Local firms have struggled to adapt to the regulatory environment and the dynamics of an unpredictable market
The government’s sudden ban of Twitter could jeopardise one of the country’s most promising industries
Nigeria’s central bank has repeatedly warned against the risks of investing in cryptocurrencies and even ordered local banks to close accounts trading in them.
On 5 February Nigeria’s central bank banned crypto transactions, but industry analysts are confident the sector will find a workaround.
Six bankers have been charged with fraud in a R480-million currency switching scam, a ‘systematic scheme’ that had been running for years.
The IMF will update its global economic outlook this week, while investors look at a rates decision in Nigeria and inflation numbers in South Africa.
The central bank of Nigeria has felt the effects of its decison to relax the weekly limit on trading in dollars.
