Nearly 18 months after launching its in-house central bank digital currency (CBDC), the eNaira, Nigeria is seeing increased adoption in the CBDC as national fiat reverses face severe shortages. The acute cash shortage in Nigeria was due to the central ...
CryptoUpdateClub Latest Articles
News & Views Podcast | Episode 102: Australian Fintech Ecosystem, Nigeria Currency Crisis & LEAP Saudi Arabia
admin
News & Views by The Fintech Times ep.102:Australian Fintech Ecosystem, Nigeria Currency Crisis & LEAP Saudi Arabia In this week’s episode, Tyler shares his experience attending LEAP in Saudi Arabia and the insights he learned. Polly and Francis bring stories ...
Nigeria Extends Deadline for Returning Soon-to-Be Demonetized Naira Banknotes – Africa Bitcoin News
admin
After initially ignoring pleas to extend the period for returning old naira banknotes, the Nigerian central bank recently said it has shifted the deadline for returning old banknotes to Feb. 10. The bank’s governor, Godwin Emefiele, said some 30,000 so-called ...
Bitcoin premium hits 60% in Nigeria as it limits ATM cash withdrawals
admin
The price of Bitcoin (BTC) in Nigeria has skyrocketed to well above market levels amid continued efforts by the central bank to push its citizens into digitalized cash. At the time of writing, the price of 1 BTC on Nigerian ...
Nigeria Debt Management Office’s $48.8 Billion Debt Contravenes the Law Says Expert – Economics Bitcoin News
admin
The Nigerian Debt Management Office (DMO) contravened the law when its borrowings exceeded the set limit which is equivalent to $2.2 billion, Adetilewa Adebajo, an international financial markets expert has reportedly said. Adebajo also suggested that the Central Bank of ...
Nigeria revisits its payments landscape amid sluggish eNaira adoption
admin
Nigeria’s central bank will explore the adoption of blockchain technology to power a central bank digital currency (CBDC), the potential of stablecoin adoption and regulatory considerations of initial coin offerings (ICOs) over the next two years. These are the key ...
Nigeria to Stop Cash Withdrawals From Government Accounts – Economics Bitcoin News
admin
From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials that want to be exempted from this new regulation will ...
Nigeria set to pass bill recognizing Bitcoin and cryptocurrencies
admin
The Nigerian government will reportedly soon pass a law that will recognize the usage of Bitcoin (BTC) and other cryptocurrencies as a means to keep up to date with “global practices.” The news was reported by Nigerian-based masthead Punch Newspapers ...
Nigeria Announces New Cash Withdrawal Restrictions — ATMs Limited to Less Than $44 per Day – Bitcoin News
admin
In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. ...
Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
admin
Nigeria has drastically reduced the amount of cash individuals and businesses can withdraw as it attempts to push its “cash-less Nigeria” policy and increase the use of the eNaira — Nigeria’s Central Bank Digital Currency (CBDC). The Central Bank of ...