Volume 79
Good morning,
ICYMI: The Nigerian Government will always have a beef with crypto. The government has now tagged cryptocurrencies as a “national security issue” and is working on a regulation to ban peer-to-peer trading.
Peer-to-peer trading became a workaround in 2021 after the CBN banned banks from processing crypto transactions. With P2P, traders could initiate trades and transact between themselves without having their bank accounts flagged.
Fast forward to December 2023, the ban was lifted, but not for long. This year, the government has blamed the volatile forex exchange market on crypto speculators. The CBN now thinks crypto traders use P2P platforms to hurt and manipulate the naira’s strength.
So, this year alone, the government has cracked down on Binance and recently froze about 1k bank accounts involved in crypto transactions.
I wonder how the government will enforce this regulation at scale, though. And what it will mean for crypto users and companies.
Let’s get into this week’s stories.
In this letter:
- #NairaLife:The Apprentice Who Wants Out of the System
- My Business Found a Safe Space at Landmark Beach
- #ZikokoMoneyVideo: How Much Do Unilag Students Spend Weekly?
- QUIZ: How Liquid Is Your Money?
- Where The Money At?!
#NairaLife: The Apprentice Who Wants Out of the System
This 23-year-old pounded fufu for ₦200/day and worked in a bus park before getting into the apprenticeship system to learn the furniture business in 2020. It was the best decision at the time, but he’s no longer sure.
Interestingly, his change of mind isn’t connected to not earning a salary.
Strings Attached is Happening this Weekend!
This Saturday, we want you outside for a day of link-ups, games, drinks and live performances at Muri Okunola Park, Lagos. Strings Attached is an opportunity for friends to reconnect, lovers to bond and individuals to make friends and build community. The best part is that it’s free.
To get a free ticket, download the Onebank by Sterling App and sign up using ZIKOKO as the referral code. You’ll get your ticket sent to your email.
My Business Found a Safe Space at Landmark Beach
When parts of the Landmark beach property were demolished on April 30, 2024, to make way for the Federal Government’s Lagos-Calabar highway project, it meant the end of various businesses within the Landmark ecosystem.
So, we asked one affected business owner to reflect on their experiences building a business on the beach and what the unanticipated setback means for them.
How Much Do Unilag Students Spend Weekly?
QUIZ: How Liquid is your Money?
Unbelievably liquid or hard as a rock?
Where The Money At?!
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
Again, don’t mention. We gatchu.
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All good things must come to an end. But not this good thing. We’ll be back next week.
In the
meantime, keep reading Zikoko’s articles and be sure to share the love.
See you next week…
Yours cashly,
Toheeb,
Zikoko’s’OG’ Mr. Money
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