Nigeria’s Cryptocurrency Explosion: An End Run Around the Central Bank’s Crypto Ban

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Cryptocurrency has rapidly expanded its influence worldwide over the past few years, positioning itself as a more secure, less costly alternative to traditional banking and payment systems, as well as a highly profitable investment alternative. And nowhere has it gained more acceptance than with the Nigerian public. Indeed, a larger percentage of Nigerians hold cryptocurrency than in any other country. Q2 2021 hedge fund letters, conferences and more The government, however, does not share the population’s enthusiasm for cryptocurrency. Since 2017, the Nigerian Central Bank has waged war again…

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