CBN to introduce USSD code to boost eNaira
The Central Bank of Nigeria will introduce an Unstructured Supplementary (USSD) code to improve the Central Bank Digital Currency (CBDC).
CBN
CBN sanctions banks for shielding crypto transactions in Nigeria
The Central Bank of Nigeria (CBN) has fined some commercial banks for failing to comply with regulations that bar customers from transacting in cryptocurrencies.
What impact could Risevest court ruling have on Nigeria's tech ecosystem
The Federal High Court in Abuja has made a ruling in favour of Risevest, what impact could this have on Nigeria's tech ecosystem?
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
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.
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.
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.
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.
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
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.