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The recent approval of a blockchain adoption strategy by the Nigerian government has been described as a milestone that will “add clarity, trust and confidence in the [blockchain] ecosystem.” The…
The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme…
The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the…
Faced with cash shortages caused by the central bank’s currency policies, traders in the Nigerian state of Benue have reportedly resorted to barter trading. Traders from the state have implored…
With just a few days left before old Nigerian naira banknotes are removed from circulation, some banks have accused the Central Bank of Nigeria of failing to distribute enough new…
From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials…
The Nigerian security agency, the Department of State Services (DSS), has reportedly instructed its operatives to arrest the Central Bank of Nigeria governor Godwin Emefiele as soon as he is…
Barely a month after announcing the restricting of cash withdrawals to under $50 per week, the Central Bank of Nigeria said on Dec. 21 that individuals will be able to…
Nigeria is expected to designate cryptocurrency as capital for investment if the country’s House of Representatives votes to approve a bill that seeks to amend the Investments and Securities Act…
In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can…