News list for " Nigeria"
According to Nigerian media reports, the Nigerian president declared a state of emergency in the oil-producing central Rivers state.
Nigerian authorities have sued cryptocurrency exchange Binance for more than $79 billion in financial losses and $2 billion in back taxes. The amount is almost 19 times the $4.30 billion fine Binance paid after pleading guilty to violating U.S. banking laws in 2023. The Nigerian tax authority, the Federal Revenue Service (FIRS), also claimed that Binance was operating illegally within the country, the report said.
February 18 news, according to Bloomberg, Nigeria is amending regulations to allow taxation of cryptocurrency transactions and digital transactions, with the aim of increasing fiscal revenue. The Nigerian Securities and Exchange Commission said that the agency is working on new rules "to ensure that all eligible transactions can enter regulated exchanges and be included in the formal taxation system", the agency said in response to questions via email. Currently, bills on taxation of cryptocurre...
Nigeria has launched its first compliance stablecoin, cNGN. The stablecoin has been launched on two exchanges and has entered the Securities and Exchange Commission's (SEC) incubation program. According to Nigerian Senator Ihenyen, the stablecoin pegged to the Nigerian naira will enable faster, lower cost and safer cross-border transfers.
The Nigerian Securities and Exchange Commission (SEC) has updated its cryptocurrency rules to add requirements for cryptocurrency-related marketing promotions by virtual asset service providers (VASPs) and social media influencers. In its revised digital asset rules, the SEC said that VASPs that engage third-party service providers to promote their crypto offerings must "obtain prior approval from the Commission." The rules also require VASPs to ensure that third-party providers comply with mark...
Nigerian cryptocurrency exchange Bitmama has temporarily suspended its virtual Mastercard service due to unforeseen issues with its providers. The current situation comes as African fintech companies are facing card service challenges, including exchange rate fluctuations, chargeback fraud and insufficient funding. Some fintech companies blame provider issues, while others cite high costs and limited revenue opportunities. Despite these obstacles, some fintech companies such as Bitmama and Chipp...
Nigeria's proposed Investment and Securities Bill, which proposes prison sentences for Ponzi scheme operators, has been welcomed by cryptocurrency industry players who hope the move will help cleanse the sector of its reputation.
According to Tree News, the Nigerian government has dropped charges against Binance executives.
Binance compliance chief Tigran Gambaryan failed to appear in Nigerian court due to serious illness, delaying the trial for months. Tigran Gambaryan's lawyer, Mark Mordi, requested an adjournment to check his client's health. The judge agreed and postponed the trial until October 25. Binance financial crime compliance chief Tigran Gambaryan has been detained in Nigeria since February. A Nigerian court last week rejected a request for bail for Binance executive Tigran Gambaryan due to illness. U....
On October 16th, according to the local time of the Nigerian emergency response agency on the 16th, a fuel tanker explosion accident in the north of the country has killed at least 140 people. According to local police, the fuel tanker explosion accident occurred on the evening of the 15th local time in Nigeria.
On October 11, a Nigerian court denied Binance executive Tigran Gam baryan's request for bail due to illness, which triggered a strong opposition from Binance. In a statement, a Binance spokesperson said: "We are deeply disappointed by the court's decision to deny Tigran bail, especially in light of his deteriorating health. He has been illegally detained for more than 220 days. Ti gran did not go to Nigeria as a decision maker and there is no reason to continue his detention...
12:00-21:00 Keywords: FTX, Nigeria, MicroStrategy, ACDE Conference 1. Neiro terminates its partnership with market maker Gotbit. 2. FTX clients demand more compensation from hedge fund Olympus Peak. 3. The Nigerian court rejected the bail request of Binance executives due to health issues. 4. Michael Saylor: MicroStrategy aims to become the leading Bitcoin bank. The 198th Ethereum ACDE Conference: or launch Pectra Devnet 4 by October 17. 6. Nearly $36 million fwDETH phishing perpetrators exchang...
On Friday, a Nigerian court rejected a bail application by Binance executive Tigran Gambaryan, who is on trial for alleged money laundering and currency manipulation, on health grounds, while instructing the prison to send him to a hospital for treatment. Binance's financial crime compliance chief, Tigran Gambaryan, has been held in the country since February, and U.S. lawmakers say he has been unjustly detained. His lawyer has repeatedly cited his poor health and said he needed surgery.
The Nigerian Securities and Exchange Commission (SEC) has vowed to crack down on fraud, money laundering, and market manipulation in the crypto industry. SEC Director-General Emomotimi Agama stressed the importance of educating investors. Lagos State Governor Babajide Sanwo-Olu expressed support for regulation of the crypto industry. Nigeria's securities regulator has vowed to crack down on fraud, money laundering and market manipulation in the crypto industry. SEC Director General Emomotimi Aga...
The Central Bank of Nigeria (CBN) injected US $543.50 million into the Nigerian foreign exchange market between September 6 and 30 in response to currency volatility. The bank attributed the volatility to strong import demand and seasonal factors. Nigeria is facing a shortage of foreign exchange and the government has taken various measures to respond, including restricting foreign currency withdrawals and considering selling oil in local currency.
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