{"id":2345,"date":"2021-07-31T15:42:37","date_gmt":"2021-07-31T13:42:37","guid":{"rendered":"http:\/\/costops.com\/index.php\/2021\/07\/31\/out-of-control-and-rising-why-bitcoin-has-nigerias-government-in-a-panic\/"},"modified":"2021-07-31T15:42:37","modified_gmt":"2021-07-31T13:42:37","slug":"out-of-control-and-rising-why-bitcoin-has-nigerias-government-in-a-panic","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2021\/07\/31\/out-of-control-and-rising-why-bitcoin-has-nigerias-government-in-a-panic\/","title":{"rendered":"Out of control and rising: why bitcoin has Nigeria\u2019s government in a panic"},"content":{"rendered":"

As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them?<\/p>\n

When the Nigerian government suddenly banned access to foreign exchange for textile import companies in March 2019, Moses Awa* felt stuck. His business \u2013 importing woven shoes from Guangzhou, China, to sell in the northern city of Kano and his home state of Abia, further south \u2013 had been suffering along with the country\u2019s economy. The ban threatened to tip it over the edge. \u201cIt was a serious crisis: I had to act fast,\u201d Awa says.<\/p>\n

He turned to his younger brother, Osy, who had begun trading bitcoins. \u201cHe was just accumulating, accumulating crypto, saying that at some point years down the line it could be a great investment. When the forex ban happened, he showed me how much I needed it, too. I could pay my suppliers in bitcoins if they accepted \u2013 and they did.\u201d<\/p>\n

Continue reading…<\/a>
\nAs leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them?
\nWhen the Nigerian government suddenly banned access to foreign exchange for textile import companies in March 2019, Moses Awa* felt stuck. His business \u2013 importing woven shoes from Guangzhou, China, to sell in the northern city of Kano and his home state of Abia, further south \u2013 had been suffering along with the country\u2019s economy. The ban threatened to tip it over the edge. \u201cIt was a serious crisis: I had to act fast,\u201d Awa says.
\nHe turned to his younger brother, Osy, who had begun trading bitcoins. \u201cHe was just accumulating, accumulating crypto, saying that at some point years down the line it could be a great investment. When the forex ban happened, he showed me how much I needed it, too. I could pay my suppliers in bitcoins if they accepted \u2013 and they did.\u201d Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them? When the Nigerian government suddenly banned access to foreign exchange for textile import companies in March 2019, Moses Awa* felt stuck. His business \u2013 importing woven shoes from Guangzhou, China, to sell in the northern city of …<\/p>\n

Out of control and rising: why bitcoin has Nigeria\u2019s government in a panic<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":2346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/2345"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=2345"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/2345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/2346"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=2345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=2345"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=2345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}