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Nigeria Unveils Oil-for-Naira Program to Stabilize Local Currency
2.10.2024
Nigeria began selling crude oil to billionaire Aliko Dangote’s new refinery in naira on October 1st. This “oil for naira” scheme aims to ease pressure on the struggling Nigerian currency, the naira, which has lost significant value this year. However, the success of the scheme...
'Is Daddy on the Airplane?' Jailed Binance Exec Gambaryan Family’s Ordeal in New Podcast
1.10.2024
“Is Daddy on the airplane?” my son asked. Yuki Gambaryan, the wife of Binance executive Tigran Gambaryan, who is jailed in Nigeria tells of her family’s ordeal in a new podcast, “Designated.”
Nigeria’s Central Bank Raises Benchmark Rate by 50 Basis Points
25.9.2024
The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures aim to combat inflation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms...
Nigerian Entrepreneur: Recent Regulatory Moves Signal Support for Crypto
22.9.2024
While Nigerian authorities have generally been perceived as having an anti-crypto stance, recent developments on the regulatory front suggest a shift toward supporting crypto businesses. Buchi Okoro, CEO of the digital asset exchange Quidax, which recently obtained an operating license, believes...
Binance CEO says task force is working ‘across the clock’ to free exec in Nigeria
19.9.2024
Binance CEO Richard Teng said the company has continued to explore every legal and political avenue to bring Gambaryan home as his health deteriorates by the day.
Binance Seeks Release of Jailed Employee Before Pursuing Nigerian License
19.9.2024
Binance has made the release of Tigran Gambaryan a condition for seeking registration in Nigeria. The exchange is reluctant to register due to outstanding issues with the government. It reportedly believes the SEC’s hastily formulated framework is not supported by law. Despite this, Binance...
Global Surge in CBDC Development: 134 Countries Now Exploring Digital Currencies
19.9.2024
New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing...
Binance exec’s mother pleads with US gov’t to secure his release
18.9.2024
Detained in Nigeria for more than six months and with reported deteriorating health, Tigran Gambaryan likely won’t return to court until Oct. 9
Nigerian Blockchain Group Ousts President, Who Remains Defiant
14.9.2024
The Stakeholders in Blockchain Association of Nigeria (SIBAN) expelled its president, Obinna Iwuno, for allegedly registering an illegal body and misusing his position. Iwuno denied these allegations and accused the SIBAN board of trustees of acting unlawfully. Despite the expulsion, Iwuno claimed...
Nigeria Accuses Four Crypto Traders of Forex Regulations Violations
13.9.2024
The Nigerian government has filed criminal charges against four individuals and several firms for allegedly conducting illegal crypto transactions, including USDT to naira conversions, without a banking license. The four are Ejiogu A. Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley,...
US Urges Nigeria to Release Jailed Binance Employee, Considers ‘Wrongfully Detained’ Designation
13.9.2024
The U.S. is urging Nigeria to release Tigran Gambaryan, a jailed Binance employee, due to humanitarian concerns. This has become a major point of tension in U.S.-Nigeria relations. U.S. officials say Gambaryan’s health issues warrant his release, while his family claims he’s denied...
US Once Again Urges Nigeria to Release Gambaryan of Binance
13.9.2024
The U.S. government has once again urged Nigeria to release an employee of the leading crypto exchange Binance,…
US diplomats pressure Nigeria to release detained Binance exec
12.9.2024
Tigran Gambaryan, a United States citizen and former Internal Revenue Service agent, has been detained in Nigeria since February 2024
India, Nigeria, Indonesia Lead Chainalysis 2024 Crypto Adoption Index
12.9.2024
India, Nigeria, and Indonesia top Chainalysis’ latest global crypto adoption index, which ranks 151 countries based on grassroots cryptocurrency usage, adjusted for population and purchasing power. The report notes strong growth in crypto activity, particularly in lower-income nations....
Nigerian Agency Gets Nod to Freeze $330,000 in Crypto Users’ Bank Accounts
12.9.2024
A Nigerian anti-corruption agency froze bank accounts (over $330,000) belonging to suspected cryptocurrency users on global platforms like Kucoin and Bybit. The agency believes these users manipulated the Nigerian currency (naira) through their trading activity. The exchanges are also accused...
India and Nigeria Lead the World in Crypto Adoption Again, but Indonesia Is Fastest Growing: Chainalysis
11.9.2024
India and Nigeria have maintained the top two positions in the world in terms of grassroots crypto adoption but Indonesia is the fastest growing, according to blockchain analytics firm Chainalysis' annual report released Wednesday
Nigeria SEC to Commence Enforcement Action on Unlicensed Crypto Firms: Reports
10.9.2024
We are certainly going to commence enforcement actions on anyone who wants to operate in this market and does not have the intention of being regulated, Emomotimi Agama, the SEC's Director General said
Nigeria Resumes Dollar Sales to Money Changers Amid Naira’s Decline
10.9.2024
The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira. This decision came after the naira-to-dollar exchange rate dropped to a low of NGN1,639 per dollar, likely due to increased demand for US dollars for travel and business. The central...
Nigerian Regulator Threatens Crackdown on Unlicensed Crypto Entities
10.9.2024
The Nigerian Securities and Exchange Commission (SEC) has vowed to crack down on unlicensed cryptocurrency businesses targeting Nigerians. This comes just two weeks after approving two crypto exchanges and promising to consider similar applications. The SEC aims to protect investors without...
Nigeria’s SEC to crack down on unregulated crypto exchanges
9.9.2024
Nigeria’s SEC will enforce regulations on unregulated crypto businesses, protecting investors while encouraging innovation in the growing market