Macro Analysis /
Nigeria

Nigeria's central bank takes another swing at fintechs in the naira's defence

  • After the crackdown on crypto, the CBN has blocked the accounts of four Nigerian fintechs providing investments in USD

  • While the news sparked panic, Nigerians’ demand for dollar investments is unlikely to slow given the state of the naira

  • The CBN’s move increases regulatory risks in the fintech space, which is negative for investor and consumer confidence

Nigeria's central bank takes another swing at fintechs in the naira's defence
Busola Jeje
Busola Jeje

Junior Research Analyst

Janet Ogunkoya
Janet Ogunkoya

Senior Research Analyst

Tellimer Research
27 August 2021
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