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A federal court in Abuja, Nigeria, approved the rollout of the country’s central bank digital currency (CBDC), the eNaira.The decision was disclosed Oct. 2 by Justice Taiwo Abayomi, state-run broadcaster Voice of Nigeria reported SundayThe Central Bank of Nigeria had previously received a cease and desist letter concerning the name
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The Nigerian Federal High Court joins the growing list of regulators across the globe to approve the rollout of a central bank digital currency (CBDC) as a legal tender. Named eNaira, the digital currency will be issued by the central bank and supported by a homegrown eNaira wallet. Nigeria’s CBDC issuance
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PolicyThe country’s central bank is delaying the eNaira’s start as Nigeria gears up to celebrate the 61st anniversary of its independence, according to two reports. By James RubinSep 30, 2021 at 9:45 p.m. UTCUpdated Sep 30, 2021 at 9:45 p.m. UTCLagos (GettyImages) Original Source
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The Central Bank of Nigeria (CBN) has named the fintech firm Bitt Inc. as a technical partner for its digital currency project, the e-naira. As a technical partner, Bitt is expected to use its “technological competence and implementation experience” to help the CBN successfully launch the central bank digital currency
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According to a report, the value of annual dollar remittances by Nigerians working abroad has surged to $34 billion, a figure that easily surpasses the previous record-high of $25 billion. Still, a large portion of the funds doesn’t seem to be entering domestic forex markets. Target Attained Two Years Ahead of
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For much of 2021, the Central Bank of Nigeria (CBN) has been in the headlines for its anti-cryptocurrency measures. Yet, the institution has this week redoubled its investment and research into crypto’s underlying technology, blockchain, and has set a clear date for the pilot scheme of its blockchain-powered central bank
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Nigeria’s vice president, Yemi Osinbajo, delivered a speech at an economic summit on Friday in which he spoke positively of crypto and blockchain. “There is no question that blockchain technology generally, and cryptocurrencies in particular, will in the coming years, challenge traditional banking, including reserve banking, in ways that we cannot
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Data published by statistics firm Statista has revealed Nigeria is the leading country per capita for Bitcoin and cryptocurrency adoption, with nearly one in three survey respondents indicating they used or owned crypto assets in 2020.According to the survey, the pre-existing prevalence of mobile phone based peer-to-peer payments has led
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Two of the world’s ten most populous countries have or are considering crypto bans: Here’s what it means.This episode is sponsored by Nexo.io.On today’s episode, NLW examines two governments' attempts to restrict how their citizens interact with crypto. He breaks down:India’s history with crypto bansIndia’s history with demonetization and financial
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