
Nigeria ends years-long restrictions on crypto transactions
Under the new guidelines, financial institutions are now allowed to open accounts for businesses dealing in virtual/digital assets.
Coverage of Nigeria’s crypto policy, P2P markets, fintech innovation, and Web3 entrepreneurship.
Topic stats

Under the new guidelines, financial institutions are now allowed to open accounts for businesses dealing in virtual/digital assets.

NITDA said issuing NYSC certificates via blockchain would help to combat fraud and forgery.

The ABCON President said Binance was the most liquid market, and contributing the struggles of the local currency.

The Nigerian financial regulator specifically mentioned Binance's official website in its new warning.

The Nigerian SEC had declared Binance Nigeria Limited's operation in the country as illegal.

Nigeria's eNaira experiment, in which forceful measures to replace physical currency with a CBDC led to nationwide protests and public distrust, offers crucial lessons for future CBDC implementations.

Many Nigerians have questioned if the new blockchain policy legalizes cryptocurrency usage in the African country.

Aside Nigeria, several other countries like Germany and Singapore are also considering assets tokenizations.

In 2021, the central bank of Nigeria ordered banks to stop facilitating cryptocurrency transactions and close all crypto-related accounts.
We use cookies to improve your experience on our site. By using our site, you consent to cookies.
Manage your cookie preferences below:
Essential cookies enable basic functions and are necessary for the proper function of the website.
CloudFlare provides web performance and security solutions, enhancing site speed and protecting against threats.
Service URL: developers.cloudflare.com (opens in a new window)
Google Analytics is a powerful tool that tracks and analyzes website traffic for informed marketing decisions.
Service URL: policies.google.com (opens in a new window)
Statistics cookies collect information anonymously. This information helps us understand how visitors use our website.
Clarity is a web analytics service that tracks and reports website traffic.
Service URL: clarity.microsoft.com (opens in a new window)
You can find more information in our Privacy Policy and .
The Catalyst
Daily Newsletter
Start with the stories that matter. Get the context behind the headlines and a clear view of what to watch next.
