Nigeria tries to enforce cashless society with CBDC eNaira amidst financial disaster

Nigeria tries to enforce cashless society with CBDC eNaira amidst financial disaster
фото показано с : Cripyo.news

2023-2-24 17:23

Nigeria, Africa’s most populous nation and largest economy, is currently facing a financial crisis that has underscored the importance of cryptocurrencies for its population of over 219 million. origin »

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nigeria financial underscored crisis currently facing importance

Источник: Cripyo.news

nigeria financial → Результатов: 43


eNaira CBDC ‘a massive failure’ despite Nigerian central bank’s claims to the contrary

Geopolitical Analyst Nick Giambruno called Nigeria’s eNaira project a “massive failure” while saying the outcome has not been “what the elites hoped for.” The eNaira launched on October 25, 2021, with President Muhammadu Buhari saying Africa’s first Central Bank Digital Currency (CBDC) would “increase remittances, foster cross-border trade, improve financial inclusion and enable the government […] The post eNaira CBDC ‘a massive failure’ despite Nigerian central bank’s claims to the contrary appeared first on CryptoSlate.

2022-11-3 18:36


Nigeria’s eNaira stablecoin becomes focus of new IMF report

Nigeria’s central bank digital currency project, eNaira, is drawing attention and interest of leading financial institutions and it also gaining traction amongst other country’s central banks looking to initiate a similar project according to a report released by the International Monetary Fund (IMF) eNaira to boost remittance The report, authored by economist Jack Ree, explained […] The post Nigeria’s eNaira stablecoin becomes focus of new IMF report appeared first on CryptoSlate.

2021-11-22 11:00


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Central Bank of Nigeria Denies It Has Placed New Restrictions on Cryptocurrencies — Uses Debunked Claims to Justify New Directive

Following the outcry over the Central Bank of Nigeria’s latest directive that targets cryptocurrencies, the institution has reaffirmed its stance with another statement. In the latest five-page document, the CBN insists that this directive is intended to protect the country’s financial system from the “risks” that are associated with cryptocurrencies. Debunked Claims Still, the central […]

2021-2-10 12:05


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Central Bank of Nigeria Orders Banks to Close Accounts of Crypto Clients as Remittances via Traditional Corridors Drop by 97%

The Central Bank of Nigeria (CBN) has circulated a letter directing banks and financial institutions to identify and close accounts of cryptocurrency transacting entities. The directive, which took immediate effect, threatens “severe regulatory sanctions” to financial institutions that fail to comply.

2021-2-6 19:05


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Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted List

Nigeria’s Economic and Financial Crimes Commission (EFCC) is seeking the public’s help in locating Omotade Sparks Amos Sewanu, the mastermind behind the Inksnation crypto scam. According to a notice published in the local media on November 11, the EFCC wants Sewanu to respond to fraud charges relating to Inksnation’s purported crypto token- Pinkoin.

2020-11-17 23:45


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Nigerians Can Now Buy Bitcoin With Cash From Stores and ATMs That Take Naira

If there’s a place where cryptocurrencies draw significantly more attention than anywhere else right now, it has to be Nigeria. Africa’s largest economy is driven by its oil exports, expanding manufacturing, financial services, communications and information technology sectors, but also by a tech-savvy generation that asks Google about Bitcoin more than its peers in other […] The post Nigerians Can Now Buy Bitcoin With Cash From Stores and ATMs That Take Naira appeared first on Bitcoin News.

2020-3-8 11:05


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Man With a Mission: Jack Dorsey Wants to Bring Bitcoin Adoption to Africa

For the last month, Twitter and Square CEO, Jack Dorsey, has been going around Africa to understand the state of the region, most likely from a financial services and payment perspective. According to Forbes, Dorsey met Bitcoin business owners at a meetup in Nigeria and subsequently tweeted that Africa will define the Bitcoin future, DecemberRead MoreRead More.

2019-12-3 16:00


Fintech Startup OPay Backed by Opera Gets $120M Investment to Expand Its Africa Operations

OPay, headquartered in Lagos, Nigeria has raised $120M from a horde of high-profile Chinese venture capitalists as part of its series B round of financing. OPay was launched in 2018 by Opera, the web browser primarily focuses on creating digital compensation solutions that can be used to enhance financial inclusion. According to what the company’s […]

2019-11-18 19:16


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Nigeria: Speaker of the House of Reps Believes in Cryptocurrency and Blockchain

Nigeria’s Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, has said that the proliferation of bitcoin (BTC), altcoins and distributed ledger technology (DLT) into the global financial ecosystem has made it quite critical for the most populous nation in Africa to formulate amenable regulations for its cryptospace in order not to be leftRead MoreRead More.

2019-7-24 17:00


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Nigerian Startups Call for Cryptocurrency Regulation to Stem Investment Outflows

Nigeria’s financial technology startups have called on the Central Bank of Nigeria (CBN) to provide legal guidelines for the cryptocurrency and blockchain industry. A lack of regulation is driving investment out of Africa’s biggest economy to areas like Rwanda and Europe while fomenting uncertainty, according to the Electronic Payment Practitioners Association of Nigeria (E-ppan).

2018-11-10 02:15


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Nigerian Startup Kubitx Launches Bitcoin Exchange in Beta

Kubitx, a Pan-African financial technology startup registered in Malta, announced the beta launch of its new cryptocurrency exchange on Thursday. The platform, which supports seven digital coins for the test, including BCH and BTC, will initially be available to users in Nigeria, before the company expands it to other African countries in the coming months.

2018-10-12 00:30


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Nigerian government issues fresh warning against CBEX Crypto exchange 

The Nigerian Securities and Exchange Commission has issued a renewed warning against Crypto Bridge Exchange. The exchange, also known as ST Technologies International Ltd, Smart Treasure, or Super Technology, has reportedly resumed operations across the country despite lacking regulatory approval.…

Nigeria moves to tax crypto transactions: report

Nigeria is preparing to tax cryptocurrency transactions as part of broader efforts to boost government revenue, according to the country’s Securities and Exchange Commission. A bill outlining the tax framework is under review and is expected to pass this quarter,…