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Nigeria can’t decide what to do about the rise and rise of cryptocurrency
ByShare this storyWhen the Central Bank of Nigeria sent out a circular on February 5 warning the public about the dangers and risks of cryptocurrencies, it stirred local banks and the fintech community into a frenzy. In one stroke, the central bank seemed to have barred financial institutions from dealing in or enabling crypto transactions.“It’s a crazy one,” said Lightson Ogwor, a 25-year-old graphic designer based in Enugu, a city in Nigeria’s southeast. Ogwor, who has been trading cryptocurrencies since 2016, is one of a growing number of tech-savvy young Nigerians who have turned to...…ByShare this storyWhen the Central Bank of Nigeria sent out a circular on February 5 warning the public about the dangers and risks of cryptocurrencies, it stirred local banks and the fintech community into a frenzy. In one stroke, the central bank seemed to have barred financial institutions from dealing in or enabling crypto transactions.“It’s a crazy one,” said Lightson Ogwor, a 25-year-old graphic designer based in Enugu, a city in Nigeria’s southeast. Ogwor, who has been trading cryptocurrencies since 2016, is one of a growing number of tech-savvy young Nigerians who have turned to...WW…
Nigerians don’t trust the government to respond to emergency calls. So they created apps instead.
ByShare this storyBryan was on the way to a recording studio with his friends last year when the police stopped them, asked to see their IDs, and threw them into the back of a van. “They took my phone, asked what I do for a living, and why I was dressed the way I was,” said the 22-year-old musician, who requested that his last name be withheld out of concern for his safety. “They asked why I was using an iPhone — we were all using iPhones — and searched my pockets and fanny pack for money. Unfortunately, I had a bundle of cash to pay for the recording session and the Uber back home....…ByShare this storyBryan was on the way to a recording studio with his friends last year when the police stopped them, asked to see their IDs, and threw them into the back of a van. “They took my phone, asked what I do for a living, and why I was dressed the way I was,” said the 22-year-old musician, who requested that his last name be withheld out of concern for his safety. “They asked why I was using an iPhone — we were all using iPhones — and searched my pockets and fanny pack for money. Unfortunately, I had a bundle of cash to pay for the recording session and the Uber back home....WW…
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