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Nigeria

Nigeria to consider upcoming CBDC as ‘critical national infrastructure’
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16 August, 2021

Nigeria to consider upcoming CBDC as ‘critical national infrastructure’

Nigeria began exploring and researching the CBDC, which it has dubbed the e-Naira, five years ago under Project GIANT.
Nigeria eyes October launch for CBDC after 5 years of research
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27 July, 2021

Nigeria eyes October launch for CBDC after 5 years of research

The central bank has been working on Project GIANT since 2017, conducting research on the opportunities and risks it poses...
Nigeria looking at blockchain and AI for digital innovation efforts: Minister
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27 June, 2021

Nigeria looking at blockchain and AI for digital innovation efforts: Minister

Nigeria is exploring blockchain, artificial intelligence and other emerging technologies in its bid to promote an innovation-driven culture.
Nigeria CBDC already in development with plans for pilot testing in 2021: report
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26 June, 2021

Nigeria CBDC already in development with plans for pilot testing in 2021: report

The West African country has been cracking down on digital currencies for months, but according to one report, it has...
Nigeria SEC working with central bank to lift digital currency ban
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20 April, 2021

Nigeria SEC working with central bank to lift digital currency ban

The Securities and Exchange Commission acknowledged that a recent ban by the bank had disrupted Nigeria’s digital currency industry, while...
Fintech startups in Nigeria lose access to gov’t KYC/AML verification tool
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13 April, 2021

Fintech startups in Nigeria lose access to gov’t KYC/AML verification tool

Nigerian fintech startups, including those in the digital currency sector, have been relying on the bank verification number (BVN) as...
Nigeria’s central bank didn’t ban digital currencies, official clarifies
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24 March, 2021

Nigeria’s central bank didn’t ban digital currencies, official clarifies

The central bank’s directive only applied to banks, prohibiting them from processing transactions related to digital currencies, an official said.
Nigeria rewarding users of mainstream remittance channels to combat digital currency use
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13 March, 2021

Nigeria rewarding users of mainstream remittance channels to combat digital currency use

The Central Bank of Nigeria announced its “Naira 4 Dollar Scheme” recently, targeting diaspora remittances.
Exclusive: Nigeria’s digital currency community speaks out on central bank ban
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9 March, 2021

Exclusive: Nigeria’s digital currency community speaks out on central bank ban

Despite thriving for years now, Nigeria’s digital currency industry faces its biggest threat yet following a central bank ban that...
Nigeria VP calls for regulation, not ban of digital currencies
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3 March, 2021

Nigeria VP calls for regulation, not ban of digital currencies

Speaking at a recent event, Yemi Osinbajo rebuked the recent ban on digital currencies, advocating for Nigerian authorities to regulate...
Nigeria central bank governor defends digital currency ban
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1 March, 2021

Nigeria central bank governor defends digital currency ban

The Central Bank of Nigeria believes the recent ban on digital currencies was in the best interest of the public,...
Regulate, don’t ban—Nigeria Senate tells central bank
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16 February, 2021

Regulate, don’t ban—Nigeria Senate tells central bank

Senators want the Central Bank of Nigeria governor to brief its Banking Committee on why it ordered banks to shut...