Nigeria has significantly reduced the daily cap on cash withdrawals from ATMs to encourage the usage of ‘eNaira,’ the Central Bank of Nigeria’s digital currency (CBDC). Individuals and organizations, who violate the government-imposed restrictions will be penalized between 5% and 10%. To enhance digital currency circulation the central bank restriction
A group of Nigerians who are unhappy with Atom Asset Exchange (AAX) allegedly attacked the company’s Lagos headquarters and beat up personnel, as reported by the local press. The irate crowd, allegedly, asked that a ban on withdrawals that had been in place since November 12 be lifted. Legit’s article
Binance the world’s most prominent cryptocurrency exchange announced that once again it has added a fiat gateway for the Nigerian Naira (NGN). Binance making more effort to extend cryptocurrency use and accessibility for the general public. As part of this Nigerian users can now able to deposit and withdraw NGN
The new digital economic zone will assist companies make the switch to blockchain. Collaboration would attempt to establish a “virtual free zone” similar to Dubai’s. Binance and Nigeria are in talks to establish a blockchain-based digital economic zone in Nigeria. The team at Binance has been on a massive expansion
According to the CoinGecko analysis Nigeria got 1 place with a score of 371. The ranking score is given to countries by total search score. According to a CoinGecko analysis, Nigeria and the United Arab Emirates are two nations that are investing in cryptocurrencies more eagerly than others. These nations
Developing Africa Group has been granted exclusive rights under the agreement. The project is a significant step forward in the worldwide use of cryptocurrencies. Nigeria’s government would have exclusive intellectual property rights for a national wallet for the next three years. The Developing Africa Group has agreed to help build
CBN upgrades its CBDC, e-Naira. Urges the usage of e-Naira over fiat currency. All financial assistance from the Nigerian government to be in e-Naira. The play of Central Bank Digital Currency (CBDC) has indeed become extremely vital for a nation to keep up its banking sector and financial economy. Ever
LBank has conducted another blockchain training event in Nigeria in partnership with Litedex Protocol. As part of its efforts to drive development and adoption of blockchain technology in Nigeria, LBank, the top crypto exchange, recently organised “Abuja Blockchain Konnect 2022.” LBank believes that blockchain is a hot topic and sees
The inclusion of social sentiment data considerably influenced the indicator’s value. Nigeria’s decision to develop its own digital currency surprised many. eNaira was introduced by Nigeria’s central bank in October after the country prohibited the banking trade of cryptocurrencies in February last year. Compared to other countries, Nigeria was the
Decentralized cloud storage solutions were built to use the blockchain. There is a lot of data kept in one place, making them an ideal target for hackers. If everyone in the ecosystem contributes to developing the vital infrastructure, Web 3.0 can take off. That’s what Stoor co-founder Lucky Uwakwe says
