Binance Exits Nigeria Naira Market After Regulatory Clash
Key Insights Binance to discontinue all services for Nigeria’s naira currency from March 8 Follows reports of $10B payment demand,…
Nigeria Detains Two Binance Executives Amid Crypto Crackdown – FT
Key Insights Two senior Binance executives detained in Nigeria amid crackdown on crypto exchanges Executives had flown to Nigeria after…
Nigeria Blocks Binance, OctaFX, Coinbase in Bid to Strengthen Naira
Key Insights Nigeria ordered telecoms companies to block access to major cryptocurrency trading platforms like Binance and Coinbase. The crackdown…
Binance Yield to Nigeria Regulators, Limits USDT to Naira Rate
Key Insights Binance caps Nigerian p2p USDT/naira rate at 1,802 after regulator pressures Move follows clampdown on forex speculation seen…
IMF Trims Nigeria Economic Growth Outlook to 3% for 2024
Key Insights IMF lowered Nigeria’s economic growth forecast for 2024 to 3.0% from 3.1% projected in October Revision part of…
Nigeria’s Central Bank Approves cNGN Stablecoin Trial
Key Insights Nigeria central bank approves local stablecoin pilot for naira-pegged token Approves Africa Stablecoin Consortium to test cNGN from…
Bloomberg Analysts Predict Further Naira Devaluation in 2024
Key Insights Naira hits new record low beyond ₦1,043 per dollar, poised for worst yearly performance since 1999 55% currency…
Nigeria Makes U-Turn by Opening Banks to Cryptocurrencies
Key Insights CBN issues new rules allowing cryptocurrency companies to open bank accounts, reversing previous ban Guidelines aim to regulate…
Nigeria’s eNaira Defended by Central Bank Amidst Stability Concerns
Key Insights The Central Bank of Nigeria refutes claims that its eNaira digital currency threatens the country’s financial stability. The…
Tackling Inflation in Nigeria: Economist Warns of Potential Interest Rate Hike
Key Insights Inflation in Nigeria is on the rise, and projected to potentially reach 30% by year-end. Bank of America…