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Nigeria News

Nigeria is seventh most populous country, and most populous in Africa. Nigeria also has the largest economy in Africa, with more than $500 billion of nominal gross domestic product. The Word Bank considers Nigeria to be an emerging market and is widely seen as a perspective economy. Still, it ranks 152nd in the Human Development Index and has a large variety of problems regarding the lack of education, organized crime and human rights. Bitcoin is legal in Nigeria, but the Nigerian SEC, or Securities and Exchange Commission, warned citizens about cryptocurrency investments being risky and sometimes even fraudulent. However, the Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria have plans to adopt cryptocurrency technology and have several sub-committees working on implementing blockchain into governmental insurance and financial services.

Top News

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One currency to rule them all: Facebook’s Diem has global ambitions

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In the wake of the recent ban on Nigerian banks' servicing of crypto exchanges, Bitcoin's price in the country has seemingly spun out of control.

Bitcoin selling at 36% premium in Nigeria

2021-02-17T10:03:10+00:00

30062

Crypto and blockchain stakeholders in Nigeria have criticized the central bank’s decision to ban banks from servicing crypto firms.

More harm than good? Nigerian crypto users in disbelief over CBN ban

Osato Avan-Nomayo

2021-02-13T07:14:00+00:00

20219

Nigeria’s securities regulator has backed the central bank’s crypto ban by suspending its planned regulatory framework for digital assets.

Nigeria's SEC suspends planned crypto regulations amid central bank ban

Osato Avan-Nomayo

2021-02-12T10:01:33+00:00

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A cross-section of Nigerian senators have reacted to the recent Bitcoin ban enacted by the country’s central bank.

Bitcoin has made the Naira almost useless, says Nigerian Senator

Osato Avan-Nomayo

2021-02-11T14:15:55+00:00

18354

Nigeria's central bank has prohibited commercial banks from providing account services to crypto exchanges.

Central Bank of Nigeria bans banks from servicing crypto exchanges

Osato Avan-Nomayo

2021-02-05T13:55:03+00:00

39417

The Central Bank of Nigeria’s “Naira defense” policy is pushing more Nigerians toward Bitcoin and crypto adoption.

Bitcoin adoption in Nigeria soars as central bank blocks remittances in Naira

Osato Avan-Nomayo

2020-12-18T12:31:29+00:00

15974

Stablecoins and continentwide regulations are key to breaking down barriers to Africa's economic growth.

Everyone's talking crypto for solving sub-Saharan Africa's payments problems

2020-12-03T16:13:12+00:00

4285

Africa’s largest economy has become a bastion for crypto adoption.

Nigeria is establishing a framework for widescale crypto adoption

2020-11-24T22:22:15+00:00

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