LAGOS FEBRUARY 28TH (NEWSRANGERS)-Governor of the Central Bank of Nigeria, Olayemi Cardoso, has disclosed that more than $26bn was channelled through a cryptocurrency platform, Binance, in the last one year. Cardoso disclosed this on Tuesday at a press briefing after the 293rd meeting of the Monetary Policy Committee in Abuja. The Binance exchange is a…
LAGOS JULY 3RD (NEWSRANGERS)-Many young Nigerians are adopting bitcoin amid the crypto ban put in place by the Nigerian Central Bank. In fact, since the start of 2021, peer-to-peer bitcoin trading has grown to $204 million, the largest amount in Africa. Data collated from Usefultulips, a Bitcoin analytic provider, shows Nigeria dwarfs the rest of…
LAGOS MARCH 1ST (NEWSRANGERS)-More cryptocurrency trading goes on in Nigeria than almost anywhere else in the world, reflecting a loss of faith in more traditional forms of investment, as Ijeoma Ndukwe reports. Tola Fadugbagbe recalls moving to Lagos from his small south-western town 10 years ago with dreams of brighter prospects. Instead, the 34-year-old ended…
LAGOS FEBRUARY 14TH (NEWSRANGERS)-The price of Bitcoin has increased by 20 per cent in the last seven days, setting a new all-time high record of $47,251 on Friday, data from coinmarketcap.com showed. Within this period, Bitcoin experienced a low of $37,446 and a high of $48,464, before settling at $47,251 on Friday. It fell to…
LAGOS FEBRUARY 12TH (NEWSRANGERS)-The Senate has mandated its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes and Capital Market to invite the Governor of the Central Bank of Nigeria, Godwin Emefiele to brief it on the recent ban on cryptocurrency in the country. The Senate also invited the Director General of the…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-Finance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. The CBN letter told local banking institutions that dealing in cryptocurrencies…
LAGOS MAY 25TH (NEWSRANGERS)-A criminal gang, which kidnapped a teenage boy on Sunday, is demanding a ransom in bitcoin cryptocurrency of nearly $120,000. Police spokesperson, Leonard Hlathi said Katlego Marite, 13, was dragged into a car while playing with two friends near his home in Witbank. The town is located in the eastern province of…
LAGOS MARCH 9TH (NEWSANGERS)-Bitcoin’s price tanked to under $10,000 on Wednesday amid fears that a major exchange had been hacked and new regulatory warnings from U.S. authorities. The cryptocurrency’s value fell to half that of three months ago, when it reached a whopping $20,000 per coin. But it remains volatile, and the bitcoin price reacted…
