Nigeria's central bank digital currency, introduced to modernize the financial system but facing low adoption.
Nigeria Moves to Regulate Stablecoins to Boost Fintech and Safeguard Monetary Stability
The Nigerian government is establishing a regulatory framework for stablecoins. A working group led by the Central Bank of Nigeria (CBN) is tasked with integrating stablecoins into the economy.
Startups grew, but not because of him: How Muhammadu Buhari shaped Nigeria’s tech ecosystem
Muhammadu Buhari served as Nigeria's president from 2015 to 2023 and has died at the age of 82. Under Buhari's presidency, Nigeria's tech startups raised over a billion dollars by 2022, marking a significant growth in the tech ecosystem.
Nigeria’s Rise as a Blockchain Powerhouse
Nigeria ranks among the top ten globally for cryptocurrency adoption, with $59 billion in cryptocurrency value received between July 2023 and June 2024. The youthful demographic, with over 60% of the population under 25, is a key driver of blockchain adoption.
“Regulated blockchain is the next step of evolution in financial services” — Zone’s Obi Emetarom
Mohammed Idris published an opinion piece on Cointelegraph advocating for blockchain technology in Nigeria. Nigeria launched the eNaira, Africa's first Central Bank Digital Currency, in 2021.
CBN introduces new workflow and Naira payment solution to boost efficiency
The CBN launched DocFlow, a digital document management system to replace paper-heavy processes. Governor Olayemi Cardoso introduced the new digital solutions at the bank's headquarters in Abuja.
