134 of the MPC Meeting - Jan 25-26, 2021. Nigerian Newspapers: 10 things you need to know this Monday morning, Nigeria to Niger rail: Amaechi avoids question on $1.9bn loan repayment, Yoruba leaders storm Ibadan, demand Oduduwa Republic [PHOTOS], Calls for sack of Finance Minister, Zainab Ahmed thickens as CBN admits printing money, Printing of N60bn by CBN, wake up call for Buhari, APC – PDP warns. Because the total number of Bitcoins that would ever be issued is fixed (only 21 million will ever be created), new issuances are predetermined at a gradually decelerating pace. For one circular wey Central Bank of Nigeria release over di weekend, CBN ay dem go through commercial banks, pay those wey dey receive di dollar, di five naira [N5] awoof alias incentive for every USD$1". Revisiting CBN’s ban on cryptocurrency. Tori be say to see dollar take do international transaction for Nigeria belike headache sake of di many challenges wey dey di economy and again as tins be so di Central Bank dey desperate for dollar inflow into di economy so dat di kontri foreign reserves go increase. In the last days, the church will be reigning in power and glory. Bishop David Oyedepo of the Living Faith Church, has said he won’t take the COVID-19 vaccine. “But it is regrettable that anything goes in Nigeria, because of our penchant for illegalities. The statement said this was evident from the variety of participants, products, channels, cutting-edge technology in the payments system. Omowumi Ogunlola, has appealed to executive to always treat the judiciary and legislature as partners. The SEC … He said China, Canada, Taiwan, Indonesia, Algeria, Egypt, Morocco, Bolivia, Kyrgyzstan, Ecuador, Saudi Arabia, Jordan, Iran, Bangladesh, Nepal and Cambodia have all 8. Di CBN "Naira 4 Dollar Scheme" go start from Monday 8th March 2021 to Saturday 8th May 2021″. The Securities and Exchange Commission (SEC) is working with the Central Bank of Nigeria (CBN) on the regulation of cryptocurrency. “Mr. According to Oyedepo: “I have never seen a generation where you force people to take vaccines. “One woman just got down after that injection in Kaduna. Revisiting CBN’s ban on cryptocurrency. placed certain level of restrictions on financial institutions facilitating cryptocurrency transactions. In fact, the global cryptocurrency scene hit a rough patch in 2019 as prices crashed. 10. The Securities and Exchange Commission (SEC) has revealed that it is working with the Central Bank of Nigeria (CBN) for a better understanding and regulation of cryptocurrencies in the country. Investors only buy in the hope that its use and acceptability will rise, thereby pushing up its demand and price.But since new versions of cryptocurrencies come on stream with new mathematical models, an infinite supply may someday crash the price to zero. To better understand dis tori, for example, wit dis new CBN "Naira 4 Dollar Scheme", if someone send you $50,000, you fit get an additional special credit alert for N250,000 naira as awoof. Nigerians wey get business or relatives abroad dey do dollar transaction to Nigeria through International Money Transfer Organizations. 134 of the MPC Meeting - Jan 25-26, 2021. 11. De way wey we de take go external link. This is far greater volatility than is found with normal currencies. My job is to expose the devil and tell his agents, ‘get off, we are not guinea pigs.”, Click to share on WhatsApp (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Telegram (Opens in new window). Let me see someone who will come and inject me. This healthy growth reflects a combination of the CBN's higher loans-to-deposit ratio of 65% since December 2019 for deposit money banks (DMBs) and the steady expansion of its own development finance activities. Nigeria Diaspora remittance alias hard currency like dollars wey flow into Nigeria in 2019 stand at $21bn according to World Bank. Did you see any outbreak of virus here? The Central Bank of Nigeria (CBN) has reacted to condemnations trailing the directive to Deposit Money Banks (DMBs) to desist from transacting in cryptocurrencies. “More also, repeated and recent evidence now suggests that some cryptocurrencies have become more widely used as speculative assets rather than as means of payment, thus explaining the significant volatility and variability in their prices. “The reverse would be true if the conglomerate does not innovate to improve the quality of its goods/services. 8. From Monday, CBN go pay Nigerians abroad extra Naira for remitting dollars back home. Nwanisobi said even famed investor Warren Buffett has called cryptocurrencies “rat poison squared,” a “mirage,” and a “gambling device.”. The bank said this in a statement on Friday. Will it come through the air? Let us now turn to some of the justifications for CBN’s recent policy reminder. How? In fact, the role of cryptocurrencies in the purchase of hard and illegal drugs on the darknet website called “Silk Road” is well known. A perfunctory Are human beings now turned to guinea pigs? Dis latest move belike an attempt by Central Bank of Nigeria to attract dollar remittances by all means possible, but CBN no dey see dis short-term Naira-4 … On the 5th of February 2021, the Central Bank of Nigeria (CBN) [i] released a letter addressed to banks and other financial institutions which stated that dealing in cryptocurrencies and facilitating payment for cryptocurrency exchanges are prohibited. Let us now turn to some of the justifications for CBN’s recent policy reminder. Dis one make kontri pipo begin panic say goment go devalue di naira. Even though wetin experts bin predict show say di remittance for fit rise to $27.66bn in 2020, experts believe say di economy for no fit meet dat target due to di impact of di COVID-19 pandemic. The ever-present, yet, ambiguous nature of cryptocurrency as a means of exchange among other transactions has made it difficult for financial regulators to accept crypto financing as a standard in the financial market.. On February 5, 2021, Nigeria, through its central bank banned the use of cryptocurrency and offenders to face grave penalties due to the perceived dangers to both end-users … “Indeed, many banks and investors who place a high value on reputation have been turned off from cryptocurrencies because of the damaging effects of the widespread use of cryptocurrencies for illegal activities. The unfortunate thing now is that our laws are no longer respected. 10. On the air continuously since 1966, The 700 Club is one of the longest-running programs in broadcast history. The CBN Governor said that the current yearly Diaspora remittances into the country is about $24 billion and this policy could help in improving the balance of payment position, reduce dependence on external borrowing and mitigate the impact of COVID-19 on forex inflows into the country. The Securities and Exchange Commission (SEC) has revealed that it is working with the Central Bank of Nigeria (CBN) for a better understanding and regulation of cryptocurrencies in the country. He recalled that all banks in the country had earlier been forbidden, through CBN’s circular dated January 12, 2017, not to use, hold, trade and/or transact in cryptocurrencies. CBN said the system was validated by the astronomical growth of volume/value of transactions and the fact that Nigeria is an investment destination of choice for international financial technology companies because of CBN’s policies that have created an enabling investment environment in the payments system. 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