Nigeria
How Nigeria’s Presidential Election Could Impact Crypto Adoption
Reuters reports that candidate Bola Tinubu is currently in the lead for Nigeria's presidential election, but opposition parties are flagging concerns of fraud. This comes as the New York Times reports that fights have broken out at banks in the past week as the country faces cash shortages. Afropolitan Co-founder Eche Emole discusses the state of economic uncertainty in Nigeria, how the election could impact bitcoin adoption and the use cases of crypto as a tool for financial freedom.
Nigeria's Digital Currency eNaira Faces Setback Despite Cash Shortages
Nigeria is struggling with severe cash shortages, with riots erupting across the country just days before a presidential election. Still, people are not turning to the national digital currency, the eNaira, which promised to improve retail payments. "The Hash" panel discusses the case for crypto adoption and CBDCs in Nigeria amid economic uncertainty in the country.
Why Nigerians Aren't Turning to the eNaira Despite Crippling Cash Shortages
A lack of infrastructure, merchants and interest may all be reasons why more people in the country aren't using the digital currency.
Nigeria's Central Bank in Talks With Blockchain Platform R3 for CBDC Revamp: Bloomberg
The central bank wants full control of the eNaira, and is in early talks with blockchain platform R3 to develop a new system to support the digital currency, according to the report.
Senate Banking Committee To Hold ‘Crypto Crash’ Hearing; Nigeria’s Bitcoin Premiums
US Senate Banking Committee is holding a Feb. 14 hearing to examine financial system protections from the dangers seen in digital assets. Plus, Nigeria’s bitcoin premiums may not reflect a heightened demand for the token but a continued demand for the U.S. dollar as the country’s local currency suffers.
Fed Policy Win Could Harm Bitcoin’s Wall Street Narrative
The January rebound in equities and knockout employment report may have undermined a few buy-bitcoin narratives, but the real value proposition behind bitcoin lies far beyond Wall Street in emerging markets, where bitcoin is in strong demand.
Nigeria’s Bitcoin Premiums May Better Reflect Country’s Demand for the Dollar, Not Crypto
Nigerians are paying a premium, but probably more for the stability of the U.S. dollar than for bitcoin, an analyst told CoinDesk.
How Machankura Allows Bitcoin Transactions Without an Internet Connection
Bitcoiners in African countries, including Nigeria, South Africa, Kenya and Ghana, can now send and receive bitcoin (BTC) without a smartphone or Internet connection. Machankura catalyst Kgothatso Ngako discusses how the digital wallet startup is making it happen by tapping into the Bitcoin Lightning network. Plus, insights on bitcoin adoption in Africa.
Nigeria to Recognize Crypto as Investment Capital: Report
A proposed bill will lay out crypto supervisory powers of the Central Bank of Nigeria and the country's securities regulator, an official has said.
