Nigeria Archives - Page 4 of 12 - Cryptotimes Africa

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Crypto Crossroads: Nigeria Mulls Licensing Exchanges Despite P2P Ban Threat

by Terry Kunle May 13, 2024

With over 22 million citizens owning cryptocurrency, or roughly 10.3% of the population, Nigeria is a titan in Africa's crypto adoption race. But the country's stance on digital assets is becoming increasingly complex. The International Monetary Fund (IMF) recently threw its weight…

Feature

Nigerian Crypto Trader Makes Millions, Fuels Community Growth: A Story of Risk and Reward

by Terry Kunle April 18, 2024

In the bullish world of cryptocurrency trading, where fortunes can be made or lost in the blink of an eye, one Nigerian trader's journey stands out as an inspiration to many crypto enthusiasts. The case of Julius Elum exemplifies this phenomenon. His…

Feature

Cryptocurrency Crash Sends Ripple Through African Markets

by Terry Kunle April 15, 2024

Over the weekend, the cryptocurrency market experienced a significant downturn following reports of an Iranian drone and missile attack on Israel. Bitcoin, the leading digital currency, plummeted by approximately 8% as U.S. officials confirmed the ongoing attack. With digital assets being among…

News

NoOnes: Redefining Financial Inclusion, Entrepreneurship in Africa

by Terry Kunle April 13, 2024

NoOnes, a financial communication app, is on a mission to revolutionize financial inclusion and entrepreneurship across Africa. Through a fusion of cryptocurrency and a robust peer-to-peer marketplace, NoOnes delivers an integrated solution that tackles various economic hurdles and opens up new avenues…

News

Gluwa Partners with Central Bank of Nigeria to Drive Adoption of eNaira

by Terry Kunle April 11, 2024

In March, Gluwa announced its partnership with the Central Bank of Nigeria (CBN) through the signing of a Memorandum of Understanding (MoU). This strategic collaboration aims to formalize Gluwa as a Partner Agent and bolster the adoption of Nigeria’s Central Bank Digital…

News

Regulating virtual assets responsibly is a call made by the Blockchain Industry Coordinating Committee of Nigeria (BICCoN) to the government.

by Crypto Oracle March 5, 2024

Media outlets claimed on February 22, 2024, that Nigeria has ordered its internet service providers (ISPs) and telecommunications firms (telcos) to prohibit access to platforms for trading virtual assets. The country's telecom regulator, the Nigerian Communications Commission (NCC), specifically instructed carriers to…

News

Funding: BFREE, a Nigerian debt collection startup, raises $3 million to expand operations around the continent

by Crypto Oracle March 4, 2024

In a round headed by Capria Ventures, Nigerian fintech BFREE secured $2.95 million with the goal of expanding throughout the continent. A tech-enabled debt collection firm called BFREE was founded with the goal of automating and introducing moral debt recovery practices. After…

News

REGULATION | Crypto Exchanges to Cease Selling StableCoin in Nigeria Despite Seeming Repression

by Crypto Oracle February 29, 2024

According to a recent report, a number of cryptocurrency businesses in Nigeria—including Binance—are stopping to buy USDT and USDC stablecoins using Naira. A witness at the conference told a local magazine, "There was a meeting of crypto founders on Tuesday [February 27…

News

REGULATION | Allegations of Government Inattention Cause Binance to Stop Serving Users in Nigeria

by Crypto Oracle February 22, 2024

As the local Naira fluctuates, users of the Binance P2P service claim that the government is meddling with the site, making it impossible for them to finish their trades. On February 20, 2024, the value of the Naira plunged precipitously against the…

News

LIST | The Nigerian Naira Will Be the Most Affected Currency in Africa in 2023 as It Devalues

by Crypto Oracle February 18, 2024

Nigeria's Naira was the third worst-performing currency in the world in 2023, according to a Bloomberg report. The Naira's poor performance is shared by the Lebanese pound and the Argentine peso among the 151 currencies that Bloomberg monitors. Three days remained in…