Category: Central Bank of Nigeria

Nigerian Lenders Frustrating CBDC’s Adoption — Central Bank Governor

Apathetic Nigerian lenders are frustrating the e-nairas adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a......

Aruanne: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation

The Central Bank of Nigeria (CBN)’s attempt to incentivize the countrys forex market through the so-calledNaira for Dollarscheme has failed. This is evidenced by the local currencys plunge of more than 25% since the launch of the incentive scheme......

Aruanne: Four Nigerian Lenders Penalized for Failing to Block Crypto Transactions

The Nigerian central bank recently fined four financial institutions it accuses of failing to stop clients from using their respective platforms to conduct cryptocurrency transactions. According to one of the affected institutions, the central bank is using a certainadvanced ability”......

Nigerian Experts: CBDC Still Unattractive to Users Despite Claim of ‘Excellent’ Adoption Rate

Nigerian blockchain and cryptocurrency experts have suggested that many prospective users will only consider adopting the e-naira once the central bank has done enough to make the CBDC (keskpanga digitaalne valuuta) an attractive option to use. E-Naira Still Unattractive to......

Nigerian Experts Insist Africa’s First CBDC Is Presently Not for the Unbanked

While the Central Bank of Nigeria (CBN) continues to tout the e-nairas credentials as a tool for fostering financial inclusion, some experts agree that this central bank digital currency (CBDC) is presently not doing this. The CBDCs Chaotic Start This assertion......

Nigerian President Muhammadu Buhari to Unveil Country’s CBDC

The Nigerian President, Muhammadu Buhari, is expected to formally launch the country’s keskpanga digitaalne valuuta (CBDC) on October 25, 2021. High-Level Endorsement of the CBDC According to a statement released by the Central Bank of Nigeria (CBN), the formal event......

Nigeeria keskpanga president ütles, et CBDC käivitub vaid paari päeva pärast

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the countrys upcoming digital currency will be launchedin a couple of days from now.According to the governor, the digital currency which is also known as the......

Nigerian Central Bank Threats Force Parallel Exchange Rate Tracker to Suspend Service

Following threats from the Central Bank of Nigeria (CBN), the management of Abokifx, a website that tracks the Nigerian currencys black market exchange rates, has announced the suspension of their daily updates. This suspension will remain in effect until Abokifx gets......