#EndSARS

Central Bank of Nigeria Denies It Has Placed New Restrictions on Cryptocurrencies — Uses Debunked Claims to Justify New Directive

<div class=”featured_image_container”> </div> <strong>Following the outcry over the Central Bank of Nigeria’s latest directive that targets cryptocurrencies, the institution has reaffirmed its stance with another statement. In the latest five-page document, the CBN insists that this directive is intended to protect the country’s financial system from the “risks” that are associated with cryptocurrencies. </strong> Debunked …

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Central Bank of Nigeria Orders Banks to Close Accounts of Crypto Clients

<div class=”featured_image_container”> </div> <strong>The Central Bank of Nigeria (CBN) has circulated a letter directing banks and financial institutions to identify and close accounts of cryptocurrency transacting entities. The directive, which took immediate effect, threatens “severe regulatory sanctions” to financial institutions that fail to comply.</strong> Banks Taking Immediate Action Immediately following the letter’s publication, some banks …

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Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/424769″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/11/728-by-90-2x-1-9.png” alt width=”728″ height=”90″></a></div><strong>A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. </strong> According to Lasebikan, the Central Bank of …

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Discovering Bitcoin Through the #EndSARS Movement, Feat. Yele Bademosi & Akin Sawyerr

When the Nigerian government shut down EndSARS protestors’ bank accounts, bitcoin and crypto became a way around. Yele Bademosi is CEO at Bundle social payments app and the founder of investment firm Microtraction. Akin Sawyerr is involved across the industry and leads operations at BarnBridge.  Over the course of October 2020, the world’s attention became …

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