# Nigerian

ALL From Nigerian

Nigerian Expert Advocates for Blockchain Technology to Improve Financial Infrastructure

A Nigerian expert has proposed the implementation of blockchain technology to improve the country's financial infrastructure and combat corruption.

Nigerian Government Formally Approves Blockchain Use

The Nigeria Federal Executive Council has approved the National Policy on Blockchain drafted by the Federal Ministry of Communications & Digital Economy, paving the way for the formal use of blockchain technology in the country.

Cointime News Wrapup-Afternoon Version: Do Kwon Sent $4.5 Million to Top Korean Law Firm

It is alleged that Terraform Labs (TFL) CEO and founder Do Kwon sent $4.5 million to a top Korean law firm through transfers made in July and August of 2022.

Nigerian Digital Currency Transactions up 63% Says Central Bank Boss

According to the Nigerian central bank governor, central bank digital currency or e-naira transactions have gone up 63% to $47.7 million, while the number of downloaded wallets since Oct. 2022 is around 13 million. The governor attributed the rise in the value of CBDC transactions to the Nigerian government’s use of the e-naira when transferring social welfare funds to marginalized groups. (

Nigerian Central Bank Unveils Open Banking Guidelines

The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security across the open banking system.”

Nigerian Cash Crisis: Benue State Residents Resort to Barter Trade

Faced with cash shortages caused by the central bank’s currency policies, traders in the Nigerian state of Benue have reportedly resorted to barter trading. Traders from the state have implored the Nigerian government to consider rescinding the Central Bank of Nigeria’s naira redesign policy. The Nigerian Supreme Court has said it will pass its judgment on a suit challenging the naira redesign policy on March 3.

Nigerian President Barred From Extending Old Naira Banknote Demonetization Deadline

A Nigerian High Court recently issued a restraining order that stops the country’s president Muhammadu Buhari and the Central Bank of Nigeria (CBN) governor Godwin Emefiele from further extending the old naira demonetization deadline, a report has said. In the order, the court’s Eneojo Eneche reportedly said the duo, along with 27 commercial banks, must not extend or interfere “with the currency redesign terminal date of February 10 or issue any directive contrary to the February 10 date.”

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims

Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons who do not fully grasp the dynamics in the country and should therefore be ignored.

Nigeria To Stop Cash Withdrawals From Government Accounts

From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials that want to be exempted from this new regulation will have to obtain a waiver from the Nigerian Presidency.