Cryptocurrencies have undergone substantial development since the inception of Bitcoin in 2009, driven by the necessity for decentralized, transparent,
The Nigerian Interbank Settlement System is key to the stability and efficiency of financial transactions in a complex and dynamic terrain like Nigeria’s. Over the years, NIBSS has participated substantially in the digital transformation of Nigeria’s banking sector, guaranteeing easy and secure interbank settlements and promoting a culture of dependability and trust within the system.
The National Blockchain Policy for Nigeria aims to maximize the benefits of Blockchain Technology for the development of the country, laying a solid foundation to achieve its potential in various sectors of the economy
The evolution of financial payment systems in Nigeria reflects the country's commitment to modernizing its financial infrastructure and promoting financial inclusion.
Digital banking has provided a more accessible means of financial transaction as opposed to traditional banking. The traditional banking model relied on physical branches and personal interactions between customers and bank employees. This model has been challenged by digital banks, which have no physical branches and rely on digital technologies to offer financial services.
With the high amount of people interacting with digital assets daily; either from investing in crypto or the Digitization of existing investment assets, the digital assets market is becoming integrated into the existing fabric of traditional financial markets.
Blockchain is said to have the ability to significantly change our current economy and society since it will serve as the foundation of the "Internet of Value" in the future.
A Securities Token Offering means any offering and sale of digital tokens that are considered securities. This should be differentiated from an Initial Coin Offering, which means a distributed ledger technology capital-raising, involving the issuance of tokens to the general public in return for cash, cryptocurrencies or other assets.
Nigeria recorded an impressive adoption of digital currency before the ban on banks and other financial institutions, due to the threat trading and the use of cryptocurrency posed at that time. This was based on the fact that it was an uncharted arena in Nigeria, with no regulation safeguarding the citizens and residents from the issues or challenges facing the adoption and use of digital assets/ currency.
