Kenya Crypto Ecosystem Expects Favourable Policies From The New President Elect.
The newly elected Kenya’s President William Ruto is belived to be in sync with the dreams of the crypto community in Kenya and is expected to bring policies that will hasten crypto adoption in the country and boost Fintech Start-up…
More Money For Nigerian Bank Customers ? CBN Increases Interest Rate On Savings Account Deposits.
The Central Bank of Nigeria (CBN), earlier in the week has directed banks to increase the minimum interest rate payable on savings deposits from 10 percent to 30 percent of the monetary policy rate (MPR). This means that, bank customers operating local…
Nigeria External Reserve Falls Again , Loses $337 Million in 2 Weeks. Further Naira Depreciation Likely.
Nigeria’s external reserves fell again by $337 million in the first two weeks of August, continuing its declining trend since the middle of last month. Data from the Central Bank of Nigeria showed that the external reserves fell to $38.882…
Nigeria Inflation Reaches 17 Year High, Nears 20% As Crypto Traders Go For Stablecoin USDT, BUSD.
The National Bureau of Statistics has said Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July, the highest since 2005, in the same vein crypto traders in Nigeria are saving in stablecoins to forestall…
Ghana Inflation Rises Further To 31.7 % All Time Record…, as Cedi Falls 30% Against Dollar.
Ghana’s inflation rate rose higher in the month of July 2022 from 29.8% recorded in June to 31.7% in July , the nation’s currency Cedi falls 30% against dollar since the inflation hike, becoming second worst performing currency in the…
Nigerians Has Traded Near N500 Billion In Bitcoin Despite CBN Ban
Nigerians traded N497.35bn ($1.16bn) worth of Bitcoin from the beginning of 2021 to June 2022, indicating an increasing prominence of the digital currency in the nation. This is despite the Central Bank of Nigeria’s restriction on cryptocurrencies in the nation….
Central African Republic President Describes Launch Of Crypto, Sango Coin As an Important Milestone.
Faustin-Archange Touadéra, president of Central African Republic’s (CAR) over the week noted that the launch of the sango coin, as well as the call for the issuance of a common digital currency by a regional central bank, are two critical milestones for his country…
“Set Naira Free” Expert Tells CBN, Says Naira Is Overvalued By 200%.
The Managing Director of Financial Derivatives Company Limited (FDC), Bismarck Rewane in an interview earlier in the week said that the Naira was over-valued by 200 percent. Rewane, who stated this in a programme on Arise TV, said the black…
Nigerian Banks Allegedly Engage In Fraudulent Transactions And Unauthorized Personal Data Usage.
A new investigative report has alleged that financial institutions are unabashedly engaging in fraudulent financial activities without sanctions from the regulatory bodies. The report accused Nigerian banks for opening an account using a customer’s identity without their knowledge and authorisation,…
Nigeria on Economic Collapse; External Reserve Down to $15b, Experts Predict Sri Lanka Situation
Nigeria Nears Economic Collapse; External Reserve Down to $15b Contrary to CBN’s $36b Claim With Nigeria spending N5.9 trillion on imports in the first quarter, irrespective of the preferred exchange rate, reserves of $15 billion would barely cover four months…