What is happening in Nigeria?

Dave_Levine

One reason I am attracted to Stellar Lumens is the project to make lumens or the stellar network the banking system in Nigeria. Unfortunately, I can't find many details about this story or its progress. Does anyone have information regarding how they plan to make this happen? What are the milestones and will there be updates on the progress on those?

I understand that most people simply love talking about price charts and theories of why the price will skyrocket or not, but in the long run, actual adoption is what moves the price (not chart formations).

If there is anywhere I can go to follow this story, please let me know!

anon22238932

https://www.stellar.org/blog/roadmap/

Dave_Levine

It looks like that page was written in early 2016.

The page says: After spending nearly a month in Lagos earlier this year, our team will dedicate the balance of 2016 to anchor partnerships in Nigeria, a country that has the potential to move fintech history forward.

So what happened?

I appreciated that mention of Paystack and will tell my company to research its credit card processing for 1.5%. That would be sweet :) Have any more companies launched over the last year?

flarcos

you should also look at flutterwaves.. there is also Tonaira.com a remittance service in Nigeria using the Stellar network

Dave_Levine

Flutterwaves looks cool, but the info on it never mentions Stellar. I assume Stellar is the backbone for their system . . .

flarcos

Flutterwaves is listed but its not on the website that they are using Stellar.

layinka

@"flarcos"#7590 Do you know if there is any regulation from govt about KYC documents etc if one wants to become an anchor or a remittance service provider in Nigeria?

What of the banks? some of them were opposed to BTc at a point

flarcos

stellar require you to be KYC compliant , you also require a license to operate

layinka

A licence from who?

And what does being KYC compliant mean to stellar? implement the compliance protocol?

flarcos

Central bank of Nigeria A fight against money laundry and illegal movement of funds mostly

layinka

Thanks Flarcos.

Do you know the exact licence i will need? or do you have more details of the type of license ,the price and how i can go about getting it?

Is the license for being an anchor or for remittance>

flarcos

[quote="oliberty, post:11, topic:739"] Is the license for being an anchor or for remittance> [/quote]

remittance license is what you need

flarcos

[quote="oliberty, post:11, topic:739"] Do you know the exact licence i will need? or do you have more details of the type of license ,the price and how i can go about getting it? [/quote]

https://www.cbn.gov.ng/Out/2014/BPSD/Guidelines%20on%20International%20Money%20Transfer%20Services%20in%20Nigeria%20Approved%20d.pdf

layinka

Thanks a lot. I was asking if i needed a license to become an anchor?

flarcos

you do not need a license to run as Anchor