Thread by @MattAhlborg on Thread Reader App
https://threadreaderapp.com/thread/1439950511164301322.html
"The informal #Nigeria 🇳🇬 #Naira has lost 23% of its value against #USD since the start of the year, a staggering number for #Africa's largest currency."
"What has happened to Venezuela and what is happening to Nigeria is something that will begin to happen to the MAJORITY (over 100) of emerging market currencies over the next 10 years as technological penetration deepens."
Nigeria Devalues Naira on Migration to Single Exchange Rate
"[CBN] replaced the fixed rate of 379 naira to a dollar used for official transactions with the more flexible nafex [~410/$]."
"The fragmented foreign-exchange market had been a cause of confusion and a source of arbitrage.”
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Dollar to Naira Black Market Rate: ₦486.00
https://www.ngnrates.com/market/exchange-rates/us-dollar-to-naira/black-market
#Bitcoin 
#Nigeria #CentralBank #CBN #NGN #Naira #USDNGN #BlackMarket #ExchangeRate #ForeignCurrency #Nafex
Nigeria 🇳🇬 CBN needs foreign currency. The youth Have switched to #bitcoin remittances at a furious rate and their flow of USD and EUR fell by 98%. This same thing will happen everywhere but there is a way everyone can WIN! P2P
https://twitter.com/raypaxful/status/1377826794003427329
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RT @[email protected]
The CBN might prevent customers from accessing their dollar sav [...]
https://twitter.com/bernard_parah/status/1377821482114555905
#Bitcoin #Nigeria #Africa #Nigerian #naira #NGN #USDNGN #P2P #PeerToPeer #Pleb2Pleb #RayYoussef #paxful
Nigerians’ appetite for bitcoins grows despite ban
https://guardian.ng/news/nigerians-appetite-for-bitcoins-grows-despite-ban
"Many investors and traders are still in the business even though some Nigerians complained their bank accounts were closed due to the regulatory crackdown."
"The use of foreign accounts for #crypto purchase and a shift to peer-to-peer-enabled platforms have replaced the services of restricted #cryptocurrency #exchanges."
#Bitcoin #Nigeria #Africa #Nigerian #naira #NGN #USDNGN #P2P #PeerToPeer #Pleb2Pleb
When Nigerian office worker Chigoziri Okeke bought cryptocurrency for the first time in 2016, he was only looking to make an online payment. But the 10 percent gain on his wallet’s balance after a few days fired up the 27-year-old's interest.
Nigeria’s Central Bank Declares War on Bitcoin in a Losing Battle With the People
"One U.S. dollar now trades for 480 #naira. While the Central Bank of #Nigeria maintains an artificial #exchange rate of 1 dollar for 380 naira on the official market, no one in Nigeria is fooled."
"I am certain that the battle that the Central Bank of Nigeria has embarked on cannot be won."
#Bitcoin #Africa #Nigerian #CBN #NGN #USDNGN #P2P #P2PExchange #SSaurel #SylvainSaurel
Nigeria Cracks Down on Bitcoin Trading, Orders Bank Accounts Shuttered
https://decrypt.co/56762/nigeria-cracks-down-bitcoin-trading-bank-accounts
"The order doesn’t prevent the users of peer-to-peer #Bitcoin marketplaces such as #Paxful or #LocalBitcoins from buying and selling #crypto through means other than a #bank account, such as #GiftCards., which remain a popular option."
#Nigeria #Nigerian #FinancialInstitution #CentralBankOfNigeria #CBN #P2P #P2PTrade #P2PTrading #Exchange #P2PExchange #GiftCard #NGN #USDNGN $NGN $USDNGN
The Central Bank of Nigeria Warns Financial Institutions Against Facilitating Crypto Payments with Crypto Exchanges
https://bitcoinke.io/2021/02/cbn-warning-against-crypto-transactions
"[Banks and financial institutions] are directed to identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems & ensure that such accounts are closed immediately."
#Bitcoin #Crypto #Nigeria #Nigerian #Bank #FinancialInstitution #CentralBankOfNigeria #CBN #P2P #Exchange #NGN #USDNGN $NGN $USDNGN
KenyaCoin ☑️
P2P Bitcoin ☑️
