Binance Aims for Regulatory Compliance in Nigeria
Amid concerns about currency manipulation, Binance takes proactive measures to ensure regulatory compliance in Nigeria. In response to the increasing scrutiny of cryptocurrency activities in Nigeria, Binance, a prominent digital asset platform, has taken steps to ensure regulatory compliance. However, in the context of the Nigerian government’s deliberations on potential strategies to combat currency manipulation and […]
Nigeria’s Central Bank Approves cNGN Stablecoin Launch
The Central Bank of Nigeria (CBN) has granted the Africa Stablecoin Consortium (ASC) permission to test its cNGN stablecoin in the regulatory sandbox. The launch is slated for February 27, 2024. The CBN, the Nigerian Securities and Exchange Commission , and the Nigerian Financial Intelligence Unit have set regulatory standards and requirements, and the cNGN […]
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 […]
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 […]
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 […]