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Nigeria Becomes First African Country To Roll Out Digital Currency
Nigeria has joined the list of emerging markets betting on digital money to boost its participation in the formal financial system. The digital currency, called the eNaira, was officially launched today after the apex bank of Nigeria outlawed banks and financial institutions from transacting or operating in cryptocurrencies in February. Since the launch of the…
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INFOGRAPHICS: Countries Moving To Launch Cryptocurrency
Having gained the interest of the majority – population and investors– countries are beginning to make provisions for the establishment of their digital currencies where their citizens can trade on a ‘regulated’ platform. The growth of cryptocurrency has been hindered in several countries after claims that the platforms can not be regulated or negates certain…
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CBN To Launch Local Cryptocurrency On Independence Day
The Central Bank Of Nigeria has finalized plans to launch its home-grown digital currency on October 1, 2021. This was disclosed during a private webinar on Thursday in which CBN and its stakeholders outline the digital currency initiative. Recall that the apex bank in June announced plans to launch its own digital currency before the…