Blockchain + Nigeria: Exploring the Blue Ocean of Digital Economy with CoinEx in CLAP23
Africa, a continent known for its diversity, boasts a profound history and colorful culture, but it faces many challenges in economic development. Fortunately, the rapid advancement of blockchain technology has put forward feasible solutions to deep-rooted and complex problems frustrating…
Dollar USD Deposits In Nigerian Banks Takes 40% of The Total Deposits; IMF.
Deposits in Nigeria banks make up 40% United States (U.S.) dollars, the International Monetary Fund (IMF) has said. The IMF described the practice as a confirmation of loss of confidence in the local currency, adding that “it is usually difficult…
Nigeria Proposes Plans To Regulate Crypto and Other Digital Assets Platforms.
Nigeria, is preparing new industry regulations for digital asset platforms. The Nigerian Securities and Exchange Commission (SEC) is considering new regulations that would allow licensed digital exchanges to list tokens backed by certain assets. Abdulkadir Abbas, the head of securities…
Nigerian Government Approves National Blockchain Policy.
The Federal Executive Council approved the National Blockchain Policy for Nigeria during its meeting today, the 3rd of May, 2023. This followed the presentation of a memo by the Honourable Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim…
Visa Announces Global Competition For Fintechs In Nigeria.
Applications are now open in Nigeria for the 2023 edition of the Visa Everywhere Initiative (VEI), a global open innovation competition that sees startups pitch their innovative solutions to solve tomorrow’s payment and commerce challenges. “The Visa Everywhere Initiative is…
Nigeria SEC Considers Accepting Tokenized Equity, Properties, But Not Crypto.
Nigeria’s Securities and Exchange Commission is planning to allow tokenized coin offerings backed by equity, debt or property but “not crypto,” on licensed digital asset exchanges. “We always like to start, as a regulator, with a very simple clear proposal…
Nigeria SEC Opens Portal For Fintechs Interested In Listing In Nigerian Capital Market.
Nigeria Securities and Exchange Commission ( SEC) on Friday announced that it has opened the Regulatory Incubation portal for fintechs to submit applications from Cohort 001/23, from 28/04/2023 to 26/05/2023. According to SEC, the application is open to Registered Capital…
Nigeria Has The Highest Crypto Ownership In 2022
Latest research has revealed that Nigeria topped the countries with the highest rate of cryptocurrency use and ownership in 2022. Nigeria, Africa’s largest economy, clinched the top spot, with almost half the population having used or owned cryptocurrency. The study,…
Nigerian Crypto Traders Using Flutterwave For P2P Face Account Freezing.
Nigerian crypto traders using peer-to-peer (P2P) services are facing difficulties as the Central Bank of Nigeria (CBN) has flagged their bank accounts. The CBN’s decision is believed to be in relation to the recent Flutterwave hack, which saw almost $6.5…
Nigeria Launches Tech Funds Totalling $618 Million For Youth Investors.
Nigeria’s Vice President Yemi Osinbajo launched the $618 million fund under the Investment in Digital and Creative Enterprises (iDICE) in the federal capital Abuja, on Tuesday to support tech and creative sectors for young investors who struggle to raise capital…