Africa

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Nigerian Blockchain Group Ousts President, Who Remains Defiant

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The Stakeholders in Blockchain Association of Nigeria (SIBAN) expelled its president, Obinna Iwuno, for allegedly registering an illegal body and misusing his position. Iwuno denied these allegations and accused the SIBAN board of trustees of acting unlawfully. Despite the expulsion, Iwuno claimed to remain SIBAN’s president. The SIBAN board warned others to avoid dealing with … Read more

Nigeria Resumes Dollar Sales to Money Changers Amid Naira’s Decline

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The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira. This decision came after the naira-to-dollar exchange rate dropped to a low of NGN1,639 per dollar, likely due to increased demand for US dollars for travel and business. The central bank has outlined rules for … Read more

Mansa Partners With Nigerian Blockchain Platform Bitmama to Boost Cross-Border Payments

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The Nigerian blockchain payment platform Bitmama has partnered with the decentralized finance platform Mansa to improve cross-border payment accessibility in Africa. This partnership aims to enhance consumer payment capabilities and support trade across borders. Mansa’s liquidity solution has reportedly already helped foster financial inclusion in other regions. Bridging the Funding Gap The Nigerian blockchain payment … Read more

Nigerian Blockchain Leader: Approval of 2 Crypto Exchanges Brings Much-Needed Regulatory Clarity

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A Nigerian blockchain industry leader has described the recent approval of two crypto exchanges by the securities regulator as a positive step that improves the image of Nigeria’s crypto space. The leader believes clear regulations will attract foreign investors and benefit Nigerian entrepreneurs. He also urged Nigeria to follow the rule of law regarding the … Read more

Nigerian Civil Society Groups Praise Crypto Tax Proposal

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A coalition of Nigerian civil society organizations has applauded the plan by Zacch Adedeji, head of the Federal Inland Revenue Service, to include cryptocurrencies in the tax system. The CSOs believe this move will boost confidence in the crypto market and attract foreign investors. The CSOs believe a regulatory framework specifically designed for cryptocurrency trading … Read more

Nigerian Central Bank Affiliate Partners With Blockchain Startup Zone to Boost Payments

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The Nigeria Inter-Bank Settlement System (NIBSS) has partnered with Zone, a decentralized payment infrastructure company, to improve its payment services. NIBSS will use Zone’s blockchain technology to streamline its Payment Terminal Service Aggregation (PTSA) operations. Both NIBSS and Zone believe that blockchain technology can revolutionize the financial sector and enhance regulatory oversight. NIBSS Enhances Payment … Read more

Binance Launches Mobile Money Feature for Crypto Transactions in Africa

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Crypto exchange Binance has launched its One Click Buy and Sell (OCBS) service in Africa, enabling users in Ghana, Tanzania, Uganda, and Zambia to buy and sell cryptocurrencies via mobile money accounts. This initiative aims to enhance financial inclusion, particularly for the unbanked and underbanked populations. Binance Expands Services in Africa, Boosting Crypto Accessibility Cryptocurrency … Read more

Experts Question Ghana VP’s Gold-Backed Currency Pledge

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A Ghanaian banking consultant, Richmond Atuahene, has expressed concerns about Vice President Mahamudu Bawumia’s pledge to back the cedi with gold. Atuahene believes Ghana needs a stable economic environment before implementing this policy. John Gatsi, a dean at the University of Cape Coast School of Business, warns that backing the cedi with gold alone will … Read more