increase growth opportunities with a trusted service LAGOS, Nigeria & NEW YORK & TEL AVIV, Israel–(BUSINESS WIRE)–Zone (formerly Appzone), Africa’s first regulated layer-1 blockchain network for payments, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they
Over 13 million e-naira wallets have been installed in Nigeria since October 2022. And the value of transactions in the country’s central bank digital currency (CBDC) increased by 63% to $47.7 million (₦22 billion). In his March 21 address to the local press, Governor Godwin Emefiele also said that the
We TraiCon Events will be hosting Nigeria’s premier fintech event titled as “Nigeria Fintech Revolution Summit” scheduled on 10th & 11th May 2023 in the Lagos, Nigeria. This forum will be attended by over top 300+ participants includes BFSI experts, fintech leaders, ministry & central bank authorities, investors & corporates
As the central bank of Nigeria has been actively encouraging its people to switch to digitalized currency, the price of Bitcoin premium in the country has risen to unsustainable heights. The current price of one bitcoin on the Nigerian cryptocurrency market NairaEX is 17.8 million Naira, or $38,792. Compared to
Modibbo R. Hamman Tukur, the Director of the Nigerian Financial Intelligence Unit (NFIU), has announced that, as of March 1, government employees in Nigeria would no longer be able to withdraw cash from government accounts. According to reports, the new law applies to officials at all levels of government and
The Central Bank of Nigeria (CBN) has announced that the weekly withdrawal limit for individual banking customers would increase to $1,120 (N500,000) from January 9, 2023, from the current limit of under $50 (established on December 6). The CBN has imposed a cash withdrawal limitation for corporations of $11,200, a
To keep up with global trends, the Nigerian government is expected to approve legislation regulating Bitcoin and other cryptocurrencies in the near future. On December 18th, Punch Newspapers, a leading publication in Nigeria. Published the article after interviewing House of Representatives Committee on Capital Markets Chairman Babangida Ibrahim. The local
