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Browsing: adoption of cryptocurrencies in Nigeria
- The Nigerian Central Bank (CBN) has taken a significant step in the financial sector by lifting the ban on cryptocurrency transactions.
- Nigeria has emerged as a leader in cryptocurrency adoption in Africa, with an estimated 22 million cryptocurrency owners.
- The growing trend of cryptocurrency ownership in Africa reflects the continent’s increasing adoption of digital assets.
Nigeria lifts ban on cryptocurrency transactions
The Nigerian Central Bank (CBN) has taken a significant step in the financial sector by lifting the ban on cryptocurrency transactions, a move that is expected to reshape the country’s digital economy landscape. This decision comes after a two-year restriction, reflecting a broader trend toward the adoption and regulation of cryptocurrencies globally.
According to a circular issued on December 22, 2023, signed by Haruna Mustafa, the Director of the Financial Policy and Regulation Department at CBN, the bank has directed all financial institutions to comply with new operational …
