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PortuguêsNigeria’s vice president, Yemi Osinbajo, delivered a speech at an economic summit on Friday in which he spoke positively of crypto and blockchain. “There is no question that blockchain technology…
Continue ReadingSince the start of 2021, Bitcoin (BTC) price has been chasing new highs on a weekly and daily basis. On Feb. 21, BTC reached a new all-time high at $58,300.…
Continue ReadingThe governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has defended the apex bank’s decision to exclude cryptocurrency transactions from the banking ecosystem. In his testimony before the…
Continue ReadingThe massive rally in bitcoin prices has created a lot of buzz around cryptocurrencies lately, but Nigeria is one of the countries where bitcoin has been widely accepted for some…
Continue ReadingGodwin Emefiele, governor of the Central Bank of Nigeria, has defended the apex bank’s decision to ban banks from servicing cryptocurrency exchanges in the country. Appearing before a joint Senate…
Continue ReadingListen To This Episode: This episode of Bitcoin Magazine’s “Bitcoin In Asia” featured Ahyke Otutubuike, a technical writer and Bitcoin user based in Nigeria. Nigeria has been in the news…
Continue ReadingNigeria’s central bank recently made headlines enforcing cryptocurrency restrictions on how the country’s banking sector works. Specifically, CBN reminded regulated financial institutions yesterday that a 2017 regulation prohibits them from…
Continue ReadingHaving recently suspended its planned crypto regulations in the wake of the central bank ban, Nigeria’s Securities and Exchange Commission has clarified its position on cryptocurrencies in the country. According…
Continue ReadingYou have probably heard the news about the Central Bank of Nigeria (CBN) imposing a ban on financial services for cryptocurrency exchange operators, as well as the incongruent excuses for…
Continue ReadingIt’s been roughly 11 days since the Central Bank of Nigeria banned all regulated financial institutions from providing services to cryptocurrency exchanges in the country. At the risk of stiff…
Continue ReadingA body representing cryptocurrency and blockchain stakeholders in Nigeria has joined other crypto industry players in assailing the recent Central Bank of Nigeria (CBN) directive to banks. The CBN order,…
Continue ReadingThe Central Bank of Nigeria (CBN) has said that its decision to ban cryptocurrency was necessary to prevent crimes and mitigate risks Several Nigerians have condemned the move and believe…
Continue ReadingNigeria’s Securities and Exchange Commission (SEC) announced Thursday it has put plans to regulate cryptocurrencies on hold in light of the central bank’s decision to ban them, according to a…
Continue ReadingNigeria’s Senate has summoned the country’s top financial regulators for a briefing after the central bank ordered local financial institutions to stop providing services to crypto companies and users last…
Continue ReadingToday, the Senate of Nigeria —which has similar legislative powers to the U.S. Senate — shared notes from its daily proceedings. Among the presentations of bills and reports was discussion…
Continue ReadingAs previously reported by Cointelegraph, the Central Bank of Nigeria issued a circular banning banks from servicing crypto exchanges. Reacting to the news during the Thursday plenary session, Senator Sani…
Continue Reading“There’s no stopping crypto, [it’s] the future and we won’t let some old fools take our future from us,” one Nigerian bitcoin user who wished to remain anonymous told CoinDesk.…
Continue ReadingWelcome to State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. I’m your host, Nikhilesh De. Are governments worrying more about the growth of crypto?…
Continue ReadingXend Finance, a Nigeria-based decentralized finance (DeFi) platform for credit unions and cooperatives, has secured new partners and funding as it prepares for its bid to bring high-interest savings opportunities…
Continue ReadingThe Central Bank of Nigeria (CBN) issued a five-page statement Sunday clarifying its position on cryptocurrencies after a regulatory warning to local banking institutions on Friday sent shockwaves through social…
Continue ReadingBinance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to…
Continue ReadingThe Central Bank of Nigeria has placed a ban on all regulated financial institutions from providing services to crypto exchanges in the country. The prohibition was contained in a circular…
Continue ReadingThe world is watching U.S. markets with great interest, and more than a little FOMO, as Reddit investors continue to test their might against Wall Street. It all started when…
Continue ReadingBitsika Africa, a crypto startup operating out of Ghana and Nigeria, said Monday that it processed almost $40 million in remittances in 2020, up from just under $1 million the…
Continue ReadingPeer-to-peer Bitcoin (BTC) volume in Nigeria continues to rise as Africa’s largest economy remains a bastion for crypto adoption. According to Quartz Africa, data from the Bitcoin P2P marketplace Paxful…
Continue ReadingNigeria, Africa’s biggest economy and most populous nation, traded more than $566 million worth of bitcoin between 2015 and 2020, making it the world’s second-largest peer-to-peer (P2P) bitcoin market after…
Continue ReadingNigerian crypto startup Yellow Card says it processed over $165 million in volume during the first eleven months of this year. The figure represents a growth of more than 1,840%…
Continue ReadingAs global interest in stablecoins explodes, a number of key players are pushing especially hard for more adoption in Sub-Saharan Africa. On Thursday, the Center for Strategic and International Studies’…
Continue ReadingIt’s been another bumper week for Bitcoin, another reason for hodlers to feel grateful. The dollar value remains over $17,000 having reached a three-year high when it topped $19,000 for…
Continue ReadingFollowing the announcement of a disappointing closure of a Ugandan subsidiary in October, Binance — the world’s largest cryptocurrency exchange — released a blog post yesterday indicating that another initiative,…
Continue ReadingAs technological innovations continue to spread across Africa, the continent could provide some unique use cases for blockchain technology. African has been continually driving innovation in a number of spaces,…
Continue ReadingWhen the Nigerian government shut down EndSARS protestors’ bank accounts, bitcoin and crypto became a way around. Yele Bademosi is CEO at Bundle social payments app and the founder of…
Continue ReadingTelos has partnered with open-source weather technology company Telokanda Weather Group to launch an initiative to collect and share weather data in West Africa on the Telos public blockchain. Telokanda…
Continue ReadingThe director-general for Nigeria’s National Information Technology Development Agency, or NITDA, has said that the country could potentially expect a revenue stream between $6 billion to 10 billion from blockchain…
Continue ReadingA Nigeria-based startup is looking to bring decentralized finance (DeFi) to the world of credit unions. Built on the Binance Smart Chain, Xend Finance announced Monday its public launch and…
Continue ReadingThe Takeaway: Nigerians are adopting more VPNs, including decentralized VPNs. The adoption comes as #EndSARS protestors are concerned the government may limit access to parts of the internet. Mysterium, a…
Continue ReadingThis article also appeared in our Down The Rabbit Hole newsletter. If you want our news and analysis straight to your inbox, make sure you subscribe now! Since mid-October, protestors…
Continue ReadingAs protests sweep across the country, with multiple regions placed under curfew, Nigerians are using social media and bitcoin in their fight against police corruption. Nigerians called for the disbandment…
Continue ReadingSub-Saharan Africa has no doubt suffered many regulatory setbacks in adopting cryptocurrencies. With most countries in the region struggling not to buckle under economic uncertainties and pressures looming over them…
Continue ReadingAs protests surge through Nigeria in response to police brutality, one enclave of protestors has turned to bitcoin as a financial lifeline during turbulent times. The Feminist Coalition’s bank account…
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