Nigeria’s Central Bank Lifts Crypto Ban, Issues New Bank Guidelines
The Central Bank of Nigeria has lifted its ban on crypto transactions and issued new guidelines for banks to manage their relationship with crypto service providers. The move follows the global trend of crypto regulation and compliance. The apex bank has changed its position on crypto assets in the country and instructed banks to disregard […]
Paystack Cuts 33 Jobs to Focus on African Markets
Paystack, a Nigerian fintech startup and a subsidiary of Stripe Inc, has announced a workforce reduction of 33 employees in Europe and the UAE. The move is part of the company’s strategy to concentrate more on its African operations, where it sees more growth potential. Paystack, founded in 2015, is a leading payment service provider […]
Nigeria, Raspberry Pi Foundation to Launch Code Clubs for Digital Literacy
Nigeria’s communication ministry, in partnership with the Raspberry Pi Foundation, a computing education charity based in the United Kingdom, will establish Code Clubs to introduce young participants to coding and digital technology. Together with the Raspberry Pi Foundation, a computing education charity based in the United Kingdom, the federal government of Nigeria , via the […]
Patricia Offers Shares to Customers as Debt Settlement
Patricia, a Nigerian crypto exchange, has announced that customers can convert their owed funds into Patricia shares as part of its debt restructuring plan. The move comes after a security breach that affected its Bitcoin and naira assets. Some customers have expressed dissatisfaction with the option and the delay in withdrawals. Following the launch of […]
eNaira Poses no Threat to Financial Stability – CBN
The Central Bank of Nigeria (CBN) had publicly asserted that the eNaira, central bank digital currencies (CBDC) initiative, does not threaten the nation’s financial stability. The CBN issued a press release on October 9 in response to “news articles on some media platforms” suggesting the eNaira threatens Nigeria’s financial stability. Some news articles, such as […]