Bitcoin trades at a 46% premium on Luno Nigeria

Bitcoin trades at a 46% premium on Luno Nigeria

The Nigerian central bank’s restrictions on cryptocurrencies still affect exchanges operating in the African nation.

Bitcoin was trading at a 46% premium on Friday on Luno in Nigeria, which means a bitcoin’s price on the exchange was much higher than its average price on other major exchanges of around $ 48,000 at the time. That’s up from a 38% premium earlier in the week. Luno is a subsidiary of Digital Currency Group, the parent company of CoinDesk.

Earlier this month, the Central Bank of Nigeria (CBN) banned local financial institutions from serving crypto businesses. The exchange said it was experiencing a drop in liquidity as a result of the ban. Marius Reitz, General de Luno …

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