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    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

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    Flutterwave Defies Global Layoffs, Hire 200 more Staff

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    ECWA Partners with Bitnob to Raise Charity

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    Sudo Africa appoints Farida Kabir as Group Head of Growth

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    How MTN Nigeria is Aiding National Evolution

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    Understanding nHub’s Build Back Better Strategy

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    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

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    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

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    Is Africa Ready to Operate a Digital Monetary Policy?

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    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

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    How Blockchain can Transform the Financial Ecosystem in Nigeria

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    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

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    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

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    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    The Federal Government Will No Longer Tolerate the Importation of SIM Cards — Pantami

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    ECWA Partners with Bitnob to Raise Charity

    ECWA Partners with Bitnob to Raise Charity

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Sudo Africa appoints Farida Kabir as Group Head of Growth

  • FEATURED
    How MTN Nigeria is Aiding National Evolution

    How MTN Nigeria is Aiding National Evolution

    Understanding nHub’s Build Back Better Strategy

    Understanding nHub’s Build Back Better Strategy

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Harnessing the Potentials of Social Media to Grow SMEs in Nigeria

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    Against all odds, African female-led tech startups are raising funds

  • BLOCKCHAIN
    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

  • FINANCE
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

  • START UPS
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

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Home News

Despite Crypto Ban, Twitter Boss Believes Nigeria Will Lead in Bitcoin Transactions

by Shalom Oyero
June 16, 2021
in News
Reading Time: 3 mins read
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Several days earlier, the Nigerian government had suspended Twitter’s operations citing double standards and the persistent use of the platform for activities that were capable of threatening Nigeria’s corporate existence.

Despite this ordeal, Twitter’s Chief Executive Officer, Jack Dorsey on Sunday, June 13, 2021, tweeted in response to an open letter written by American footballer Russell Okung in Bitcoin Magazine to President Muhammadu Buhari stating that Nigeria will lead the way for the largest cryptocurrency –Bitcoin, despite the ban by the Central Bank of Nigeria on financial institutions participating in its trade.

In his letter, Okung asked the government to adopt a national Bitcoin standard or stand the risk of falling behind in achieving economic independence and financial stability . His letter had gotten a lot of positive comments and retweets.

“It is no secret that the current global economic environment is worrisome and unsustainable. Sadly, the fate of the Nigerian economy is in the hands of the global central bankers who do not represent the best interests of the Nigerian people. Despite the challenges we face, the resilience of Nigerians continue to inspire”, he wrote.

Okung also stated that Iran, Russia, China and Kenya are already mining and utilizing Bitcoin as a means to circumvent U.S sanctions which prevent them from full participation in the global financial system. Currently, El Salvador, a country in Central America is the first nation in the world to accept Bitcoin as a legal tender.


Despite the government’s action in relations to the ban many Nigerians still found alternative ways of buying and selling cryptocurrencies. The Central Bank of Nigeria (CBN) had recently announced that it will launch its own digital currency before the end of the year.

Saturday, June 12, 2021, Nigeria celebrated her Democracy Day and a protest was held in several states across the country to plead against bad governance by its leaders. The protest, therefore, gained worldwide attention from world leaders and celebrities who tweeted showing their support. Dorsey showed his support to the protest and proposed donations to protestors in bitcoin.

Also, Ray ‘Uwaifo’ Youssef, Chief Executive Officer-Paxful also tweeted saying “the energy in Nigeria will transform the world. The youths have already begun building a pan African financial settlement layer using bitcoin and nothing can stop peer to peer. Africa is leading the new world of finance and crypto adoption”

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