1 / 9 Relevant items tagged with #Nigeria
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Experts Warn of Crypto’s Role in Terror Group Boko Haram’s Cross-Border Expansion
Africa’s Stablecoin Boom: An ‘Economic Lifeline’ for Emerging Markets
[Jun 29 6:30 AM] The founder of an African stablecoin association said he supports BitMEX founder Arthur Hayes’ claim that one-third of Nigeria’s GDP is conducted in USDT. He emphasized that stablecoins are a vital economic lifeline for emerging markets and…
‘Pump-and-Dump’ Alert: Nigeria Cracks Down on Meme Coins
[Jun 19 9:05 PM] The Nigerian securities regulator has issued a warning against Zugacoin and Samzuga GPT, labeling them as unauthorized crypto operations. Memecoins Tied to Pump-and-Dump Schemes The Nigerian Securities and Exchange Commission (SEC) has issued a…
‘Quick-Money’ Nigerian Crypto Platform’s Withdrawal Plan Met With Suspicion
[May 6 3:30 AM] The troubled Nigerian digital asset platform Crypto Bridge Exchange (CBEX) recently announced new withdrawal options in an effort to restore investor confidence. Sources revealed that the company made this announcement after facing claims of…
Nigeria Customs Pilots Electronic Currency Declaration at Abuja Airport
[May 4 7:38 PM] The Nigeria Customs Service (NCS) has successfully piloted its Electronic Currency Declaration Form (E-CDF) at Nnamdi Azikiwe International Airport in Abuja, as part of its digital transformation efforts to enhance border security and financial…
$2.5M Crypto Scheme Busted: Nigerian Suspect Tracked to US Custody
[Apr 12 6:05 AM] A globe-spanning crypto romance scam that funneled $2.5 million through digital wallets has unraveled, exposing a mastermind now staring down 40 years behind bars. Feds Hunt Down Suspect in $2.5M Crypto Scam—Now He Faces 40 Years in Prison The U.S…
Nigeria’s CBN Calls 5,000 and 10,000 Naira Banknote Report ‘Fake News’
[Apr 2 10:45 PM] The Central Bank of Nigeria (CBN) has dismissed as fake news a report stating it issued ₦5,000 and ₦10,000 banknotes to enhance cash transactions. The CBN said the report, circulating on social media and claiming the new banknotes would become…
SEC Nigeria to Regulate Virtual Asset Service Providers Under New Law
[Mar 31 10:30 PM] Nigeria has taken a significant step towards regulating cryptocurrencies with the signing of the Nigerian Investments and Securities Act (ISA) 2025 into law. Cryptocurrency Officially Recognized As Asset Class The Nigerian Investments and…
Nigeria Alleges Binance Facilitated Terrorism, Kidnapping Funding
[Mar 31 9:30 AM] Nigeria’s government has accused Binance of facilitating terrorism and kidnapping financing through illicit fund transfers on its cryptocurrency exchange platform. Binance Faces Increasing Legal Challenges in Nigeria Prior to the Nigerian…
Premium on Naira Banknotes: Central Bank Condemns, Urges Action Against Illegal Currency Dealers
[Mar 19 9:30 PM] The Central Bank of Nigeria has raised concerns over illegal currency dealers charging premiums of 20–40% on naira banknotes. Threat to Naira Credibility The Nigerian central bank has raised alarms over the growing practice in which illegal…
Coinbase Expands Into Nigeria With Onboard Global Partnership
[Feb 27 3:06 AM] Coinbase has partnered with Onboard Global to offer Nigerian users secure and efficient cryptocurrency trading. Shielding Coinbase from Regulatory Risk Coinbase and Onboard Global have partnered to provide secure and efficient cryptocurrency…
Binance Faces Massive $81.5 Billion Lawsuit From Nigerian Government
[Feb 19 10:39 PM] Nigeria has sued Binance for $81.5 billion for running an unlicensed operation and tax evasion. Nigeria Demands Binance Pay for Economic Harm The Nigerian government has reportedly filed a lawsuit against Binance, seeking $79.5 billion in…
Binance vs. Nigeria: Tigran Gambaryan Denies Allegations of Spiriting $26 Billion Out of African Country
[Feb 15 10:30 PM] On Valentine’s day, Tigran Gambaryan reiterated claims that rogue Nigerian lawmakers demanded a $150 million bribe in exchange for dropping the case against the cryptocurrency exchange. Fake Meeting Tigran Gambaryan, head of financial crime…
Nigeria Embraces Blockchain: SEC Director General Sees Huge Potential for Capital Market Regulation
