According to a report, central banks around the world are now producing their own digital currency. Reportedly, after registering with a cryptocurrency, users create an ewallet to store, save and send money, a feature is instore transactions achievable by scanning a qr code on user’s phone. According to reports, the Nigerian central bank are piloting the first digital currency in Africa. Reportedly, the adoption of central bank digital currency and its underlying technology blockchain, a decentralised indelible and transparent data base could increase Nigeria’s gross domestic product over the next ten years.
According to reports, the uk colonised Nigeria during the nineteenth Century. Reportedly, the bombardment of Lagos was followed by missionaries in the mineral rich south, leading to the formation of the royal Niger company in 1879. According to the report, the uk paid the rnc £865,000, revoked their charter and allowed them 50% of mining rights in a large part of the areas, for ninety nine years.
Reportedly, uk military campaigns dealt with resistance. According to reports, the north and south Nigerian protectorates were administered seperately, the petroleum rich Niger delta became part of the southern territory. In 1954 the eastern region inhabited by Igbo, Isaw from the Niger delta and Ibibio from the south was divided from southern Nigeria.
Reportedly, northern Cameroon opted to join Nigeria in 1961. According to a report, imbalances and corruption of the electoral and political processes led to two military coups in 1966. Reportedly, Abubakar Belawar, prime minister of Nigeria, Sir Ahmadu Bello, premier of northern Nigeria and other officials were assassinated. According to a report, Belaware had been chosen to study at the university of London, Bello studied governance in England.
According to reports, a counter coup and anti Igbo pogroms led to many fleeing to the eastern region, the breakaway state of Biafra was declared. Reportedly, General Yakukbu Gowon of Nigeria declared war, listed as one of the deadliest in history. According to a report, Nigeria was backed by Britain and the soviet union. The thirty month war was described as a long siege, isolating Biafrans from supplies. The war ended in 1970.
According to reports,during the 1970’s Nigeria joined the organisation of petroleum exporting countries and received huge revenues but the people remained poor. Reportedly, two coups in 1975 and 76 were followed by a new constituent assembly. Reportedly, Shehu Shagari won the 1979 elections, but his government became viewed as corrupt. According to a report, in 1983 state petroleum inspectors began to notice a slow poisoning of the waters of the country.
Reportedly, Nigeria has 159 oil fields,78 in the Niger Delta and 1,481 oil wells. According to a report, conflicts first arose in the 1990’s between Nigerians who feel they are being exploited and international oil corporations. Reportedly, oil accounts for around 87% of Nigeria’s exports, yet oil revenue contributes only 9% to the gdp or total value of goods and services made in Nigeria.