Nigeria's economic situation
Posted: Sat Aug 14, 2021 2:07 pmNigeria’s adoption and rates of cryptocurrency trades have continued to rise despite staunch opposition from the government.
Last week, UsefulTips reported that nearly $40 million worth of Bitcoin was traded in the last 30 days by Nigerians and On Google trends, Nigeria continues to top on searches for Bitcoin.
Though the Central Bank banned the trades of digital currencies in February, claiming the decision was made to protect Nigerians from the volatility of the market, it turned around to announce a trial run of its own digital currency from October.
The CBN last year, at the height of the #EndSARS protests, restricted financial institutions from receiving or making crypto payments.
Last week, UsefulTips reported that nearly $40 million worth of Bitcoin was traded in the last 30 days by Nigerians and On Google trends, Nigeria continues to top on searches for Bitcoin.
Though the Central Bank banned the trades of digital currencies in February, claiming the decision was made to protect Nigerians from the volatility of the market, it turned around to announce a trial run of its own digital currency from October.
The CBN last year, at the height of the #EndSARS protests, restricted financial institutions from receiving or making crypto payments.