Reporting on Fintech, Bitcoin, Ethereum, Blockchain and Cryptocurrency News in Nigeria

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Nigeria’s Central Bank Places $2 Million Fines On 3 Nigerian Banks Over Crypto Trading.

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The Central Bank of Nigeria has fined three Nigerian commercial banks a total of N800 million for failing to comply with regulations prohibiting banks from transacting in crypto currencies, affected banks are Stanbic IBTC Bank, Access Bank Plc, and United…

CBN To Stop Sale of Forex To Banks.

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The Central Bank of Nigeria has announced plans to end the sale of Forex to commercial banks by the end of the year. “The era is coming to an end when, because your customers need 100million dollars in foreign exchange…

There Is No Law Against Crypto In Nigeria: Court Rules. Unfreezes CBN Blocked Accounts Over Crypto Trading.

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CBN Circular is Not Law. A Federal High Court sitting in Abuja has vacated an interim order through which the Central Bank of Nigeria (CBN) froze the bank accounts in two banks of a firm that traded in cryptocurrency according…

Will Nigerian Banks Survive eNaira ?

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The much anticipated unveil­ing of digital currency by the Central Bank of  Nigeria (CBN), also known as e-naira, according to analysts, is a major step in digital banking that will benefit consumers but not good for the banks. ­In this…