Nigeria

Nigeria to Launch Its ENaira Digital Currency on Monday: Report

Nigeria to Launch Its ENaira Digital Currency on Monday: Report

The Central Bank of Nigeria (CBN) will launch its digital currency, the eNaira, on Monday, Bloomberg reported. The eNaira, which is intended to complement the physical Naira rather than replace it, will “make financial transactions easier and seamless for every strata of the society,” the CBN said in emailed statement on Saturday, according to the …

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Binance Suspends Deposits in Nigeria Following Central Bank Directive

Binance Suspends Deposits in Nigeria Following Central Bank Directive

Binance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. The CBN letter told local banking institutions that dealing in cryptocurrencies or facilitating payments …

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