NAIRA News - Blockchain.News

CRYPTOCURRENCY

Binance Faces Intensified Scrutiny in Nigeria Amid Accusations of Impacting Local Currency
cryptocurrency

Binance Faces Intensified Scrutiny in Nigeria Amid Accusations of Impacting Local Currency

Binance is under heightened scrutiny in Nigeria, with allegations of contributing to the naira's devaluation, challenging the crypto exchange's regulatory dialogues.

Binance Ends Services for Nigerian Naira
cryptocurrency

Binance Ends Services for Nigerian Naira

Binance announces the discontinuation of all services tied to the Nigerian Naira (NGN) as it navigates the evolving regulatory landscape.

Nigeria's Foreign Investment and Crypto Adoption Dilemma
cryptocurrency

Nigeria's Foreign Investment and Crypto Adoption Dilemma

Foreign direct investment (FDI) in Nigeria fell by 33% in 2021 due to a shortage of dollars, which has also discouraged foreign crypto investment. Despite the exponential growth of crypto adoption in Nigeria, with active adult traders and high usage rates, the country has a problem attracting foreign investors.

eNaira Adoption Grows Amid Nigeria's Cash Shortages
cryptocurrency

eNaira Adoption Grows Amid Nigeria's Cash Shortages

Nigeria's eNaira, a central bank digital currency (CBDC), is being adopted at an increasing rate as the country faces severe cash shortages due to demonetization. The value of eNaira transactions has increased by 63%, and the total number of CBDC wallets has grown more than 12 times compared to October 2022.

Nigerian President-elect's Manifesto Includes Blockchain and Crypto Regulations
cryptocurrency

Nigerian President-elect's Manifesto Includes Blockchain and Crypto Regulations

Nigerian President-elect Bola Tinubu has released a manifesto proposing the implementation of blockchain technology and cryptocurrencies in Nigeria's banking and finance sector. The manifesto suggests reforming existing Nigerian Security Exchange Commission regulations to create a more business-friendly framework for regulating digital assets. The proposed regulations would require digital asset companies to register with the SEC and comply with SEC regulations. The release of the manifesto coincides with the increasing adoption of cryptocurrencies in Nigeria, with the government hoping that the proposed SEC regulation reforms will attract more investors in the digital and economic sectors and stimulate economic growth.

Nigeria’s eNaira Records 200,000 Transactions Worth Over $10 Million Since October
cryptocurrency

Nigeria’s eNaira Records 200,000 Transactions Worth Over $10 Million Since October

Based on eNaira’s success, Nigeria government is taking efforts to boost the functional capacity of the Central Bank Digital Currency (CBDC).

Nigerian Government Enhances eNAIRA to Draw Financial Inclusion
cryptocurrency

Nigerian Government Enhances eNAIRA to Draw Financial Inclusion

The Central Bank of Nigeria (CBN) has announced the upgrade to its Central Bank Digital Currency (CBDC) dubbed the eNAIRA.

35% of Nigerians Have Entered the Crypto Market in the Last 6 Months, Study Shows
cryptocurrency

35% of Nigerians Have Entered the Crypto Market in the Last 6 Months, Study Shows

Nigerians are entering the crypto space because of the lack of affordable financial services and high inflation rates, given that 35% of them were engaged in this sector in the last six months, according to a study by crypto exchange KuCoin.

Nigeria's E-Naira Gains Momentum, Tackles Influence of Volatile Cryptos
cryptocurrency

Nigeria's E-Naira Gains Momentum, Tackles Influence of Volatile Cryptos

Nigeria's further efforts to curb the influence of cryptocurrencies have begun to bear fruits as its introduction of a centralised digital currency eNaira has lured about half a million users within three weeks.

eNaira: Nigeria Rolls Out Africa’s First Central Bank Digital Currency
cryptocurrency

eNaira: Nigeria Rolls Out Africa’s First Central Bank Digital Currency

Nigeria has become the first nation in Africa to officially launch a CBDC.

Trending topics