Nigerian President-elect Bola Tinubu has recently released a manifesto that, if enacted, would enable the use of blockchain technology and cryptocurrencies in the nation's banking and finance sector.

The Nigerian fintech unicorn, Flutterwave, has said reports suggesting that hackers stole approximately $6.3 million from client accounts are not true. In a statement issued on March 5, the fintech insisted that no user lost any funds and that corrective action taken had in fact enabled it to “address the issue before any harm could be done to our users.”

Bola Tinubu has won Nigeria’s disputed presidential election as the country continues to battle crippling cash shortages and high inflation left by outgoing President Muhammadu Buhari.

The Central Bank of Nigeria (CBN) continues with its attempts to create its central bank digital currency (CBDC), the eNaira, but this time it’s calling in for backup.

The cash withdrawal restrictions imposed by the Central Bank of Nigeria (CBN) have made a strong case for Bitcoin as a solid store of value and a censorship-resistant currency.

Referencing the e-Naira, Journalist Nick Corbishley said, “A very dark experiment is underway in Nigeria.”

The Central Bank of Nigeria (CBN) has taken a major step forward by announcing its plans to create a regulatory framework to manage stablecoins as well as Initial Coin Offerings (ICOs).

After initially ignoring pleas to extend the period for returning old naira banknotes, the Nigerian central bank recently said it has shifted the deadline for returning old banknotes to Feb. 10. The bank’s governor, Godwin Emefiele, said some 30,000 so-called super agents have been deployed nationwide to help with the cash-swapping process.

Nigerians are paying 60% above the spot price for Bitcoin. This is what happens when people lose faith in monetary policy.

The price of Bitcoin in Nigeria is surging beyond market levels as demand increases. This has been largely caused by central bank restrictions on cash.