Market News
Nigerian crypto investors defy crackdown to ride bitcoin frenzy - FT
Central bank warnings of danger rebound amid sense of euphoria among wide pool of retail traders
BY Neil Munshi in Lagos
With savings of just under $80 and a salary of $50 a month, Promise Nwabueze, a social media manager in south-east Nigeria, decided to invest all he had into cryptocurrency. The gamble paid off. Within months, his savings had increased fivefold. They have continued to rise ever since.
“Presently my total net worth is $2,500 — I’m sorry I’m being so excited, but it’s incredible,” he laughed, speaking by phone from Benin City, where he was teaching a class on crypto trading. “Now I am teaching so many people because the idea is to lift up [people] in Nigeria.” https://www.ft.com/content/c13...
