The Central Bank of Nigeria (CBN) banned financial institutions from supporting cryptocurrency transactions. However, the citizens have found ways to use cryptocurrencies, and George Residence has become the first hotel in the country to accept Bitcoin.
Nigeria’s hotel now accepts Bitcoin
Nigeria is the most populous black nation in the world and the leading economy in Africa. Hence, it is not a surprise that it was the leader in cryptocurrency adoption in Africa and one of the top in the world until the CBN decided to ban financial institutions from supporting cryptocurrency transactions.