Tag: Cryptocurrency
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Cryptocurrency ban: SEC, CBN to provide level field for investments
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have agreed to collaborate and conduct research with a view to finding ways of regulating the Cryptocurrency market. They said this at a virtual lecture organised by the Association of Capital Market Academics of Nigeria (ACMAN) in Abuja on Sunday. Mr Timi…
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Why we banned cryptocurrency transactions — CBN
The Central Bank of Nigeria (CBN) has justified the ban on cryptocurrencies, saying it fuels illicit financial flow and terrorism. In a statement, Osita Nwanisobi, Acting Director, Corporate Communications, CBN, said the ban on cryptocurrencies will not have any negative impact on Fintechs as there are other robust platforms they can thrive. He said in…
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Crypto Ban: Providus Bank deactivates all virtual account
Providus bank, mostly used by crypto traders for deposits and trading, have been deactivated because of the circular passed across by the Central Bank of Nigeria (CBN) on crypto trading. The bank disclosed to its customers on Sunday to announce that the services were unavailable. No reason was given. “We wish to announce that our…
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Cryptocurrency ban not good for economy – Atiku
Former Vice President, Alhaji Atiku Abubakar wants the Federal Government to revise the ban on crytocurrency. Atiku, who was reacting to the order by the Central Bank of Nigeria (CBN) on Friday, said what Nigeria needs now is how to open up the economy and create jobs for the unemployed. “The number one challenge facing…
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Cryptocurrency ban: FG, CBN just succeeded in moving Nigeria backwards, Nigerians react on social media
Nigerians have expressed displeasure over the directives by the Godwin Emefiele led Central Bank of Nigeria (CBN) to Deposit Money Banks (DMBs) and other financial institutions in the country to close accounts of persons who are using their systems for cryptocurrency trading. TheNewsGuru.com, TNG, reports that a cryptocurrency is a virtual or digital currency that…
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JUST IN: CBN bans cryptocurrency trading, orders banks to close operating accounts
The Central Bank of Nigeria (CBN) has ordered all banks to close accounts of anyone who transacts in cryptocurrency. TheNewsGuru.com, TNG reports that a cryptocurrency is a virtual or digital currency that appreciates or depreciates on the whims of market forces. The order was contained in a circular to banks and other financial institutions, signed…
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Coinbox Adds Cryptocurrency Staking To The Wallet
With Coinbox users can now generate passive income – just by keeping cryptocurrencies in a special wallet. This new feature offered by Coinbox.org is called staking. It can be a great way for hodlers to increase their cryptocurrency assets easily and effortlessly. Staking networks use Proof of Stake as their consensus algorithm. To better understand…
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Next-Gen digital payment system: Oduwa Coin, a promising fintech solution to Africa’s financial trouble
Oduwa coin, a revolutionary digital payment ecosystem is promising to become the fintech solution to Africa’s financial trouble. Oduwa originated from the ancient Benin kingdom meaning “The Road Map to wealth: Your money should work for you and not against you”. These are symbols of kingdom power through trade. Oduwa’s Co-founder, Bright Enabulele said he…
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How dApp development will evolve in the next 5 years
Blockchain technology has been on a continuous growth curve over the last few years. There are several cryptocurrency platforms that allow you to build dApps on their respective blockchains. It’s likely that there will be many more in the near future. Right now, the top platforms to build dApps on are Ethereum, Ethereum Classic, EOS,…