A ban on crypto exchanges

Here’s how Nigerian cryptocurrency exchanges are responding to CBN’s Ban

Features, FinTech

19th February 2021

Two weeks ago, the Central Bank of Nigeria (CBN) requested that banks and other financial institutions close the accounts of cryptocurrency exchanges in the country, causing a ruckus. Its reasons (which have since been countered) were focused on how crypto is used for fraudulent purposes and the anonymity of crypto users. It’s important to note […]

Cryptocurrency exchanges move funds from banks on the back of new CBN regulations

Features

Olumuyiwa Olowogboyega

5th February 2021

The new regulations mean that you will not be able to use a card from a Nigerian bank or any other financial institution in the country to process any transactions on a crypto exchange. In a nutshell, while virtual currencies remain legal, trading them through an exchange in Nigeria is near impossible.

More From TC

How to register for Covid vaccination in Nigeria

Healthcare

Bright Azuh

2nd March 2021

The wait to be vaccinated against the coronavirus is finally over for Nigerians. Nigeria has just received a total of 3.92 million doses of the AstraZeneca vaccine today, March 2nd. Following this development, the National Primary Health Care Development Agency (NPHCDA) launched an online portal and announced the guidelines for registrations. How to register Registration […]

Lease terminations & building audits: What’s happening at Fibre.ng?

Features

Olumuyiwa Olowogboyega

2nd March 2021

Last week, a few tenants who rent residential spaces with Fibre.ng told TechCabal that they had received lease termination notices.
Here’s what happening at the proptech startup

Nigeria gets its first batch of the COVAX COVID-19 vaccine

News

Nel Ibuola

2nd March 2021

When Nigeria’s 2021 budget projection was made and planning for the COVID vaccine was missing, it was unsettling for many of its citizens. A group of prominent Nigerians came together under an umbrella they called Coalition Against COVID (CA-COVID). With members like Jim Ovia, Aliko Dangote, Tony Elumelu, amongst others, the coalition promised in January […]

This Ugandan startup will give you $2,000 for an ‘Afro-centric’ eyeglass design

Assistive Tech

Alexander O. Onukwue

2nd March 2021

Brenda Katwesigye and Geogette Ndabukiye founded Wazi Vision in 2017 to create affordable prescription eyeglasses for people of all income levels in Uganda. The eyeglasses are stylish and manufactured from recycled plastic, wood, barkcloth, fabric and horn. A pair of ‘Wazi Round’ goes for UGX 70,000 (~ $19). Now, the company wants to add a […]

Despite business challenges, MTN Nigeria reports profit before tax of $781 million

News

Olumuyiwa Olowogboyega

1st March 2021

If there were ever any doubts about MTN Nigeria being Nigeria’s telecoms juggernaut, its 2020 financial report, with a profit before tax of ₦298 billion, clears that doubt.

Opera’s Q4 results claim OPay processed $2 billion in transactions in December 2020

Features

Olumuyiwa Olowogboyega

1st March 2021

For investors, Opera’s Q4 results are a step in the right direction as the company continues with expansion plans Opera, the software company that owns the widely-used Opera browser and content platform, Opera News, has released its results for the fourth quarter of 2020. The company posted strong results for the quarter with $50.4 million […]

The Next Wave: Moving fintech in one direction

The Next Wave

Alexander O. Onukwue

1st March 2021

Jumia shows working FEBRUARY 28, 2021 This newsletter is a weekly in-depth analysis of tech and innovation in Africa that will serve as a post-pandemic guide. Subscribe here to get it directly in your inbox every Sunday at 3 pm WAT Hello, One Direction was a pretty good band, weren’t they? Five hit albums from […]

How Bizao is building cross-border payments channels for 300 million people in francophone Africa

FinTech

Alexander O. Onukwue

26th February 2021

The ride from Lagos to Ganvie, a lake village in Benin republic, is about 150km. The village’s 35,000 people live in a scenic environment that invites curious tourists who have dubbed it the Venice of Africa. But like a number of cities in the french-speaking countries in Africa, Ganvie has a problem; it is a […]