Investors and the Nigerian economy stand to benefit from the new stablecoin, the cNGN, which is being developed and managed by a consortium of Nigerian institutions. Anonymous insiders within the project have confirmed that the cNGN token is linked to and supported by the Nigerian naira, the official currency of
Constraints on Nigerian banks aiding cryptocurrency transactions have been removed by the Central Bank of Nigeria (CBN), almost two years after a complete ban on banks working with digital currencies was enforced. Moreover, the CBN acknowledged in a circular addressed to banks on December 22 that the rising worldwide demand
The second edition of the Borderless 2.0 conference, which took place on November 4th, 2023, in the vibrant city of Port Harcourt captured the attention of tech enthusiasts. The event brought together industry leaders, founders, and tech enthusiasts, both locally and from beyond borders. Borderless 2.0 emerged as an intellectual
Bundle, a social payments app popular in Nigeria, has announced it would be discontinuing its cryptocurrency exchange service. As part of the shareholders’ decision to reorganize the firm to concentrate on Cashlink, Bundle announced on its blog on July 20 that it will halt operations of its exchange services. The
On June 14, the official exchange rate of the Nigerian naira against the U.S. dollar hit an all-time low of NGN634 per greenback. The devaluation of the naira by more than 30 percent occurred days after the Central Bank of Nigeria (CBN) disputed that it had lowered the exchange rate
The Finance Act, 2023 was signed into law by outgoing Nigerian President Muhammadu Buhari on his last day in office, May 28. The legislation enacts a number of tax changes designed to bring the country’s tax system into the contemporary era. Gains from the sale of digital assets, such as
Patricia, a Nigerian platform for buying and selling cryptocurrencies and gift cards, has had a security compromise, forcing swift action to protect its consumers. The platform has temporarily disabled withdrawals as a security measure. The organization disclosed a security vulnerability that resulted in the loss of Bitcoin and Nigerian naira.
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
According to reports from South African media outlets, the Nigerian cryptocurrency exchange Roqqu has been given a regulatory license to operate in the nation, enabling users to buy and sell cryptocurrencies using the local fiat currency, the South African rand. Roqqu’s focus on South Africa is indicative of the importance
