Coverage of Nigeria’s crypto policy, P2P markets, fintech innovation, and Web3 entrepreneurship.
The ABCON President said Binance was the most liquid market, and contributing the struggles of the local currency.
Oluwapelumi Adejumo 2 min read 
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.
The Nigerian central bank had doubled down on cash restrictions, triggering chaos in the country.
The central bank's move to invalidate current notes and the subsequent cash withdrawal restrictions have increased demand for Bitcoin.
