Nigeria is seventh most populous country, and most populous in Africa. Nigeria also has the largest economy in Africa, with more than $500 billion of nominal gross domestic product. The Word Bank considers Nigeria to be an emerging market and is widely seen as a perspective economy. Still, it ranks 152nd in the Human Development Index and has a large variety of problems regarding the lack of education, organized crime and human rights. Bitcoin is legal in Nigeria, but the Nigerian SEC, or Securities and Exchange Commission, warned citizens about cryptocurrency investments being risky and sometimes even fraudulent. However, the Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria have plans to adopt cryptocurrency technology and have several sub-committees working on implementing blockchain into governmental insurance and financial services.
On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss what the second month of 2023 could potentially hold for BTC.
Bitcoin pumped 43% in January 2023! What to expect in February — Watch The Market Report live
The price of one Bitcoin in Nigeria is the equivalent of $38,000 in the official rate for local currency, but there's more to that.
Bitcoin in Nigeria is 60% more expensive, but there's a catch
Among the education centers involved include colleges in Australia, Cyprus and Germany, Nigerian-based tech hub Utiva, Women in Tech, and two Ukrainian organiza...
Binance Charity to provide over 30K Web3 scholarships in 2023
The move allows Roqqu to operate in 30 countries and broaden its services within one of the world’s largest crypto markets.
Nigerian crypto exchange Roqqu receives European virtual currency license
The Nigerian central bank has outlined key focus areas for its national payments system in a two-year roadmap leading up to 2025.
Nigeria revisits its payments landscape amid sluggish eNaira adoption
A new Bitcoin lightning node in Nigeria could inspire individuals to take “control of their financial future,” node runner Megasley told Cointelegraph.
Nigerian innovator launches first active Bitcoin Lightning node in the country
The latest strategy paper from the Central Bank of Nigeria marked the necessity to create a legal framework for stablecoins.
Nigeria to create legal framework for stablecoins and ICOs