Bitcoin trades higher in Nigeria amid cashless economy drive

Bitcoin was trading at a premium in Nigerian cryptocurrency exchanges on Monday as the central bank continued its cashless society campaign which includes ATM withdrawal limits that took effect earlier this month.

A single Bitcoin was selling for roughly 17.5 million Nigerian nairas (NGN), or around US$38,000, at local exchanges NairaEX and Quidax as of 10 p.m. on Monday. That price is about 40% higher than the global average Bitcoin price of US$23,100.