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eNaira and the state of crypto in Nigeria amid a financial cr

Nigeria finally implements its blockchain policy 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Nigerian government has approved its national blockchain policy. It aims to institutionalize blockchain technology and its components in the nation. Nigeria, the most populous country in Africa, is finally ready to bring regulatory clarity to its blockchain industry and lay […]
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eNaira and the state of crypto in Nigeria amid a financial cr

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

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. Despite the government’s launch of a central bank digital currency (CBDC), the eNaira, citizens have shown little interest and have instead turned to mainstream crypto assets, despite […]
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Legislation Regulation generic 3

Nigeria to regulate stablecoins and ICOs 

Nigeria highlights its plans for regulating stablecoins, initial coin offerings (ICOs), and the possibility of creating foreign direct investment through cryptocurrencies.  The document titled “Nigeria’s payments system vision 2025” complements the country’s previous efforts to regulate the largest crypto market in Africa.  In 2021, the country’s central bank prohibited local financial institutions from facilitating all […]
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Nigeria passes amendment bill to regulate crypto

The Central Bank of Nigeria (CBN) banned the use of crypto assets with the rise of the #ENDSARS movement in the country. Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Markets and Institutions, finally, stated that the government “will soon” decide on legalizing cryptocurrencies. According to the Nigerian magazine Punch, the country’s […]
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