Search
Associate Professor Rejects Alleged Link Between Nigerian Currency Depreciation and Crypto Trading
6.6.2024
Nigeria’s decision to halt naira trading on cryptocurrency exchanges is likely to worsen matters for its volatile currency,” an associate professor at the University of East London has argued. The associate professor said Nigeria can effectively regulate the cryptocurrency industry through...
Nigerian Startup Zone Launches Blockchain-Powered Point-of-Sale Gateway
6.6.2024
A Nigerian payments company recently announced the launch of a blockchain-powered point-of-sale payment gateway. This gateway facilitates transaction routing to issuers and aims to prevent chargebacks or chargeback fraud by promptly reimbursing customers for unsuccessful transactions. Eliminating...
Mexican Billionaire Ricardo Salinas Urges Followers to Buy Bitcoin as Nigerian Naira Falls Under a Satoshi
3.6.2024
Ricardo Salinas Pliego, one of the wealthiest billionaires in Mexico, has urged his followers to purchase Bitcoin as a hedge against the devaluation of fiat currencies. Salinas Pliego recommended purchasing bitcoin in response to a social media post reporting on the fall of the value of...
Nigerian Artist Davido’s Meme Coin Plummets Shortly After He Pockets $474,000 From Token Sale
31.5.2024
Nigerian artist Davido has been accused of perpetrating an “outright scam” after pocketing over $468,000 from selling his recently launched meme coin. A prominent Nigerian crypto enthusiast claims Davido’s actions create problems for many legitimate crypto businesses and startups...
Nigerian crypto community raises alarm over Davido meme token
30.5.2024
Davido has remained silent amid criticism about pump-and-dump schemes and regulatory scrutiny
Nigerian Senate Committee: Regulated Crypto Trading a Boost for Local Currency
30.5.2024
The Nigerian Senate Committee on Capital Markets has called for the regulation of cryptocurrency and warned that the country’s unclear position could be costing the country. The committee also urged the government of Bola Tinubu to develop the capital and crypto markets to defend the local...
Binance official’s wife demands medical care for detained husband
29.5.2024
Mark Mordi, Gambaryan’s legal representative, notified the court on May 22 that his client had been unwell since the previous trial date and was still experiencing health problems
‘Spraying’ Naira Notes Causes Depreciation, Warns Nigerian Anti-Graft Body
28.5.2024
The Economic and Financial Crimes Commission (EFCC) has issued a warning against the practice of spraying naira notes at social events, emphasizing that it diminishes the dignity of the currency. In a recent post on its official X page, the Nigerian anti-graft agency urged residents to respect...
Nigerian Prison Agency Held Responsible for Court Absence of Jailed Binance Executive
23.5.2024
The Nigerian Correctional Service recently faced accusations of failing to bring Tigran Gambaryan, a jailed Binance executive, to a court hearing on May 22. A lawyer representing the Nigerian revenue collection agency subsequently requested the court to adjourn proceedings. This would allow him...
Nigerian Court Adjourns Binance Tax Evasion Trial to June 14
23.5.2024
The Federal High Court in Abuja has adjourned the tax evasion case against Binance Holdings Limited and its executive, Tigran Gambaryan, till June 14 due to Gambaryan's absence.
The post Nigerian Court Adjourns Binance Tax Evasion Trial to June 14 appeared first on Cryptonews
Nigerian prison fails to bring Binance exec to court
23.5.2024
Prosecution counsel Moses Idehu requested a brief stand-down of the case, seeking to temporarily adjourn the matter later to resolve the issue
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 Securities Regulator: Crypto Exchanges Complying With Naira Delisting Directive
20.5.2024
The Nigerian Securities Regulator has stated that cryptocurrency exchanges have complied with a directive to remove the local currency from peer-to-peer platforms. The acting director-general of the Nigerian Securities and Exchange Commission has called on platforms engaged in practices that...
Nigerian Currency Slides 5% After Central Bank Injects More Than $80 Million Into Forex Market
20.5.2024
The Nigerian naira continued with a downward which recently saw it being named the worst-performing currency when it slid by just over five per cent to erase the previous day’s gains. The naira’s depreciation is said to have occurred just a day after the central bank intervened...
Yuval Harari Criticizes Bitcoin, Naira Becomes World’s Worst-Performing Currency, and More — Week in Review
19.5.2024
Historian Yuval Noah Harari criticized bitcoin, calling it a “currency of distrust.” The Nigerian naira has become the world’s worst-performing currency after erasing its early April gains due to ongoing foreign exchange shortages. Robert Kiyosaki warned of a potential collapse...
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...