According to a report by Ijeoma Ndukwe, #Bitcoin 's current trading volume in #Nigeria is more than any other market in the world, thereby reflecting people's loss of confidence in the system. current financial system.
On October 25, 2021, Nigerian President Muhammadu Buhari announced the release of the country's new digital currency called #eNaira in the context that Africa's largest economy is making efforts to advance. into the field of virtual currencies and cryptocurrencies are becoming increasingly popular.
Speaking at the ceremony to announce the eNaira digital currency, Mr. Buhari said Nigeria is the first country in Africa and one of the first countries in the world to issue electronic currency widely to the public.
âWe have witnessed the emergence of a new era through the Internet. [âŠ] The central bank should be the first to initiate this development.â
Mr. Buhari affirmed that the new digital currency will help improve cross-border trade, bring more financial solutions to workers in informal sectors and increase remittances.
At the NairaEX and Quidax exchanges, people can buy and sell Bitcoin with Nigerian Naira (NGN).
Nigeria's Bitcoin premiums increased after the Central Bank of Nigeria (CBN) recently imposed limits on ATM cash withdrawals in the country as part of its efforts to promote a cashless economy.
