Nigerian Court Ruling on Binance Executive Bail Set for October 9

A legal case involving cryptocurrency giant Binance has taken center stage in Nigerian courts, with global implications for both the digital currency landscape and international relations. The outcome of this case may not only affect Binance’s operations but also highlight…

Nigeria SEC Plans to Approve Crypto Platforms as Use Grows

Nigeria is on the cusp of a financial revolution, driven by the rapid adoption of virtual assets such as cryptocurrencies. With the increasing interest in digital finance across the country, Nigeria’s top financial regulators are taking significant steps to harness…

Impact of Central Bank Policies on Cryptocurrency Trading in Nigeria Through 2024

In the evolving landscape of global finance, peer-to-peer (P2P) cryptocurrency trading has carved a significant niche, especially in regions where traditional banking constraints and economic challenges prevail. Nigeria, Africa’s largest economy, has witnessed a substantial growth in P2P crypto trading,…

All the Details Between Binance and the Angry Nigerian Government

One of the major developing stories in the crypto industry is Binance and the Nigerian government. So, two Binance employees received detention upon entering the country’s capital. Apparently, the issue was that Binance was operating illegally in the country. Furthermore,…

Impact of Nigerian SEC’s Crypto License Requirements on Local Exchanges

The Nigerian Securities Exchange Commission (SEC) has introduced new crypto license requirements that are poised to have a significant impact on the operational landscape of local cryptocurrency exchanges. Despite the Central Bank of Nigeria (CBN) lifting restrictions on Nigerian banks…

Bitcoin Demand Explodes In Nigeria as Old Fiat Notes Face Invalidation

The Nigerian government’s recent decision to invalidate certain fiat notes has led to an increase in the demand for Bitcoin (BTC) in the country. The deadline set for submitting the old 500 and 1,000 naira notes has caused citizens to…

Nigeria’s Central Bank Reevaluates eNaira Amid Low Adoption Rates

In the next 24 months, the Central Bank of Nigeria will explore the possibilities of stablecoins, investigate the use of blockchain technology for a Central Bank Digital Currency (CBDC) and examine regulatory requirements for Initial Coin Offerings (ICOs). Exploring Stablecoins…

Nigerians Love Crypto But Not their Country’s CBDC

Nigeria’s central bank digital currency (CBDC) is not being well received by the country’s knowledgeable crypto community. Only 0.5% Use the eNaira A year after its introduction, the government-issued digital currency, the eNaira, is only being used by less than…

Central Bank of Nigeria Slaps Ban on Crypto Exchange Bank Services

The Central Bank of Nigeria is the latest major financial institution to place a ban on crypto exchanges and services. The prohibition was contained in a circular issued by the CBN on Friday. According to the Central Bank’s office, the…

Nigerian Music Star Davido Tweets About Possibly Starting Bitcoin Company

Popular Nigerian Afro beat and Hip Hop Artist, Davido caused a social media buzz after he tweeted about Bitcoin to his 8.8 million followers. Davido Deal with Bitsika The short tweet made the Nigerian one of the latest African stars…