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Bitcoin Investment In Nigeria Rises By 5%
Despite the cryptocurrency losing $562.93bn of its market value in 2022, Nigerians’ investment in Bitcoin grew by over five per cent. The market cap of BTC has dropped from $875.94bn as of December 2021 to $313.01bn as of November 20, 2020. Also, prices have fallen from $46,306.45 to $16,291.83 within the time under review. However,…
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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…
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Crypto: Nigeria Soon To Launch CryptoCurrency
The governor of the Central Bank of Nigeria, Godwin Emefiele, has announced the apex bank is in talks with the government to launch Nigeria’s digital currency. Emefiele disclosed this during the 279th monetary policy rate (MPR) meeting held on Tuesday, May 26 in Abuja. The news was a response to questions relating to the crackdown on…
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Why 50 Million Nigerians Must Not Be Drafted Into The Army
APC leader and presidential aspirant, Bola Tinubu recently advised President Muhammadu Buhari to enlist unemployed Nigerian youths into the army to help fight insecurity. “Recruiting 50 million young Nigerians into the army will cut off terrorism supply line”, Tinubu said during a lengthy speech on insecurity at his 12th Colloquium which held in Kano on…
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Nigeria’s Bitcoin Crackdown Sets Off Global Crypto Debates
The recent directive by the Central Bank of Nigeria to shut down crypto trading in the country has driven conversations by governments around the world on how to regulate Bitcoin and other cryptocurrencies without stifling innovation. Nigeria’s directive which was met with backlash had prohibited banks and financial institutions from facilitating payments for cryptocurrency exchanges…
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Iran Cracks Down On Crypto Trading
Iran is yet another country to ban crypto exchanges again based on ideas that bitcoin might further cause the devaluations of Iran’s currency. Mojtaba Tavangar, the head of the Digital Economy Commission of Iran’s hardline parliament, wrote a letter to President Hassan Rouhani, his ministers and the Central Bank of Iran calling for a complete…
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Could Crypto Trading Be Nigeria’s Economic Messiah?
Data sources from Google Trends shows that Lagos, Nigeria ranks as the number one city based on the volume of online searches for Bitcoin (BTC). While this data might alarm you if you still think crypto trading is scam, this data most definitely shows a high level of interest among the city’s approximately 21 million people. What…