Nigerian Government Enhances eNAIRA to Draw Financial Inclusion

The Central Bank of Nigeria (CBN) has announced the upgrade to its Central Bank Digital Currency (CBDC) dubbed the eNAIRA.

Nigeria upgrades CBDC as crypto restrictions cripple fintech industry

Nigeria’s central bank has upgraded its eNaira to steer the country away from crypto even after a UN report stated that restrictions on digital currencies are stifling the nation's fintech sector. The Central Bank of Nigeria (CBN) is moving ahead with plans to upgrade the country’s central bank digital currency (CBDC) to be used on a wider range of goods and services.

Study Finds 33.4 Million Nigerian Adults Hold or Have Traded Crypto in Last 6 Months

According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months.

Nigerian Central Bank Sanctions Banks For Enabling Crypto Transfers

The sanctions imposed by the Central Bank of Nigeria (CBN) are a part of its effort to clamp down on cryptocurrency transactions, and establish restrictions on trading.

Report: Four Nigerian Lenders Penalized for Failing to Block Crypto Transactions

The Nigerian central bank recently fined four financial institutions it accuses of failing to stop clients from using their respective platforms to conduct cryptocurrency transactions.

Rwanda May Not Reach Decision on CBDC Issuance Until End of 2022 — Central Bank Official

The Rwandan central bank may not know whether it can issue a digital currency until December 2022, when it completes a study that looks at the benefits and risks that come with such a currency, the bank’s deputy governor has said.

Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of Industry

The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has said crypto is legit and must be regulated.

Nigerian Crypto Firm Executive: Central Bank Prohibition Led to Growth in Crypto Awareness

The chief marketing officer (CMO) of a cryptocurrency payments solution company, Rotimi Ogunwede, has insisted that the Central Bank of Nigeria (CBN)’s decision to bar crypto entities from the banking system may be the reason why Nigerians are now more knowledgeable about cryptocurrencies.

Yellow Card Announces It’s Resuming Deposits and Withdrawals via the Naira

Yellow Card has announced the resumption of naira deposits and withdrawals in Nigeria via a statement from the cryptocurrency exchange platform.

An African Perspective on Why the World Needs Cryptocurrencies

Rising cryptocurrency use in Africa over the past few years has not only shown that digital currencies are now a vital means of moving funds across borders and between people, but that cryptocurrencies are also an important means of accessing global markets for the financially excluded.

Nigerian Government Minister Calls for Regulation of Crypto, Considers Additional Body ‘to Play That Role’

A minister in the Nigerian government has called on authorities in the country to consider regulating cryptocurrencies instead of clamping down on them.

Nigerian Experts: CBDC Still Unattractive to Users Despite Claim of ‘Excellent’ Adoption Rate

Nigerian blockchain and cryptocurrency experts have suggested that many prospective users will only consider adopting the e-naira once the central bank has done enough to make the CBDC (central bank digital currency) an attractive option to use.

Zimbabwe Central Bank Chief: ‘We Don’t Believe in Cryptocurrencies’

The Reserve Bank of Zimbabwe remains opposed to cryptocurrencies but is interested in developing its own digital currency, its governor has said.

Nigerian Central Bank Wants Financial Institutions to Develop Products Based on Its CBDC

The Central Bank of Nigeria has said it wants players in the country’s payment industry to develop and help introduce products based on its central bank digital currency, the e-naira.

Nigerian Crypto and Blockchain Advocacy Group: Freezing or Closure of Bank Accounts Not Supported by Law

The Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency.

Central Bank’s Targeting of P2P Crypto Transactions Forces Startup to Quit Nigeria

The Nigerian startup behind the social payment app for cryptocurrency and fiat, Kurepay, says the Central Bank of Nigeria (CBN)’s current crackdown on crypto entities has forced it to suspend operations in Nigeria.

Kenya Central Bank Governor on CBDC: It’s About Getting It Right Rather Than Being First

The Central Bank of Kenya (CBK) governor, Patrick Njoroge, has said his institution is currently exploring the use of central bank digital currencies (CBDC) to settle cross-border payments.

Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High

Nigeria is once again Sub Sahara Africa’s biggest recipient of remittances into the region where the money transfers went up by 6.2 percent to $45 billion, a new World Bank report has shown.

IMF Says Nigerian CBDC Drawing Global Interest, Warns of Associated Risks

The International Monetary Fund (IMF) has acknowledged that the recently launched Nigerian central bank digital currency (CBDC) is attracting interest from many institutions globally, including central banks.

Nigeria Central Bank Governor: Cryptocurrency Is a Product ‘Embedded in High Level of Illegality’

The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has claimed that a majority of cryptocurrency transactions are embedded in illegality.

Analysts: Lack of Trust in Nigerian Government an Impediment to CBDC’s Success Prospects

While Nigerians have seemingly embraced the Central Bank of Nigeria (CBN)’s digital currency, skeptical analysts believe a lack of trust in the government will ultimately limit the e-naira’s prospects for success.

Nigerian Central Bank Intensifying Fight Against Cryptocurrency Traders

Just a few days after launching the e-naira digital currency, the Central Bank of Nigeria (CBN) is now reportedly ramping up the pressure against cryptocurrency traders.

Nigeria's Central Bank Freezes Bank Accounts Linked to Suspected Illegal Crypto Traders

The central bank of Nigeria has ordered a directive to freeze the bank accounts associated with two individuals and a firm suspected of illegally engaging in crypto trading.

Nigeria's central bank reportedly freezes crypto traders' accounts

In February, the CBN banned banks from servicing crypto exchanges in the country, citing concerns including volatility, money laundering, and the financing of terrorism. The Central Bank of Nigeria has reportedly ordered all commercial banks in the country to freeze accounts with at least two individuals engaged in crypto trading.According to a Nov.

Nigerian Experts Insist Africa’s First CBDC Is Presently Not for the Unbanked

While the Central Bank of Nigeria (CBN) continues to tout the e-naira’s credentials as a tool for fostering financial inclusion, some experts agree that this central bank digital currency (CBDC) is presently not doing this.

CBDC Could Increase Nigeria’s GDP by $29 Billion in 10 Years: President Buhari

The Nigerian president, Muhammadu Buhari, suggested in a recent speech that the new e-naira central bank digital currency (CBDC) could lead to an increase in the value of his country’s GDP by $29 billion in ten years.

Nigerian Judge Rules in Favor of Accused Crypto Startup, Accounts to Be Reopened

A Nigerian Federal Court judge recently ruled that the two frozen bank accounts belonging to Rise Vest Technologies, which is accused of trading cryptocurrencies, must be reopened.

Nigerian president to unveil eNaira central bank digital currency

The Nigerian central bank digital currency was originally slated for launch earlier this month, but it has been delayed. Nigerian President Muhammadu Buhari is set to officially introduce the country’s central bank digital currency (CBDC), the eNaira.The Central Bank of Nigeria (CBN) has published a document in which it reaffirmed its intention to introduce the eNaira after previously attempting but failing to do so on Oct.

Nigerian President Muhammadu Buhari to Unveil Country’s CBDC

The Nigerian President, Muhammadu Buhari, is expected to formally launch the country’s central bank digital currency (CBDC) on October 25, 2021.

Nigeria to Launch Its ENaira Digital Currency on Monday: Report

The Central Bank of Nigeria (CBN) will launch its digital currency, the eNaira, on Monday, Bloomberg reported.The eNaira, which is intended to complement the physical Naira rather than replace it, will “make financial transactions easier and seamless for every strata of the society,” the CBN said in emailed statement on Saturday, according to the report.The launch had originally been set for Oct.