Bitcoin premium hits 60% in Nigeria as it limits ATM cash withdrawals


The price of Bitcoin (BTC) in Nigeria has skyrocketed to well above market levels amid continued efforts by the central bank to push its citizens into digitalized cash.

At the time of writing, the price of 1 BTC on Nigerian crypto exchange NairaEX is currently 17.8 million Naira, equating to a whopping $38,792.

This represents more than a 60% premium over the current market price of Bitcoin, which is around $23,700 at the time of writing.

It comes as the Central Bank of Nigeria has continued to impose limits on ATM cash withdrawals amid an ongoing effort to accelerate its shift to a cashless society.

Earlier this month, the central bank imposed a limit on cash withdrawals following a December announcement.

As of Jan. 9, citizens were only…

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