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
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
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
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
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
