central bank of nigeria

Nigeria’s Central Bank Digital Currency Pilot to Start Oct. 1

Rakiya Mohammed, the bank's information technology director, revealed the date during a private webinar on Thursday.

News  ·  23 July 2021

Thriving Under Pressure: Why Crypto Is Booming in Nigeria Despite the Banking Ban

Crypto communities world-wide have found ways around government bans, and Nigeria is no exception.

News  ·  6 July 2021
CBDCs

Nigeria’s Central Bank May Launch a Digital Currency Pilot in 2021

A central bank official said Nigeria has been researching CBDCs for two years.

News  ·  10 June 2021
Regulation

Nigeria’s Central Bank: We Didn’t Ban Crypto Trading

Deputy Governor Adamu Lamtek said the CBN is not discouraging people from trading in cryptocurrency.

News  ·  22 March 2021
CoinFlash

Nigeria Is Now Rewarding Citizens for Using Licensed Money Senders, Not Crypto

The "Naira 4 Dollar Scheme" is a bid to funnel remittances through official channels. Meanwhile, peer-to-peer bitcoin remains popular.

Policy & regulation  ·  10 March 2021
Nigeria

Blockchain Sleuthing Firm Calls Nigeria ‘Focal Point’ for Africa’s Crypto Scams

These scams are raking in tens of thousands of dollars in crypto a month, blockchain analytics firm Whitestream determined.

People  ·  3 March 2021
Nigeria

Bitcoin Is Trading at a 46% Premium on Luno Nigeria After Central Bank Ban

The premium rose after the Central Bank of Nigeria reminded banks they could not provide crypto exchanges with financial services.

News  ·  26 February 2021
CoinFlash

Nigeria’s SEC Puts Plans to Regulate Crypto on Hold in Light of Central Bank Ban

The Nigerian cryptocurrency community has been turning to peer-to-peer exchange platforms to continue trading.

News  ·  12 February 2021
Regulation

Nigeria’s Senate Summons Central Bank Chief to Explain Crypto Ban

The Nigerian Senate wants Central Bank Governor Godwin Emefiele and chief securities regulator Lamido Yuguda to testify about cryptocurrencies.

News  ·  11 February 2021
Cryptocurrency

Bitcoin ‘Can’t Be Stopped’: Nigerians Look to P2P Exchanges After Crypto Ban

Some Nigerians plan to continue using bitcoin (BTC) and other cryptocurrencies despite a directive issued by the Central Bank of Nigeria (CBN) last week ordering banks to close down accounts associated with cryptocurrencies.

Policy & regulation  ·  9 February 2021
Newsletters

State of Crypto: India and Nigeria’s Crypto Crackdowns Continue Old Trends

Both nations hope to prevent banks from providing services to crypto companies.

Policy & regulation  ·  9 February 2021
China

Nigerian Central Bank Says Its Ban on Crypto Accounts Is Nothing New

The Central Bank of Nigeria said its warning to banks on Friday was not a new position, but a reiteration of its 2017 stance on cryptocurrencies.

News  ·  7 February 2021
Regulation

Binance Suspends Deposits in Nigeria Following Central Bank Directive

Nigeria's central bank told financial institutions they couldn't provide crypto companies or users with services on Friday.

News  ·  5 February 2021