Nigeria central bank freezes 3 accounts over digital currency trading
The Central Bank of Nigeria froze two bank accounts of individuals and one business account that it claims have been trading digital currencies against its circular.
Latest Nigeria News
After initial glitches, eNaira gains traction in Nigeria
The eNaira was launched by President Muhammad Buhari, and after a few glitches, it’s starting to gain traction as more Nigerians appreciate its benefits.
Nigeria rolls out eNaira digital currency to cultivate economic growth
Plans for the digital currency have been ongoing in the last four years and according to CBN Governor Godwin Emefiele, 500 million eNaira ($1.21 million) have already been minted.
Nigeria central bank wins court battle over ‘eNaira’ trademark infringement claims
A fintech firm went to court to sue the Central Bank of Nigeria for trademark infringement over use of eNaira, but the court has sided with the bank.
Nigeria CBDC website goes live as October launch draws near
The website for the eNaira has launched, introducing the public to the CBDC and touting its benefits, as the official October launch date draws ever closers.
Africa’s digital currency market grew by 1200% in the past year: Chainalysis
Africa has seen massive growth since June last year, with the need for cheap remittances, rise of P2P platforms, and savings needs leading the adoption, according to Chainalysis.
Kenya leads in global P2P volume for second year in a row
Kenya has ranked first in the world for P2P volume for the second year in a row and fifth for adoption – local traders and startup founders share their views.
Digital currency-related attacks among top cyber threats in Africa: Kaspersky
Kaspersky found that investors in Rwanda and Ethiopia have the highest ratio of targeted attacks at over 3%, with Nigeria and Kenya also ranking highly.
Nigeria’s SEC sets up division focused on digital currency investments
The regulator intends to use the new fintech division to assess the feasibility of digital currency investments and decide on the need for comprehensive regulations.
Nigeria’s central bank reveals CBDC guidelines and plans to launch digital wallet
The Central Bank of Nigeria plans to mint and issue the CBDC while commercial banks will be in charge of distribution, with zero fees for P2P wallet transactions.
Nigeria freezes bank accounts for forex platforms, traps millions of dollars
The Central Bank of Nigeria has moved to court to freeze the bank accounts of forex trading platforms, claiming they contribute to naira’s depreciation.
Nigeria to consider upcoming CBDC as ‘critical national infrastructure’
Nigeria began exploring and researching the CBDC, which it has dubbed the e-Naira, five years ago under Project GIANT.