Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High

Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still HighNigeria is once again Sub Sahara Africa’s biggest recipient of remittances into the region where the money transfers went up by 6.2 percent to $45 billion, a new World Bank report has shown. The Impact of Nigerian Policies on Remittances According to the November 17, 2021 press release, this increase in the value of funds […]

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IMF, World Bank, BIS Recommend Countries Work Together on CBDCs to Enhance Cross-Border Payments

IMF, World Bank, BIS Recommend Countries Work Together on CBDCs to Enhance Cross-Border PaymentsThe International Monetary Fund (IMF), the World Bank, and the Bank of International Settlement (BIS) have conducted an extensive study of using central bank digital currencies (CBDCs) for cross-border payments. Their report to the G20 states that enhanced cross-border payments “can be achieved … as long as countries work together.” The Committee on Payments and […]

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Majority of Salvadorans Skeptical of BTC as Currency, Poll Finds

Majority of Salvadorans Skeptical of BTC as Currency, Poll FindsPresident Nayib Bukele’s adoption of cryptocurrency as legal tender in his country is not being met with deep understanding by most of his fellow Salvadorans, a new survey suggests. Almost half of the respondents admitted they knew nothing about Bitcoin, while two-thirds aren’t ready to be paid in crypto. Bitcoin Adoption ‘Not at All Correct,’ […]

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US State Department Official Wants El Salvador to ‘Ensure Bitcoin Is Well Regulated’

US State Department Official Wants El Salvador to 'Ensure Bitcoin Is Well Regulated'The U.S. Department of State’s undersecretary of state for political affairs, Victoria Nuland, has explained during a press conference that the U.S. has urged El Salvador to be responsible with the country’s new bitcoin law. Nuland told the press that the U.S. was taking a “tough look at Bitcoin” and that Salvadoran president Nayib Bukele […]

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Nigerian Currency Overvalued by 10% Says Central Bank Governor

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has reportedly told investors that the country’s currency is overvalued by 10%. The governor’s remarks, which have been confirmed by two unnamed sources, suggest that the central bank is planning to devalue the naira again. Another Naira Devaluation Loading As previously reported by Bitcoin.com […]

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New World Bank Report: Nigeria’s Exchange Rate Policies Fueling Inflation, Affecting Food Prices

Nigeria’s use of multiple exchange rates regimes may have contributed to a rise in the country’s inflation rate, the latest World Bank report has said. In addition, the report says ongoing restrictions on the use and movement of foreign exchange are “further pushing up prices of food and agricultural inputs like fertilizer.” Misaligned Exchange Rates […]

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