CRESTHUB
CRESTHUB MAGAZINE
  • NEWS
    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

  • PODCAST
CRESTHUB
  • NEWS
    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

  • PODCAST
No Result
View All Result
CRESTHUB
No Result
View All Result
Home BLOCKCHAIN

Nigerian Digital Currency to be Launched – Godwin Emefiele, CBN Governor.

by Cynthia Chukwuma
May 27, 2021
in BLOCKCHAIN
Reading Time: 2 mins read
0
Share on FacebookShare on Twitter

Recent development has it that Godwin Emefiele, The Central Bank of Nigeria Governor, on Tuesday, disclosed that Nigeria is looking to launch its first digital currency. Following this news, the Nigerian government seeks to monitor nations with existing digital currencies and those with plans of creating one.
As expected, China is one of such nations set to release its digital currency, e-yuan at scale by year end.

“We are committed in the CBN, and I can assure everybody that digital currency will come to life even in Nigeria”, said the CBN Governor during the 279th Money Policy Rate (MPR) held in Abuja as reported by Nairametrics.

In his words, “We have carried out our investigation and we have found out that a substantial percentage of our people are getting involved in cryptocurrency which is not the best. Don’t get me wrong, some may be legitimate but most are illegitimate. Under cryptocurrency and Bitcoin, Nigeria comes 2nd while in the global side of the economy, Nigeria comes 27th. We are still conducting our investigation and we will make our data available.”

Showing concerns surrounding digital assets using the CEO of Tesla, Elon Musk’s uncertainty as an example, the CBN Governor went further to say, “We saw the market collapse. Initially, when Elon Musk tweeted around the time when we said our banking and payment facilities are no longer available for cryptocurrency transactions and he tweeted that he will invest $1.5 billion and the price of Bitcoin went up. He now tweeted and raised a few concerns and the thing plunged.”

This is a great development and we believe something good is about to hit the Nigerian crypto space.

Related

Tags: BlockchainCentral Bank Of Nigeria
Previous Post

The 1st Nigerian Teen Cyber Festival to Hold in Jos

Next Post

Kuda Technologies Reaches Its One Million Customer Milestone

Next Post

Kuda Technologies Reaches Its One Million Customer Milestone

This Foundation is Bridging the Tech Talent Gap in Hearing Impaired Communities on the Plateau

Please login to join discussion
No Result
View All Result

CRESTHUB MAGAZINE

Popular Posts

  • Flutterwave Defies Global Layoffs, Hire 200 more Staff
  • How Yuorit Yoghurt Achieved Business Success Through Social Media
  • The Hub: How Vendors can Drive Sales using Social Media
  • Inside Stakefair’s No-Loss Betting Platform
  • How Microsoft is building Strong Foundations for a Digital Economy in Nigeria

Cresthub

Learn, Start and Grow your Business with Innovative Business Solutions at Cresthub.

Company

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

Products

  • Cresthub Magazine
  • Cresthub Podcast
  • Cresthub Insight

Socials

Facebook Twitter Youtube
  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

© 2022 Cresthub Media

No Result
View All Result
  • NEWS
  • FEATURED
  • BLOCKCHAIN
  • FINANCE
  • START UPS
  • PODCAST

© 2022 Cresthub Media

Cresthub newsletter
THE WEEKLY ROUND UP

Join our newsletter to get first hand insight in tech and start up happenings in Nigeria and Africa at large.

Enter your email address