#Nigeria

Nigeria

Here are some recent news related to Nigeria:

→ Nigeria Restricts Access to Binance, Coinbase, Kraken;

→ Nigeria Detains Binance Executives;

→ Binance Nigeria Moved $26B Worth of Untraceable Funds in 2023, Central Bank Chief Says;

→ Nigeria goment demands $10 billion in damages from Binance;

We decided to find out why so much attention is being paid to this seemingly unremarkable African country and we have to admit we were a bit surprised:

Here are a few facts:

• Nigeria was the first country in Africa to launch CBDC e-Naira back in October 2021;

• Nigeria ranks #1 in the world in cryptocurrency adoption among adults. 56% of percent of adults trade crypto at least once a month. 2nd place is Turkey with 54%, 3rd - Pakistan with 44%, 6th - UAE with 34%, 9th - Russia with 29%.

• Nigeria was a British protectorate until its independence on October 1, 1960;

• 2nd place in Africa (39th in the world) after Egypt in terms of GDP (nominal), ahead of Portugal, Finland and Kazakhstan;

• 27th in the world in GDP (PPP - purchasing power parity). Ahead of the Netherlands, Argentina and Switzerland;

• 1st in Africa (6th in the world) in terms of population. 230 million people;

• Nigeria is a leader in Africa as an energy power, financial market, in pharmaceuticals and in the entertainment industry;

• Nigeria is the 15th largest producer of petroleum in the world, the 6th largest exporter, and has the 9th largest proven reserves.

Nigeria also has the 9th largest proven natural gas reserves.