CBN Could Have Regulated Blockchain in 2021 – Convexity CEO
At the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023 in Abuja, Adedeji Owonibi, CEO of Convexity, said the Central Bank of Nigeria should have created a blockchain regulation strategy in 2021. In the panel titled The Future of Digital Assets: Regulatory Uncertainty and the Way Forward, the panelists discussed why […]
Patricia’s Native Token Launch Sparks Controversy
Patricia, a Nigerian cryptocurrency exchange, has announced the launch of its native token, PTK, which will replace customers’ Bitcoin and Naira balances. However, the move has raised suspicions and criticism from the local crypto community. Patricia, a Nigerian cryptocurrency exchange, has unveiled its own native token, named Patricia Token (PTK), which it claims is a […]
Nigeria to Verify NYSC Certificates Using Blockchain Technology
The National Information Technology Development Agency (NITDA) Director-General has revealed that the National Youth Service Corps (NYSC) certificates in Nigeria will be generated and validated using blockchain technology. Nigeria’s National Youth Service Corps program requires university graduates under 30 to complete a year of community development initiatives and cross-cultural integration as part of national service. […]
Nigeria’s SEC Cautions Citizens Against Using Binance Exchange
The Nigerian Securities and Exchange Commission (SEC) has cautioned investors in the country against using Binance, the largest cryptocurrency exchange in the world, stating its operation is illegal. The SEC issued a warning against investing with Binance on July 28. The agency maintains that the platform lacks a license to operate in the country and […]
CBN Revamps eNaira Model, Raises Interest Rate
To increase eNaira adoption, the Central Bank of Nigeria (CBN) is redesigning it and has raised the interest rate from 18.5% to 18.75% to fight the growing inflation. The eNaira, Nigeria’s CBDC, was launched in October 2022 as a digital version of The Naira, Nigeria’s national currency. The digital currency is meant to facilitate faster, cheaper, and more […]