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Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate
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A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed exchange rate of $1:380 is robbing recipients 20-30% of their remittance value each time they […]The post Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate appeared first on Bitcoin News.
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