What is Halal? Any business, action, or food permissible in Islam is known as halal. To describe a business as halal means that Muslims can engage in it. Such businesses are not forbidden (haram). Haram is the opposite of halal. Meaning of Haram Haram is the opposite of halal. Anything that is unlawful and prohibited … Read more
The Central Bank of Nigeria, on February 5, 2021, shocked a lot of people when it ordered all financial institutions in the country to stop the facilitation of all transactions involving cryptocurrencies. And as if that was not enough, the apex bank asked regulated agencies in the system to identify persons or organizations that are … Read more
Different types of exchanges exist in the cryptocurrency world, with different features and functionalities. We have those that can be regarded as “custodial exchanges”. These platforms, which are also known as centralized exchanges, were structured to have control over the assets of their users. Usually, such platforms have KYC guidelines in place that their users … Read more
The rise of blockchain technology has been met with different reactions across the world, most especially from Central Banks of different jurisdictions. Most of them are not comfortable with how cryptocurrency is disrupting the banking industry. Do banks have roles to play in the crypto-financial sector? Already, leading cryptocurrencies such as bitcoin and Ethereum, have … Read more
Remitano Network Coin (RENEC) isn’t for sale, meaning you can neither buy nor sell the coin. The global peer-to-peer cryptocurrency exchange platform categorically made it known that “All activities that buy or sell RENEC at the moment are fraudulent” because the coin isn’t listed on any crypto-tracking website When a cryptocurrency platform issues an Initial … Read more
Instead of introducing cryptocurrency regulations, the Nigerian government, through its apex bank, issued an autocratic directive on February 5, 2021, instructing financial institutions to block all accounts involved in virtual currency transactions. As a result, several accounts were frozen, and many individuals lost millions of Naira. However, the anti-crypto policy has failed to stamp out … Read more
There are several platforms that make it easy and seamless to purchase cryptocurrency in Nigeria, even when there are some forms of restrictions from the central bank. Is Cryptocurrency Legal in Nigeria? On February 5, 2021, the Central Bank of Nigeria (CBN) rolled out its first-ever anti-crypto policy, instructing financial institutions to close bank accounts linked … Read more
Bitcoin and other cryptocurrencies were established to bring about a new and secure means of transaction, free from bankers and brokers. But, as this technology becomes more popular across the world, many people are now becoming uneasy with the idea of being the only ones with access to their online investments. Investors are realizing that … Read more
Bitcoin hit $61,183 (NGN34,989,273.30) for the first time in six months on Friday, October 15, 2021, as the United States’ body language shows that it may approve the launch of an exchange-traded fund based on its futures contracts. Usually, policies of major economies like China, USA, South Korea, Japan determine how the market reacts. For … Read more
The price of Bitcoin has spiked to NGN33,777,567.30, a few weeks after China announced the ban of cryptocurrency, although it reacted to the shock, it was momentary. Also, the new spike may also be as a result of a report by Bloomberg that the U.S. Securities and Exchange Commission didn’t oppose the launch of a futures-based Bitcoin exchange-traded fund … Read more