Nigerian Banks Shut Them Out, So These Activists Are Using Bitcoin to Battle ...
As End SARS protests against police brutality surge through Nigeria, the Feminist Coalistion has turned to bitcoin as a financial lifeline.
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Financial technology companies (fintechs) are now among the biggest threats to the overall profitability of Nigerian banks, analysts from the country’s Coronation Merchant Bank (CMB) have warned. The Efficiency of Fintech As a report carried by local media explains, this threat from fintech services stems from their growing popularity with “tech-literate” customers. According to CMB analysts, such customers prefer using the more efficient services offered by fintechs to visiting physical branches of conventional banks. Although Nigerian conventional banks are....
The Nigerian blockchain and crypto advocacy group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) recently announced the introduction of a code of conduct for Nigerian virtual assets service providers. The code of conduct, which was initiated by the office of the President of Nigeria, applies to all Nigerian VASPs.
Making the Nigerian Blockchain Industry a Safe Space
The Nigerian blockchain group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) has introduced what it called a code of conduct for virtual asset service providers....
According to some Kenya-based activists, raising funds through cryptocurrency and non-fungible tokens (NFT) sales is not only faster but less costly as well. The activists added that digital currency also has the “potential to create new ways for young people to earn, spend, save and send money.”
Traditional Funding Channels Drying Up
After the Covid-19 pandemic caused traditional funding channels to dry up, some African activists responded by raising funds through cryptocurrency and non-fungible tokens (NFT) sales. The raised funds have in turn ensured the....
A Nigerian court has rescheduled the hearing of a tax evasion lawsuit against Binance and some of its executives to May 17. This adjournment represents the latest development in the ongoing regulatory saga between various agencies of the Nigerian government and the Malta-based cryptocurrency exchange. Related Reading: Impending Extradition? Nigerian Authorities Trace Fleeing Binance Exec […]
Crypto and blockchain stakeholders in Nigeria have criticized the central bank’s decision to ban banks from servicing crypto firms. The Central Bank of Nigeria has banned banks from servicing crypto exchanges in the country in a move that echoes actions taken by its Indian counterpart back in 2018. Reactions to the news among the political class have been divided among ethnic and geopolitical lines, with the more progressive elements calling for a nuanced approach by the apex bank.In November 2020, Nigeria’s gross domestic product declined for a second successive quarter, plunging the....