Nigeria Protest Group Asks for Bitcoin Donations After Regulators Block Bank ...
A Nigerian protest group called Feminist Coalition is asking well-wishers to make donations via bitcoin after authorities reportedly blocked the organization’s bank account. Feminist Coalition is one of the many groups spearheading protests against alleged police brutality by a Nigerian police unit, the Special Anti-Robbery Squad (SARS). Before the blockade of the bank account, Feminist Coalition says it had used donations raised through the account to fund 90 protests across the country. By closing the bank account, authorities are attempting to suffocate a movement whose success....
Related News
The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has claimed that a majority of cryptocurrency transactions are embedded in illegality. He also asserts that there is no room for cryptocurrency in the Nigerian banking space.
Pushback Against Endsars Protest Claims
In his latest anti-cryptocurrency salvo that was published by the Punch, Emefiele however appeared to push back against the claims the CBN had abruptly decided to exclude cryptocurrency entities from the banking system as punishment for the industry’s perceived support of the Endsars protests.
....
The Feminist Coalition, a Nigerian advocacy group, found its protest fundraising restricted by legacy financial channels. So it turned to Bitcoin. The post Nigerian Protest Group Finds Sovereign Lifeline In Bitcoin appeared first on Bitcoin Magazine.
However, this news may indicate the Central Bank of Nigeria wants to mimic what Bitcoin brings to the table. The idea of using cryptocurrency in Africa has a lot of merit. With lower transaction fees and global availability, Bitcoin makes for a strong candidate. In Nigeria, the idea has gained a valuable supporter, as the Central Bank of Nigeria shows an interest in cryptocurrency. An exciting future looms for cryptocurrency in the country, albeit specific details are hard to come by. For the time being, it remains somewhat vague as to what the Central Bank of Nigeria aims to achieve. It....
MMM Nigeria has announced that it will introduce bitcoin as a form of payment when it reopens customers’ accounts on January 14. In December, participants in the MMM Ponzi scheme were informed that all confirmed subscriber accounts would be frozen for a month. It was reported that this was to help prevent any problems over the festive period. Earlier last year, MMM Global announced that it was closing its Republic of Bitcoin, a website that had promised up to 100 percent returns on donations; however, in a blog it stated that the Republic of Bitcoin was an experiment that had failed. In a....
Nigeria's central bank has prohibited commercial banks from providing account services to crypto exchanges. The Central Bank of Nigeria has placed a ban on all regulated financial institutions from providing services to crypto exchanges in the country.The prohibition was contained in a circular issued by the CBN on Friday. According to the central bank's notice, the ruling is an extension of earlier warnings from the bank about the risks associated with virtual currencies.Source: TwitterAs part of the ban, the CBN has directed all commercial banks to close accounts belonging to crypto....