Today on #TechpointDigest, @OnomeOneyibo discusses #InternationalDayOfTheGirl, @ourpaydayHQ’s pre-seed, Nigeria’s bread scarcity, and Netflix’s Squid Game
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On February 5, the Central Bank of Nigeria (CBN) issued a ruling instructing all financial institutions to stop the facilitation of all transactions involving cryptocurrencies. It also goes further asking all the regulated bodies to identify individuals or organizations engaging in cryptocurrency transactions within their system and shut down their accounts with immediate effect. Finally, the circular note that failure to adhere to the directives will attract severe regulatory sanctions on the part of the regulated entity.
Let’s face it, cryptocurrency is a big deal in Nigeria. In the last couple of years, there has been astronomical growth in cryptocurrency trading in the country. Nigeria is Africa’s largest cryptocurrency marketplace and second only to the United States in Bitcoin trading volume in the world. According to data from QZ Africa,