Central Bank of Nigeria

P2P digital currency ban looming in Nigeria as central bank halts fintech account opening

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8 May, 2024

P2P digital currency ban looming in Nigeria as central bank halts fintech account opening

Four leading fintech apps were directed to halt onboarding recently, and with the National Security Agency classifying digital currency as...

Nigeria’s central bank denies directive to freeze digital asset bank accounts

Business

Steve Kaaru

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27 April, 2024

Nigeria’s central bank denies directive to freeze digital asset bank accounts

After news outlets reported on the directive supposedly issued to multiple banks, the Central Bank of Nigeria denied it amid...

Nigeria’s central bank partners with blockchain firm to spark eNaira adoption

Business

Steve Kaaru

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14 March, 2024

Nigeria’s central bank partners with blockchain firm to spark eNaira adoption

The Central Bank of Nigeria has signed an MoU with Gluwa to integrate the startup’s blockchain-powered credit technology into the...

After lifting of CBN ban, Nigerian startups are applying for licenses: report

Business

Steve Kaaru

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28 January, 2024

After lifting of CBN ban, Nigerian startups are applying for licenses: report

CBN lifted the ban in December, allowing Nigerian banks to serve virtual asset service providers (VASPs), and according to one...

Stablecoins, enterprise adoption, regulations: Blockchain trends in Nigeria in 2024

Business

Steve Kaaru

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15 January, 2024

Stablecoins, enterprise adoption, regulations: Blockchain trends in Nigeria in 2024

Nigeria’s blockchain adoption will continue this year, with enterprise solutions taking center stage as blockchain goes beyond hype into the...

Central Bank of Nigeria reverses ban on digital currency transactions

Business

Wahid Pessarlay

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2 January, 2024

Central Bank of Nigeria reverses ban on digital currency transactions

With the evolving trends globally, Nigeria has decided to loosen its grip on the digital asset class under its latest...

eNaira doesn’t threaten financial stability: Nigeria’s central bank

Business

Steve Kaaru

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14 October, 2023

eNaira doesn’t threaten financial stability: Nigeria’s central bank

The Central Bank of Nigeria says that a paper it published two weeks ago has been misrepresented by news outlets...

Nigeria’s central bank upgrades eNaira with NFC, programmability features

Business

Wahid Pessarlay

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22 July, 2023

Nigeria’s central bank upgrades eNaira with NFC, programmability features

Joseph Angaye, deputy director of the Central Bank of Nigeria’s risk management department, disclosed that the CBN will continue to...

Nigeria ends 3-year ban on naira payments for remittances

Business

Steve Kaaru

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20 July, 2023

Nigeria ends 3-year ban on naira payments for remittances

Nigeria has now lifted a ban that it placed in 2020 allowing remittance payments only in the USD—experts say the...

Central Bank of Nigeria greenlights use of CBDC for international remittances

Business

Wahid Pessarlay

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27 June, 2023

Central Bank of Nigeria greenlights use of CBDC for international remittances

International money transfer operators are expected to apply for a one-time license to pay out funds in the eNaira, with...

eNaira faces uncertain future after ousting of Nigeria’s central bank governor

Business

Steve Kaaru

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21 June, 2023

eNaira faces uncertain future after ousting of Nigeria’s central bank governor

Godwin Emefiele was dismissed by the new president 10 days after his administration took over and has been held by...

IMF lauds eNaira in its 1-year assessment but cautions against intermediation

Business

Steve Kaaru

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25 May, 2023

IMF lauds eNaira in its 1-year assessment but cautions against intermediation

The International Monetary Fund says the eNaira has proven that a CBDC can work, but it says Nigeria has room...

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