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Nigeria reforms blockchain policy committee with fresh experts
22.5.2024
Inuwa said the committee’s strategic reconstitution would bring together a fresh wave of experienced professionals and leading minds in blockchain
Nigeria’s SEC-Crypto License
21.5.2024
In May 2022, Nigeria’s Securities and Exchange Commission introduced a robust regulatory framework for virtual asset service providers, including digital asset exchanges. The framework required compliance with various laws and regulations to foster market integrity, safeguard investors, and deter...
Nigerian Court Rules Tigran Gambaryan Can Face Tax Evasion Charges on Behalf of Binance
18.5.2024
The Binance executive, Tigran Gambaryan, who is currently in jail, has been deemed eligible by a Nigerian court to represent the cryptocurrency exchange in its ongoing tax evasion trial. A spokesperson for Binance stated that the charges against Gambaryan are entirely without merit, and he should...
Nigerian Court Rules Tigran Gambaryan Can Face Tax Evasion Charges on Behalf of Binance
18.5.2024
The Binance executive, Tigran Gambaryan, who is currently in jail, has been deemed eligible by a Nigerian court to represent the cryptocurrency exchange in its ongoing tax evasion trial. A spokesperson for Binance stated that the charges against Gambaryan are entirely without merit, and he should...
Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe
18.5.2024
The Nigerian fintech firm Flutterwave claimed on May 16 that it had foiled an attempt to breach its payments platform. Flutterwave asserted that the “unauthorized activities inconsistent with usual customer behavior” did not compromise users’ funds or data confidentiality. According...
Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe
18.5.2024
The Nigerian fintech firm Flutterwave claimed on May 16 that it had foiled an attempt to breach its payments platform. Flutterwave asserted that the “unauthorized activities inconsistent with usual customer behavior” did not compromise users’ funds or data confidentiality. According...
Detained Binance Executive Tigran Gambaryan Denied Bail By Nigerian Court
17.5.2024
Tigran Gambaryan, the Binance executive detained in Nigeria, has been denied bail on his 40th birthday, according to a court hearing in Abuja Friday. News of Gambaryan's court appearance comes shortly after Binance CEO Richard Teng alleged Nigerian government officials offered the crypto exchange...
Binance exec denied bail in Nigeria money laundering trial
17.5.2024
Head prosecutor Ekele Iheanacho objected to bail by highlighting Gambaryan’s questionable attempt to get a new passport, allegedly due to a stolen previous one, which sparked suspicion
Binance Exec Tigran Gambaryan Denied Bail by Nigerian Court
17.5.2024
The Nigerian court also ruled that the Binance exchange can be served the FIRS tax evasion charges through its executive Tigran Gambaryan
Cryptocurrency Exchange Kucoin Suspends P2P Services for Nigerian Naira
16.5.2024
Kucoin, a global cryptocurrency exchange platform, announced on May 15 that it has temporarily suspended its peer-to-peer (P2P) services for the Nigerian naira, as well as the Fast Buy service via naira cards. The crypto exchange stated that during this period, it will focus on ensuring compliance...
KuCoin Halts Naira-Based Peer-to-Peer Trading, Citing Compliance
15.5.2024
Kucoin has made the decision to suspend all naira-based P2P trading in response to increased scrutiny from Nigeria's regulatory authorities.
The post KuCoin Halts Naira-Based Peer-to-Peer Trading, Citing Compliance appeared first on Cryptonews
Nigerian Currency Becomes Worst-Performing After Erasing All Early April Gains
12.5.2024
The Nigerian currency, which has been depreciating against the U.S. dollar in the past few weeks, has completely erased its gains from early April, making it the worst-performing currency in the world. The decline of the naira is attributed to Nigeria’s ongoing foreign exchange shortages....
Nigeria's foreign investment at risk due to Binance bribery allegations
12.5.2024
SBM Intelligence emphasized that detaining foreign business officials could make it challenging for the country to attract investors
Nigerian Experts Say Past Central Bank Policies Drove Users to P2P Crypto Platforms
12.5.2024
Stakeholders in Nigeria’s cryptocurrency sector argue that the Central Bank of Nigeria’s previous decision to exclude cryptocurrency entities from the banking ecosystem has fueled the growth of peer-to-peer crypto trading. Nigerian authorities are reportedly seeking to ban peer-to-peer crypto...
Interpol Nigeria boosts cybersecurity with virtual asset training
11.5.2024
The training will enable officers to effectively address cybercrimes involving virtual assets, particularly stablecoins
International Monetary Fund Tells Nigeria To Regulate Crypto Trading Platforms
10.5.2024
The International Monetary Fund (IMF) has recommended Nigeria regulate crypto trading platforms, a new staff report by the United Nations’ financial agency released Thursday states. The country has been under increased international scrutiny for the detainment of two Binance executives after...
IMF backs Nigeria crypto adoption amid local SEC crackdown
10.5.2024
The IMF recommendation sets out to remedy the macroeconomic challenges Nigeria faces while attracting global investment
Nigeria Denies Binance CEO’s Claims of $150M Bribe Demand; Criticizes Attempt to Discredit Government
10.5.2024
The Nigerian government has dismissed allegations from Binance CEO Richard Teng that representatives of the cryptocurrency exchange were solicited for a $150 million bribe by members of the House Committee on Financial Crimes (HCFC). A special assistant to the Nigerian Information Minister...
Nigeria Pushes Back Against Binance, Claims CEO’s Bribe Allegation ‘Lacks Any Iota of Substance’
9.5.2024
Nigeria has fired back at Binance Holdings' bribe accusation, claiming it's a distraction to shift focus away from the exchange's actions.
The post Nigeria Pushes Back Against Binance, Claims CEO’s Bribe Allegation ‘Lacks Any Iota of Substance’ appeared first on Cryptonews
Binance CEO Says Nigeria’s Detention of Employee on ‘Spurious’ Charges Sets ‘Dangerous Precedent’
8.5.2024
Binance CEO Richard Teng has warned that Nigeria’s decision to invite and subsequently detain mid-level employees on what he calls “spurious” charges sets “a dangerous precedent for companies worldwide.” Teng stated that certain lawmakers in Nigeria demanded a significant...