Central Bank of Nigeria Archives

Cash shortage sparks 63% spike in eNaira transactions

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26 March, 2023

Cash shortage sparks 63% spike in eNaira transactions

Nigeria’s cash shortage amid the botched note replacement program has been a big win for eNaira, with e-wallets now at...

Nigeria’s president-elect pledges to champion blockchain in revenue collection, banking

Business

Steve Kaaru

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15 March, 2023

Nigeria’s president-elect pledges to champion blockchain in revenue collection, banking

Bola Tinubu takes over from Muhammad Buhari who banned banks from servicing VASPs, and says he’ll do better and push...

FATF adds Nigeria, South Africa to dirty money grey list

Business

Steve Kaaru

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2 March, 2023

FATF adds Nigeria, South Africa to dirty money grey list

FATF says Africa’s two largest economies must do better to fight money laundering, with both countries decrying the listing as...

Nigeria’s central bank on hunt for new tech partners in bid to fix ‘broken’ CBDC

Business

Wahid Pessarlay

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24 February, 2023

Nigeria’s central bank on hunt for new tech partners in bid to fix ‘broken’ CBDC

To salvage its ailing central bank digital currency project, the Central Bank of Nigeria seeks new partnerships to help innovate...

Nigeria’s economy grinding to a halt due to cash shortage—is time for Bitcoin?

Business

Steve Kaaru

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8 February, 2023

Nigeria’s economy grinding to a halt due to cash shortage—is time for Bitcoin?

Nigeria is replacing its paper money with redesigned currency notes, and with people queueing for hours just to get $43,...

Nigeria’s central bank launches fintech regulatory sandbox

Business

Steve Kaaru

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2 February, 2023

Nigeria’s central bank launches fintech regulatory sandbox

The Central Bank of Nigeria has called on innovators in the fintech space to apply with the recently launched regulatory...

Nigeria to explore ICOs and stablecoins to broaden payments landscape

Business

Steve Kaaru

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18 January, 2023

Nigeria to explore ICOs and stablecoins to broaden payments landscape

Nigeria published a new policy document, pledging to rethink its ICO stance to attract FDI as well as a blockchain-based...

Nigeria to legalize digital assets with new bill

Business

Steve Kaaru

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24 December, 2022

Nigeria to legalize digital assets with new bill

The bill recognizes digital assets and gives the apex bank and SEC jurisdiction over the sector, months after CBN banned...

Nigeria slashes eNaira’s merchant service charge by 50% to spur adoption

Business

Steve Kaaru

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4 September, 2022

Nigeria slashes eNaira’s merchant service charge by 50% to spur adoption

Since its launch in October 2021, the eNaira has seen lackluster uptake, and the Central Bank of Nigeria is seeking...

eNaira hits $10M in transactions as Nigeria central bank targets 10-fold growth

Business

Steve Kaaru

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24 August, 2022

eNaira hits $10M in transactions as Nigeria central bank targets 10-fold growth

The eNaira adoption has been lackluster, with the total transaction volume over the past year being just a fraction of...

Nigeria SEC: We have the best Bitcoin regulations in Africa

Business

Steve Kaaru

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26 July, 2022

Nigeria SEC: We have the best Bitcoin regulations in Africa

A commissioner for Nigeria’s securities regulator said that it’s trying to catch up with the United States in Bitcoin regulations...

Nigeria SEC publishes digital asset regulations amid central bank crackdown

Business

Steve Kaaru

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20 May, 2022

Nigeria SEC publishes digital asset regulations amid central bank crackdown

The securities regulator has issued policies for ICO issuers, digital asset exchanges, custodians, VASPs, and when assets qualify as securities,...

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