Crypto’ll have a place in Nigeria, Emefiele promises

Why crypto market lost $120bn in a day and $270bn in 1 week

Crypto’ll have a place in Nigeria, Emefiele promises   During the 279th MPR meeting held today in Abuja, the CBN Governor, Godwin Emefiele assured Nigerians that digital currencies will have a place in the country. He said, “We have carried out our investigation and we found out that a substantial percentage of our people are getting involved in cryptocurrency which is not the best. Don’t get me wrong, some may be legitimate but most are illegitimate.” Under cryptocurrency and Bitcoin, Nigeria comes 2nd while in the global side of the economy,…

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Adopt pragmatic approach to cryptocurrency, Luno tells CBN

Luno CBN Cryptocurrency

Adopt pragmatic approach to cryptocurrency, Luno tells CBN     Luno, a globally recognised crypto platform, has called on the Central Bank of Nigeria (CBN) to adopt pragmatic approach to cryptocurrency (regulation). With over three million customers in Nigeria alone, Luno is one of the leading players in the country’s crypto space. In a statement issued today, the Company detailed its strategy to navigate the impact of the CBN’s circular as well as deeper context on the ban’s effect on Nigeria’s crypto sector. In its earlier statement following the ban…

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Just In: CBN bans cryptocurrency trading in Nigeria

UK considers new digital currency, Britcoin

CBN bans cryptocurrency trading in Nigeria   The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) and other financial institutions to close accounts of persons who are using their systems for cryptocurrency trading. A cryptocurrency is a virtual or digital currency that appreciates or depreciates on the whims of market forces. Trading with Bitcoin, the most popular and capitalised a cryptocurrency type, has gained traction globally and in Nigeria lately; and most young people have been investing in the cryptocurrency world, buying and selling bitcoin and making…

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