IMF Advises Nigeria to License International Crypto Exchanges
As part of its economic reformation initiatives, the International Monetary Fund (IMF) recommends that Nigeria grant licenses to international cryptocurrency exchanges. According to a recent IMF report, aiming to solidify Nigeria’s position in the African cryptocurrency market is the objective of the country’s effort to integrate cryptocurrencies into its financial system. It is suggested that […]
Nigeria Sets to Ban P2P Crypto Trading in Naira
To implement new regulations, the Nigerian government intends to prohibit peer-to-peer (P2P) cryptocurrency exchanges that utilize the Nigerian naira (NGN), the national currency. Bloomberg reported on May 7 that “in the coming days,” Nigeria’s Securities and Exchange Commission (SEC) will unveil a new regulatory framework for cryptocurrency exchanges, custodians, and other industry firms. Agama, director […]
Nigeria Labels Crypto a National Security Concern, Signals P2P Ban
Three Nigerian fintech startups to block and report crypto transactions due to national security concerns, hinting at an impending ban on peer-to-peer trading As a result of the National Security Adviser (NSA) of Nigeria designating cryptocurrency trading as a matter of national security, a minimum of three Nigerian fintech startups—Moniepoint, Paga, and Palmpay—have resolved to […]
CBN Addresses P2P Trader Account Ban Rumors
The Central Bank of Nigeria addresses rumors about banning P2P trading accounts and discusses regulation, while Binance faces more scrutiny and legal issues. Following recent rumors that circulated regarding a purported directive to identify and restrict transactions with cryptocurrency exchanges, the Central Bank of Nigeria (CBN) promptly responded. In opposition to these allegations, the CBN affirmed […]
Flincap CMO is Optimistic About Nigeria’s Crypto Situation
The chief marketing officer of the Flincap cryptocurrency exchange is optimistic despite the Nigerian cryptocurrency sector being at risk due to recent governmental raids. Oladotun Wilfred Akangbe voiced apprehensions in an interview with Cointelegraph regarding the repercussions of these events on Nigeria’s standing in the global cryptocurrency market. Nevertheless, he observed that Nigeria has previously […]