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Nigerian stakeholders demand Binance reveal identity of bribery official

[May 8 6:13 AM] SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing.

Nigerian fintechs crack down on crypto, users face account blocks

[May 3 2:43 AM] The Nigerian central bank’s attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening.

Binance Nigeria Moved $26B Worth of Untraceable Funds in 2023, Central Bank Chief Says: Reports

[Feb 28 7:56 AM] The country's facing a crippling foreign exchange crisis and looking for ways to limit capital outflows, including via crypto.

Nigeria’s Central Bank Fleshes Out New Rule Allowing Crypto Firms’ Access to Bank Accounts

[Jan 4 5:19 AM] Nigerian banks are still restricted from holding or trading crypto on their own behalf, despite regulators’ softening stance toward digital assets.

Nigeria Lifting Ban on Bank Accounts for Crypto Firms Could Lead to Usage 'Surge'

[Dec 27, 2023 8:58 AM] Pan-African exchange Yellow Card has said it will seek licensing in the country.

Nigerian Central Bank Says Amended CBDC Model to Ensure Increased Volumes and Wallet Activity

[Jul 27, 2023 4:00 AM] The Nigerian central bank has said it is amending the model of its central bank digital currency and is hopeful that such an exercise will result in “an increase in the volume and activity of wallet holders.” According to the acting…

Nigerian Currency Plunges to All-Time Low Versus Dollar, Central Bank Revokes Licenses of 2,700 Currency Exchanges

[Jul 21, 2023 9:30 PM] The exchange rate of the Nigerian currency versus the greenback recently plunged to an all-time low of NGN860:USD1. The naira’s depreciation has been attributed to shortages of foreign exchange on the official market and the rising demand for…

Nigeria-China Currency Swap: Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS

[May 9, 2023 11:30 PM] Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the…

Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience

[Feb 24, 2023 6:30 AM] More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which…

Bitcoin premium hits 60% in Nigeria as it limits ATM cash withdrawals

[Jan 29, 2023 10:33 PM] The price of one Bitcoin (BTC) in Nigeria can cost upwards of $38,000.

Report: Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency

[Dec 29, 2022 11:30 PM] During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage the local currency, over 90% of this total was reportedly used…

Nigeria set to pass bill recognizing Bitcoin and cryptocurrencies

[Dec 18, 2022 11:45 PM] The slated law comes as Nigeria's eNaira has only managed to obtain a 0.5% adoption rate 12 months after its launch in Oct. 2021.

Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low

[Nov 10, 2022 4:30 AM] Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An economist has suggested that the Central Bank of…