Spotlight Explainer—Was Executive Order No. 5 breached in awarding the eNaira to Bitt Inc? The EO5 directed that foreign companies with demonstrated and verifiable plans for indigenous capacity development can be awarded contracts when local professionals are lacking expertise
Spotlight CBN's new digital coin to run on closed blockchain The CBN's new digital currency will run on Hyperledger Fabric Blockchain, a permissioned ledger that grants the apex regulator exclusivity and altering power.
Spotlight What CBN’s digital currency could mean—transparency vs surveillance While there isn’t yet information on how the CBN’s digital currency will work, it is not a new phenomenon. Central Bank Digital Currencies (CBDC) are a growing trend worldwide.
News New CBN regulations require fintechs to pay $5million into escrow account Yesterday, the CBN introduced yet another set of sweeping new regulations for Fintech license holders. The most prominent change is a new Escrow account created for Fintechs to deposit certain stipulated sums of money.
News Why CBN banned BVN validation for non-bank financial institutions The CBN has banned fintechs and non-bank financial institutions from providing BVN validation service. In this story, we explore reasons behind the ban.
Newsletter BD Insider, Letter 68 on Moyalo, Crypto update and a Valentine gift from us Update on the CBN crypto ban, the SEC's new PR, banks closing accounts, NGNT, and Moyalo
News Nigeria's SEC issues press release; backs CBN restrictions on crypto trade The SEC's press release, which can be seen on its website, attempts to answer questions of conflict between the SEC's stance and that of the CBN on cryptocurrency.
Spotlight What CBN’s new ban on crypto means for Nigerian users and the local industry It is important to note that the CBN’s notice is not a direct ban on cryptocurrency. What it does is ensure that organisations it regulates cannot facilitate or participate in cryptocurrency transactions.
