nigeria-crypto-ban-web3africa

Is Crypto Legal Again? Unpacking the Nigeria Crypto Ban Reversal

TL;DR,     The Nigeria crypto ban is officially lifted following a period where P2P inflows hit $59 billion, though new regulations strictly control how licensed firms interact with banks. Nigeria’s crypto rules have evolved from blanket banking exclusions to a dual‑regulator framework where CBN and SEC license VASPs, tax capital gains, and force naira‑only,…

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enaira-cbdc-nigeria

CBN Deputy Director Explains NFC Integration for Digital Currency

TL;DR, Nigeria’s Central Bank introduces NFC payment technology to the eNaira CBDC app, aiming to boost adoption rates after the digital currency’s disappointing performance since its 2021 launch. The CBN’s new NFC integration allows contactless payments through proximity-based transactions, featuring tokenization security and programmable restrictions to prevent fraud. Despite privacy concerns and cybersecurity risks associated…

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