[Feb 8 8:30 AM] The director general of the Nigerian Securities and Exchange Commission (SEC) has praised blockchain technology for its potential to improve efficiency and aid in capital market regulation. Blockchain Solutions for Africa’s Challenges…
New Stablecoin Aims to Bring Regulatory Compliance to Nigeria’s Digital Economy
Nigerian Fintech Moniepoint Secures Over $10m Investment From Visa, Eyes Expansion in Africa
[Jan 30 6:30 AM] Visa has invested over $10 million in African fintech Moniepoint, joining its Series C funding round, which now exceeds $120 million. Moniepoint provides banking, credit, and payment services to businesses and individuals in Africa. The investment…
Nigeria Approves First Dedicated AI University in Africa
[Jan 20 3:00 AM] Nigeria is set to launch Africa’s first dedicated artificial intelligence (AI) university, Wini Institution, in Epe, Lagos. This ambitious project aims to equip young Nigerians with cutting-edge AI skills, fostering a thriving tech ecosystem…
Nigeria’s SEC Warns Crypto License Applicants: Meet Registration Requirements or Face Rejection
[Jan 9 10:30 AM] The Nigerian securities regulator has cautioned that some applicants for virtual asset service provider (VASP) licenses do not meet regulatory requirements. SEC Welcomes Stakeholder Feedback The Director-General of the Nigerian Securities and…
Trump’s Dedollarization Warning Falls Flat as Nigeria, China Renew $2 Billion Currency Swap Deal
[Dec 28, 2024 6:30 PM] China and Nigeria have renewed a $2 billion currency swap arrangement for another three years. Trump Tariff Threat China and Nigeria have agreed to renew a $2 billion currency swap arrangement, initially signed in 2018. The arrangement reportedly…
Nigerian SEC tightens crypto marketing rules
[Dec 19, 2024 1:58 PM] The SEC’s new rules on digital asset promotions aim to “curb the menace” of social media influencers promoting unregulated crypto products.
Anti-Graft Agency Arrests 792 Suspects in Major Crypto Romance Scam Bust in Nigeria
[Dec 19, 2024 8:30 AM] The Nigerian Economic and Financial Crimes Commission (EFCC) recently arrested 792 suspects involved in crypto romance scams. Scams Traced to Foreign Kingpins The Nigerian anti-graft body, the Economic and Financial Crimes Commission (EFCC)…
Nigeria arrests nearly 800 in raid on crypto pig butchering hub
[Dec 17, 2024 3:36 AM] Nigeria’s anti-corruption agency arrested 792 suspected to be involved in a crypto romance scam scheme based out of the country’s largest city.
Want Greater Bitcoin Adoption? Engage With Your Government.
[Nov 21, 2024 6:18 PM] It’s been a good week for Bitcoin and its status in the eyes of federal deposit insurance corporations. (Well, there’s a weird sentence I never thought I’d write.)On Tuesday, the anti-crypto U.S. Federal Deposit Insurance Corporation (FDIC)…
Nigerian Crypto Crackdown: Two More Firms Convicted, Forced to Cough Up $30,000
Google Fuels Nigeria’s AI Ambitions With Million Dollar Grant
[Nov 1, 2024 6:30 AM] The Federal Ministry of Communications, Innovation, and Digital Economy (FMCIDE) in Nigeria has announced a $1.7 million (NGN2.8 billion) Google grant to promote artificial intelligence (AI) talent development. This will support the…
US President Biden Applauds Nigeria’s Crypto Cooperation and Push for Global Reform
[Oct 30, 2024 2:30 AM] U.S. President Joe Biden has praised Nigeria’s efforts in combating crypto-related financial crimes, including the recent release of a former Binance executive. Biden, Tinubu Strengthen US-Nigeria Ties With Crypto Crime Initiative The White House…
President Biden thanks Nigerian President for Binance exec’s release
[Oct 29, 2024 8:21 PM] A former IRS special agent and Binance’s head of financial crime compliance, Tigran Gambaryan had been in Nigerian custody with reports of deteriorating health since February.
President Biden Thanks Nigerian President for Binance Exec’s Release: White House
[Oct 29, 2024 6:29 PM] U.S. President Joe Biden called Bola Tinubu, the President of Nigeria, on Tuesday to personally thank him for the recent release of detained American Binance executive Tigran Gambaryan.
Nigeria frees Binance exec, Ripple appeals SEC XRP ruling: Law Decoded
[Oct 28, 2024 7:00 PM] The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains.