Nigerian crypto international funding is at a report low: Examine

The biggest economic system in Africa has a international funding drawback regardless of exponential development in crypto adoption.

The Nationwide Bureau of Statistics (NBS) reported on Tuesday that international direct funding (FDI) in Nigeria, the biggest economic system in Africa, dropped by 33% final yr on account of a extreme scarcity of {dollars}. The scarcity has additionally discouraged crypto firms from increasing into the nation. In 2022, funding declined to $468 million from the earlier yr’s $698 million. In response to the info, FDI has decreased by roughly 90% since its peak of $4.7 billion in 2008.

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