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Topic: [2016-08-06] Nigerian Central Bank Revokes Nearly All Money Transfer Licenses (Read 267 times)

legendary
Activity: 1904
Merit: 1074
The Nigerian government is going with the services that are properly regulated, unfortunately these services are also the most expensive... so it is not a decision being made to improve the life of it's

citizens. I think Nigeria has the strongest economy on the African continent now, but they also known for some pretty big scams. On one side it is a good thing, because it might help to reduce these

scams... but on the other hand, people using these services for legitimate reasons, would have to pay these ridiculous fees.  Roll Eyes
legendary
Activity: 1596
Merit: 1010
At the same time, this is an exciting opportunity for Bitcoin remittance in Nigeria. Since cryptocurrency operates outside of the control of the central bank, there is no way to prevent people from using it. Moreover, users can become their own agents who convert between Bitcoin and fiat currency, which would create a whole new market for the African country.

http://themerkle.com/nigerian-central-bank-revokes-nearly-all-money-transfer-licenses/
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