Report: Nigerian Crypto Restrictions and Twitter Ban Have ‘Crippled Foreign Direct Investment in the Fintech Industry’

Report: Nigerian Crypto Restrictions and Twitter Ban Have ‘Crippled Foreign Direct Investment in the Fintech Industry’


A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct investment in the fintech industry.”

Foreign Direct Investment ‘Crippled’

A new report has found that restrictions imposed by Nigerian authorities on crypto trading may have contributed to the reduced foreign direct investment that goes to the fintech industry. The same restrictions, as well as the banning of Twitter, have also adversely affected young Nigerians who were earning money via crypto trading.

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The report, which is titled Africa’s Urbanisation Dynamics 2022: The Economic Power of Africa’s Cities, was jointly published by the secretaries-general of the Organisation for Economic Co‑operation and Development (OECD) and the United Nations (UN).

“The restrictions on

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