Survey shows 50% of Africans invest in crypto to fund their children’s education
According to a recent survey, the majority of cryptocurrency investors in Kenya, Nigeria, and South Africa joined the market with long-term aims in mind, such as ensuring the financial security of their families. Luno, a London-based firm, undertook a study of over 7,000 people from Nigeria, Kenya, South Africa, the United Kingdom, Australia , Indonesia, […]
Nigeria’s securities regulator set up a fintech team to research cryptocurrency
Due to official limitations, much of Nigeria’s crypto industry is underground or peer-to-peer, and the country’s securities regulator is looking into measures to make investors safer. Financial institutions operating in Nigeria have been the focal point of a government crackdown on cryptocurrencies in 2021, beginning with February’s infamous central bank ban on lenders supplying services […]
Central Bank of Nigeria releases draft rules for the eNaira CBDC programme
The planned central bank digital currency, according to the CBN, will have parity of value and will operate as a non-interest-bearing CBDC (Central Bank Digital Currency). The Central Bank of Nigeria (CBN) has announced preliminary instructions for its proposed eNaira digital currency, which is expected to be launched later this year. The Central Bank of […]
Crypto adoption rises in Nigeria despite the government crackdown
Despite the government crackdown, cryptocurrency adoption in Nigeria continues to grow, with peer-to-peer (P2P) trade volume for Bitcoin posting its second-highest week on record last month. Nigeria continues to rank first in terms of search interest for the keyword “Bitcoin” according to Google Trends as of this writing. According to Useful Tulips, P2P Bitcoin trading […]
Nigeria to begin pilot trials of its CBDC in October
The Central Bank of Nigeria will start the pilot of its central bank digital currency (CBDC) on October 1, this is also her independence day. The Central Bank of Nigeria (CBN) has been in the news for its anti-cryptocurrency actions throughout much of 2021. Nonetheless, the institution has increased its investment and research into cryptocurrency’s […]