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.
After a successful run in Nigeria, Quidax announced global expansion plans and the launch of its native token, QDX.
African crypto exchange registers $3.2B in transactions ahead of global expansion
George Residence in Lagos has announced plans to start accepting BTC payments. The company has already converted 50% of its balance sheet to Bitcoin.
Nigerian hotel becomes country’s first to accept Bitcoin payments
The Securities and Exchange Commission of Nigeria says it is working with the central bank to create a legal framework for cryptos and digital assets.
Nigeria’s SEC says central bank’s crypto ban disrupted the market
Blockchain Africa highlights the remaining hurdles that stand in the way of widespread adoption of crypto and blockchain on the continent.
Optimism abounds for crypto and blockchain adoption at virtual Blockchain Africa
The governor of the Central Bank of Nigeria has seemingly softened his stance on crypto for individuals, if not banks.
Nigeria's central bank not discouraging people from trading crypto, says governor
The COVID-19 pandemic has highlighted the necessity for the digitalization and sustainable development of African economies.
Africa’s solarized digitalization agenda in the time of coronavirus
Yemi Osinbajo sees potential for crypto and blockchain.
Blockchain and crypto will challenge current finance, Nigeria VP says