eNaira faces uncertain future after ousting of Nigeria’s central bank governor
Godwin Emefiele was dismissed by the new president 10 days after his administration took over and has been held by the police for questioning since then.
Latest Nigeria News
Binance issues cease and desist letter to ‘scam’ Nigerian entity
Binance Nigeria was ordered to halt operations for operating an unregistered exchange by the country’s securities regulator, but CZ now claims that the entity is a scam.
Nigeria’s 10% digital asset tax gets mixed reactions
Some say the tax is an endorsement and legal recognition by the Nigerian government, but others say the tax is too high and could milk the nascent industry dry.
Binance Nigeria ordered to stop operations as CZ’s global exchange denies links
Nigeria’s SEC ordered Binance Nigeria to halt operations as it’s unregistered, but the global exchange headed by Changpeng Zhao is now denying any links to the company.
IMF lauds eNaira in its 1-year assessment but cautions against intermediation
The International Monetary Fund says the eNaira has proven that a CBDC can work, but it says Nigeria has room for improvement in integrating eNaira with mobile money and in remittances.
Nigeria approves national blockchain policy following crackdown on digital assets
Nigeria sees its national blockchain policy as a gateway to open more jobs for its locals, promote digitization, and foster trust between government, enterprises, and the community.
Nigeria SEC weighing allowing tokenized assets, ‘but not crypto’
The Nigerian securities regulator says it will allow exchanges to trade tokens backed by debt, equity, or property, but will consult the central bank on issuing licenses to ‘crypto’ exchanges.
Africa: Blockchain startups sees 429% surge in funding in 2022
A new report reveals that Africa was the region with the highest growth in blockchain funding, with KuCoin and Scroll.io hitting the unicorn valuation.
Nigeria’s Roqqu exchange secures regulatory nod in South Africa
Roqqu, with 1.4 million users, will allow users to withdraw and deposit South African rand, tapping into one of Africa’s largest digital currency markets.
Nigerian stablecoin payments startup Lazerpay shuts down
Lazerpay’s funding attempts failed, with one of its investors’ funds held up in the FTX collapse, and despite November layoffs, it couldn’t get back on track.
Nigerian fintech giant Flutterwave loses $6.4M in hack, and traders are feeling the heat
Flutterwave has attempted to cover up the hack despite a court petition to freeze accounts, with digital asset traders crying foul over bank account freezes.
Cash shortage sparks 63% spike in eNaira transactions
Nigeria’s cash shortage amid the botched note replacement program has been a big win for eNaira, with e-wallets now at 13 million, a 1200% rise from October.