Nigeria

Nigeria Continues Crackdown on Cash Economy
Nigeria Continues Crackdown on Cash Economy
January 05, 2023  |  Cash

Nigeria will ban cash withdrawals from government accounts from March 1. Modibbo Tukur, the chief executive of the Nigerian Financial Intelligence Unit (NFIU) said the...

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Central Banks Pursue CBDCs in 2023 but Diverge on Design
Central Banks Pursue CBDCs in 2023 but Diverge on Design
January 02, 2023  |  CBDC

Central banks around the world have diverged in the design of CBDCs. As the investigation phase of the European Central Bank’s (ECB) digital euro project...

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Digital Bank Gomoney Launches ‘Split Bill Feature’ in Nigeria 
Digital Bank Gomoney Launches ‘Split Bill Feature’ in Nigeria 
December 28, 2022  |  Digital Banking

Digital bank Gomoney now offers a “split bill feature” for its customers in Nigeria.  The firm said this feature makes it easier for multiple users...

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Platforms Give Nigerians Access to Less Volatile Foreign Investments
Platforms Give Nigerians Access to Less Volatile Foreign Investments
December 13, 2022  |  Investments

African FinTech platforms that connect investors to international markets are on the rise. Leading the charge are a handful of Nigerian startups that have built...

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Nigeria Cuts ATM Cash Withdrawals and Urges eNaira Use
Nigeria Cuts ATM Cash Withdrawals and Urges eNaira Use
December 06, 2022  |  CBDC

The Central Bank of Nigeria has redefined ATM withdrawal limits to encourage digital currency usage. In a Tuesday (Dec. 6) press release, the CBN said...

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Nigerian Regulators Spurn Cryptocurrencies for Digital Assets That Protect Investors
Nigerian Regulators Spurn Cryptocurrencies for Digital Assets That Protect Investors
November 27, 2022  |  Cryptocurrency

Despite the popularity of cryptocurrencies in the country, the Securities and Exchange Commission (SEC) of Nigeria has no plans to make crypto part of its...

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Remittance Firms Jostle for Dominance in Competitive UK-Nigeria Corridor
Remittance Firms Jostle for Dominance in Competitive UK-Nigeria Corridor
November 14, 2022  |  Cross-border Payments

Nigerians living in the U.K., — approximately 178,000 as of last year per the Office for National Statistics — have consistently ranked among the top...

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Nigeria’s SMEs Boost Traffic and Cut Fraud With Cardless Transfers
Nigeria’s SMEs Boost Traffic and Cut Fraud With Cardless Transfers
November 10, 2022  |  Payments Innovation

Card payments, as ubiquitous as they may appear, are actually not the preferred payment method in certain markets. Take the case of Nigeria, for example....

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Nigerian Money App Kuda Launches in UK
Nigerian Money App Kuda Launches in UK
November 09, 2022  |  Cross-border Payments

The Nigerian money app Kuda, announced Wednesday (Nov. 9) that it is launching in the U.K. as part of a global expansion drive with a...

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