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

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Nigeria Total Debt Profile Reaches All Time High At N41 Trillion As Election Heats Ups.

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Report published by Debt Management Office (DMO) for first quarter of 2022, shows that the total public debt for Nigeria stood at N41.60 trillion or USD100.07 billion, from N39.56tn as of December 2021. This shows an increase of N2.04tn within…

eNaira Will Stop Naira Abuse And The Cost Of Printing New Currency.

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A director of Central Bank of Nigeria, CBN who was in Asaba, Delta State, Mr Godwin Okafor has said the introduction of the e-Naira as a means of transaction in the country would put a stop to the abuse of…

Nigeria To Resume Foreign Exchange Sales to Banks

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The Central Bank of Nigeria has resumed the sale of foreign exchange, forex, to banks in order to clear the backlog of unmet demand said to be in excess of $1.5 billion after many weeks of absence from the foreign…

NEWS

CBN Ban On Crypto Crippled Foreign Direct Investment In Nigeria, Report Shows. As CBN Governor Contest For President.

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A new research report has revealed that restrictions on cryptocurrency transactions and the ban of Twitter in Nigeria crippled foreign direct investment in the fin‑tech industry and adversely impacted millions of young Nigerians earning a living from the sector. The…

Nigeria CBDC eNaira Ranks First In PwC Global Digital Currency Index:

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The Nigeria Central Bank Digital Currency, eNaira led the retail project indexes of central banks globally in the 2022 PricewaterhouseCoopers’s (PwC) Central Bank Digital Currency (CBDC) Global Index. Titled ‘The race to digital money is on,’ the PwC index analyses and ranks…

Again, CBN Closes Accounts of Nigeria Crypto/Blockchain Company Cryset, 7 Others Over Crypto Trading.

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The Central Bank of Nigeria, on Thursday placed a no debit order on eight business accounts in a circular sent to all Nigerian Banks. The post no debit instruction order contained in the circular was placed on eight accounts for…

CBN Urge Nigerians To Be Cautious Of Fake e-naira Social Media Handles

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After the official launch of the eNaira on Monday, October 25, 2021, the notice of the Central Bank of Nigeria has been drawn towards the illicit and illegal activities of some individuals and some fraudulent Twitter handle, @enaira_cbdc processed to…