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Nigeria Aims to Include Cryptocurrencies in Tax System Overhaul
20.8.2024
The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS...
Nigeria Planning to Present Law to Tax Crypto by September: Report
19.8.2024
Nigeria's Federal Inland Revenue Service (FIRS) plans to bring a bill for taxing the crypto industry to parliament by September, news outlet Punch Nigeria reported on Saturday
Nigeria’s SEC issues first license to local crypto exchange
19.8.2024
As the regulatory environment continues to evolve, other local exchanges will likely follow Quidax’s lead and seek to meet the SEC’s requirements
Goldman Sachs’ Bitcoin ETF Holdings, Hamster Kombat Rejected VCs, and More — Week in Review
18.8.2024
Goldman Sachs disclosed substantial holdings of $418 million in bitcoin ETFs in Q2. Hamster Kombat rejected multiple venture capital investments to protect players from becoming exit liquidity. A Nigerian bitcoin proponent filed a lawsuit to overturn the government’s crypto ban....
Nigeria’s tax watchdog proposes comprehensive crypto
18.8.2024
The FIRS’s initiative to regulate cryptocurrency and update tax laws reflects a broader trend in Nigeria toward embracing and managing digital asset
Nigeria Seizes $37.5M in Digital Assets After Court Grants Freezing Order
16.8.2024
The Nigerian government has seized approximately $37.5 million in digital assets from the organizers of the Endbadgovernance protests. The funds were frozen by a court order based on a claim by the Economic and Financial Crimes Commission, which alleged that the money was linked to money laundering...
Nigeria Court Freezes $38M of Crypto Allegedly Sent to Support Protests in the Country: Reports
16.8.2024
Nigerian authorities have traced $50 million of cryptocurrency sent to support recent protests, local media reported
Nigeria Blocks Jailed Binance Executive Tigran Gambaryan’s Legal Team
15.8.2024
Jailed Binance employee and an American citizen, Tigran Gambaryan, is reportedly experiencing severe health issues. Since a Nigerian court adjourned his hearing to October 11, his detention conditions have worsened, and his legal team has been blocked from visiting him, violating Nigerian...
Nigerian crypto wallets tied to protests evade government freeze efforts
15.8.2024
The discrepancies between the government’s claims and the blockchain data highlight a tense dynamic between digital finance and state authorities
Nigerian state plans to tokenize real estate, boost revenue
14.8.2024
The tokenization of real estate in Lagos State has the potential to transform the property market, making it more accessible to a wider range of investors
OKX to Halt Operations in Nigeria Due to New Laws
12.8.2024
OKX crypto exchange will stop providing its services in Nigeria on August 16, 2024. This decision was made…
Binance Exec Tigran Gambaryan Denied Care in Nigerian Detention
12.8.2024
Tigran Gambaryan, a Binance executive, is also said to have been denied access to a lawyer and health…
Tigran Gambaryan's health worsens, surgery now required
12.8.2024
Gambaryan has been detained in Nigeria since February 2024 and has suffered numerous chronic health conditions during that time
Gambaryan Family Says Binance Executive Is Being Denied Access to Lawyers, Health Is Deteriorating
12.8.2024
American Binance executive Tigran Gambaryan, who is detained in Nigeria, is being "denied adequate access to his legal team and his health is deteriorating rapidly," his family said in an emailed statement
African Union greenlights AI adoption across member states
11.8.2024
The strategy aims to fast-track AI development and adoption in Africa, driving innovation and growth that aligns with Nigeria’s digital transformation goals
Nigerian Files Lawsuit to Overturn Crypto Ban, Seeks BTC Commodity Status
11.8.2024
A Nigerian bitcoin proponent has launched a lawsuit challenging government restrictions on owning, using, and trading digital assets. The proponent said the lawsuit seeks to remove the blockade on cryptocurrency exchanges, ensuring all Nigerians have unrestricted access. Crypto Restrictions Deny...
Nigerian crypto community supports activist’s fight for rights
10.8.2024
As the case progresses, the community’s backing will be crucial in maintaining momentum and advocating for a more favorable regulatory environment
Nigerian activist battles for Bitcoin rights in major legal challenge
9.8.2024
The outcome of this case could have significant implications for the future of cryptocurrency in Nigeria
Group Urges Nigeria to End Naira Float, Reinstate Subsidies
7.8.2024
The Nigerian government has been urged to abandon a floating foreign exchange system and reintroduce subsidies in the power and energy, agriculture, and transportation sectors. In a communique, the Multidisciplinary Finance Professionals (MFP) said the Nigerian government should not determine...
Nigeria Acts to Stabilize Currency with Forex Auction
4.8.2024
The Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized dealer banks to share their respective lists of outstanding forex demand by end users. Auction System Aims to Mitigate...