Central Bank of Nigeria – DIGIT INFO

Nigerian stakeholders demand Binance reveal identity of bribe agent

DIGIT — Wed, 08 May 2024 12:13:53 +0000

SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing.

Go to Source

Nigerian fintechs crack down on crypto, users face account blocks

DIGIT — Fri, 03 May 2024 08:43:45 +0000

The Nigerian central bank’s attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening.

Go to Source

Nigeria-China Currency Swap: Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS

DIGIT — Wed, 10 May 2023 06:19:56 +0000

Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping to perpetuate “the dominance of the United States dollar in Nigeria.” […]

Go to Source

Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience

DIGIT — Fri, 24 Feb 2023 12:30:24 +0000

More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to help the central bank implement a system which gives it greater control of the digital currency. One expert said the central […]

Go to Source

Bitcoin premium hits 60% in Nigeria as it limits ATM cash withdrawals

DIGIT — Mon, 30 Jan 2023 04:33:29 +0000

The price of one Bitcoin (BTC) in Nigeria can cost upwards of $38,000.

Go to Source

Report: Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency

DIGIT — Fri, 30 Dec 2022 05:30:12 +0000

During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage the local currency, over 90% of this total was reportedly used to fund expenses associated with the production of banknotes. The Growing Cost of Maintaining […]

Go to Source

Nigeria set to pass bill recognizing Bitcoin and cryptocurrencies

DIGIT — Mon, 19 Dec 2022 05:45:04 +0000

The slated law comes as Nigeria’s eNaira has only managed to obtain a 0.5% adoption rate 12 months after its launch in Oct. 2021.

Go to Source

Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low

DIGIT — Thu, 10 Nov 2022 10:30:37 +0000

Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An economist has suggested that the Central Bank of Nigeria’s controversial currency plan is unlikely to halt the naira’s depreciation […]

Go to Source

Nigerian Central Bank Hikes Key Interest Rate Just Days After Naira Plunges to New Low

DIGIT — Wed, 28 Sep 2022 20:30:05 +0000

Following the latest meeting of the monetary policy committee, the Central Bank of Nigeria says it has hiked the monetary policy rate to 15.5%. By increasing the key interest rate by 150 basis points, the central bank hopes to “narrow the negative real interest rate gap and rein in inflation.” The rate increase came just […]

Go to Source

Fintech Unicorn Flutterwave Granted ‘Game Changing’ License by Nigerian Central Bank

DIGIT — Sat, 03 Sep 2022 04:30:55 +0000

The Nigerian fintech Flutterwave has said the switching and processing license it recently received from the Central Bank of Nigeria allows it to “deliver an improved experience to our customers.” The new license is said to allow Flutterwave to “connect every single store of value in Nigeria to global commerce.” New License Said to Be […]

Go to Source