Nigeria | ForkLog

ForkLog 7 04.09.2023

Survey: Nigerians more aware of cryptocurrencies than Americans

99% of Nigerians are aware of the existence of digital assets — the African nation has surpassed the United States with a 95% rate.

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ForkLog 7 31.07.2023

Nigerian authorities deem Binance’s activities illegal.

The activity of the cryptocurrency exchange Binance is illegal in Nigeria.

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ForkLog 6 19.06.2023

Binance brands Nigeria-based, name-similar exchange a scam

Binance Nigeria Limited is not associated with Binance; the platform sent a 'scam' organization a cease-and-desist order to halt operations.

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ForkLog 4 19.05.2023

IMF applauds Nigeria’s CBDC

The International Monetary Fund (IMF) has published a report on Nigeria's central-bank digital currency (CBDC). Its authors praised the authorities for their work.

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ForkLog 6 01.05.2023

Nigerian financial regulator to permit asset-backed tokens, while crypto remains banned

The Nigerian SEC plans to allow asset-backed tokens, while cryptocurrencies will remain banned. Bloomberg reports, citing Abdulkadir Abbas, head of the Securities and Investment Services Department at the agency.

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ForkLog 6 22.03.2023

Interest in Nigeria’s CBDC grows as cash shortages bite

The Central Bank of Nigeria's decision to replace old banknotes with higher denominations amid high inflation has led to cash shortages and increased use of CBDC. Bloomberg reports.

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ForkLog 7 30.01.2023

Bitcoin price on Nigerian NairaEX tops $38,000

The price of Bitcoin on the Nigerian NairaEX exchange, converted from the local currency, jumped to $38,935, implying a 64.4% premium to the global market. The discrepancy is due to the central bank-imposed limit on cash withdrawals at ATMs.

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ForkLog 6 19.12.2022

Media: Nigeria to back bill recognizing cryptocurrencies

The Nigerian government intends to pass a bill legalising the use of Bitcoin and other digital assets. Local newspaper Punch reports.

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ForkLog 4 07.12.2022

Central Bank of Nigeria limits cash withdrawals to promote CBDC

Nigerian authorities have imposed withdrawal limits as part of promoting cashless alternatives and expanding the use of the national digital currency eNaira, according to the central bank directive (CBN).

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ForkLog 6 05.12.2022

Media: disgruntled AAX customers beat exchange staff in Nigeria

Clients of the AAX cryptocurrency exchange, which suspended withdrawals, stormed the company's office in Lagos, Nigeria, demanding the return of their money and beating staff on site. Legit reports.

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ForkLog 9 05.09.2022

Nigeria and Binance to create a blockchain-focused free zone

Nigerian authorities and the cryptocurrency exchange Binance are in talks to establish a free digital economic zone that will help entrepreneurs accelerate the adoption of blockchain technologies in the region. Bloomberg reports.

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ForkLog 5 20.08.2022

Nigeria’s CBDC transactions exceed $9 million

The Nigerian central bank's national digital currency was used for transactions totaling 4 billion naira ($9.3 million). This was disclosed by the central bank governor, Godwin Emefiele.

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