With the ban on cash withdrawals in Nigeria, Bitcoin and Cardano may finally shine
Join Our Telegram channel to stay up to date on breaking news coverage The Nigerian government is eager to steer its economy toward cryptographic payments in light of the successful rollout of the digital Naira. Cash withdrawals from government accounts will end on March 1, according to Modibbo Tukur, Chief Executive Officer of the Nigerian Financial Intelligence Unit. Tukur stated that the action is consistent with the government’s need to combat illegal activity at all levels. Cash withdrawals from government accounts will therefore be noted for investigations into money laundering.he told reporters that “On March 1, we are going to start money laundering and corruption investigations if there is a cash withdrawal from a government account, even if it is one naira,” The nation has been plagued by Boko Haram-style terrorist radicals, and by digitizing the economy, they hope to stop providing them with financial assistance. It’s interesting to note t...