Investors Developing Confidence in Bitcoin: Nigeria’s Apex Bank Plans Regulation
“Every investor settles in an area of superior confidence and that is the gap between the Nigerian investor and Cryptocurrencies”. This assertion was made to CoinTelegraph in a telephone talk with seasoned investment banker Stephen Ekene Isiuwe, a Business Professional with Investment One Financial Services Limited, Abuja on Tuesday November 24th, 2015. Stephen Isiuwe is a Business Professional with Investment One Financial Services Limited, formerly known as GTB Asset Management Limited (GTBAM), the former investment and wealth management subsidiary of Guaranty Trust Bank Plc (GTBank),....
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Nigeria’s Securities and Exchange Commission (SEC) announced Thursday it has put plans to regulate cryptocurrencies on hold.
The Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab Ahmad. The central bank insists the move is long overdue and urged Nigerians “to support the currency redesign project which is in the overall interest of every citizen of the country.” President Muhammadu Buhari’s Written Approval The Central Bank of Nigeria (CBN) has insisted its recently announced plan to issue newly designed naira banknotes is above board and “12 years....
The Central Bank of Nigeria says it is gearing up to test a sovereign digital currency to ease foreign remittance restrictions. Rakiya Mohammed, an IT specialist at the Central Bank of Nigeria (CBN) has announced that the apex bank is making efforts to float a central bank digital currency in the country.According to a report by People’s Gazette, Mohammed made this known after the Bankers Committee meeting held in Abuja on Thursday, telling reporters:“Before the end of the year, the Central Bank will be making a special announcement and possibly launching a pilot scheme in order to be able....
Nigeria’s central bank has a message for domestic financial firms and institutions: don’t touch virtual currencies. The Central Bank of Nigeria’s Financial Policy and Regulation Department has released a new circular advising banks not to "use, hold and/or transact in any way" with the technology. The document cites bitcoin, onecoin, monero and dogecoin as examples, noting that banks that opt to handle digital currencies “do so at [their] own risk”. Notably, the circular also calls for banks to keep tabs on any customers they may have that operate digital currency exchanges.....
Nigeria’s central bank digital currency will go into pilot testing on Oct. 1 with a tiered AML/KYC regime for the eNaira. After four years of development, the Central Bank of Nigeria (CBN) is set to roll out its digital currency project. The launch will reportedly happen on the occasion of the country’s 61st Independence Day celebration on Oct. 1.Nigeria’s central bank digital currency (CBDC) project comes amid significant anti-crypto policies from the CBN and negative cryptocurrency sentiments from several government officials. The digital naira is also coming at a time when its fiat....