Nigerian Court fines two crypto firms over illegal USDT to naira transaction

Nigerian authorities have fined two crypto firms $30,000 for conducting USDT to naira transactions without a license. According to local Nigerian media outlet Nairametrics, the Federal High Court in Abuja convicted two crypto companies, Egomsinachi Road Autos Limited and Chimera…

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Nigeria Threatens Crypto Knockout: P2P Ban Looms In Fintech Feud

Nigeria’s once-tepid stance on cryptocurrency has taken a sharp turn towards prohibition. The Nigerian government, citing concerns over Naira manipulation, is proposing a ban on P2P (Peer-to-Peer) trading platforms that utilize the local currency.

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Nigerian officials sought secret crypto settlement, Binance CEO says

Binance CEO Richard Teng claims officials in Nigeria approached the exchange’s team and offered a secret crypto settlement proposal. Teng shared details of this shocking development in a blog post that highlights the ongoing legal troubles around Binance official Tigran Gambaryan.

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Nigeria to Ban P2P Crypto Trades Amid Economic Turmoil

The Nigerian SEC moves to ban P2P crypto trading to protect the naira.

The post Nigeria to Ban P2P Crypto Trades Amid Economic Turmoil appeared first on BeInCrypto.

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Nigerian BICCoN calls for crypto exchanges round table with SEC chief amid crackdown

Recently, crypto exchanges like Binance have found themselves under serious scrutiny in Nigeria The BICCoN-led initiative for a meeting between the SEC chief and crypto exchanges reflects a commitment to fostering a conducive crypto environment.

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Crypto exchanges to meet Nigerian SEC chief for regulatory talks

The meeting is expected to ignite positive changes that benefit all crypto stakeholders in Nigeria and internationally.

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Nigerian fintechs crack down on crypto, users face account blocks

The Nigerian central bank’s attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening.

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CEO of Nigerian exchange Patricia debunks rumors of company’s shutdown

Fejiro Hanu, CEO of Nigerian crypto exchange platform Patricia, recently took to his X account to refute rumors circulating about the exchange’s imminent closure amid its battle to scale customer fund loss.

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Nigerian Central Bank halts fintech new accounts to curb crypto trading

The Nigerian Central Bank has requested four fintech companies to pause creating new accounts in a bid to block crypto traders from accessing them. As per a report from Nigerian news outlet Techcabal, the Central Bank of Nigeria (CBN) has directed four key players in…

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Nigeria restricts fintech onboarding to stop KYC-evading crypto investors

Nigerian fintech firms OPay, Kuda Bank, Moniepoint and PalmPay were directed to pause the creation of new accounts amid an ongoing audit of their KYC processes.

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Nigerian Crackdown Fake News? CBN Denies Crypto Accounts Freezing Circular

Recent reports informed of an alleged circular released by the Central Bank of Nigeria (CBN). The document warned financial institutions that engaging with cryptocurrencies and facilitating operations for crypto exchanges was prohibited.

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Nigeria denies freezing over 300 P2P accounts on more crypto exchanges amid forex concerns

Nigerian authorities are gearing up for the next phase of their crackdown on crypto trading, targeting peer-to-peer (P2P) platforms like OKX, Binance, KuCoin, and Bybit, according to a trending circular on social media platform X.

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Binance executive remains detained as Nigerian court postpones case

Crypto exchange Binance, currently facing criminal charges in Nigeria, notably lacked legal representation at its April 4 court hearing in the African nation. Instead, the hearing was only attended by its compliance chief, Tigran Gambaryan, who the Nigerian government has detained since the end of February.

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Crypto Houdini? Binance Exec Escapes From Nigerian Custody Amid Tax Evasion Charges – Report

One of the two senior executives from crypto exchange Binance has escaped from the Nigerian authorities as criminal charges were pressed against him. The executive was first detained on February 26 as part of Nigeria’s actions against the exchange.

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Kenya and US crypto groups unite in demand for release of detained Binance execs in Nigeria

Notable pro-crypto pressure groups in Kenya and the United States have demanded the release of Binance executives held by the Nigerian government since Feb. 26. Last month, two Binance executives—Tigran Gambaryan and Nadeem Anjarwalla—traveled to Nigeria to address the ongoing issues surrounding the exchange’s operations in the African country.

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Detained Binance Executives to Remain in Nigerian Custody Until Hearing: WSJ

The two men were arrested on Feb. 26 after arriving in Abuja to meet with Nigerian leaders who accused the crypto exchange of crashing the country’s currency, the naira.

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Nigeria’s Crackdown On Binance Escalates: Authorities Demand For Top 100 User Details

Nigeria has initiated a bold request to Binance, the world’s leading crypto exchange. The Nigerian government has called upon the exchange to provide comprehensive data on its top 100 users based in the country, alongside a detailed transaction history spanning the last six months.

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Nigeria Detains Binance’s Key Crypto Crime Investigator, Details Inside

Two senior executives from cryptocurrency exchange Binance, Tigran Gambaryan and Nadeem Anjarwalla, have been detained against their will by Nigerian authorities, according to a recent report by Wired.

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Nigeria reportedly detained Binance execs after inviting them to discuss issues with crypto

Nigerian officials have reportedly detained a former U.S. federal agent and a regional manager for Africa who both work for Binance. Nigeria has reportedly detained Binance’s top crypto crime investigator as well as a regional manager shortly after they both…

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Nigeria’s SEC proposes guidelines for crypto firms to fight criminals

The Nigerian securities regulatory authority has introduced new guidelines for crypto service providers.

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Nigeria to tighten crypto regulation in wake of Binance disputes

The Nigerian Securities and Exchange Commission (SEC) has disclosed plans to introduce new regulations for crypto operators following recent challenges with Binance. New regulations The planned regulation would include licensing, registration, and screening guidelines for digital and virtual asset services providers (VASPs).

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Binance ends Nigerian Naira services amid government crackdown

Crypto exchange Binance said it would discontinue all services associated with the Nigerian local fiat currency, Naira (NGN), in a phased approach this week, according to a Mar. 5 statement. The Richard Teng-led crypto platform stated that its Nigerian users would not enjoy several NGN-related services, including deposits, withdrawals, conversions, spot trading, P2P, Auto-invest, and […] The post Binance ends Nigerian Naira services amid government crackdown appeared first on CryptoSlate.

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Nigeria Detains Binance Executives as It Investigates the Crypto Exchange: Reports

Binance executives were intercepted by Nigerian officials and their passports seized after they landed in the country.

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Binance drops Nigerian naira from P2P platform amid forex manipulation concerns

Crypto exchange Binance has removed Nigeria’s fiat currency, Naira, from the national currencies it supports on its peer-to-peer platform, according to CryptoSlate sources. Meanwhile, the Financial Times reported that two Binance executives have been detained in the country, with their passports seized.

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Coinbase CEO Dispels Rumours: No Government Ban On Nigerians From The Crypto Exchange

Coinbase, a prominent crypto exchange headquartered in the United States, has debunked allegations that it was instructed by the Nigerian government to prevent its citizens from using its crypto trading services.

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Coinbase challenges Nigeria’s governmental restriction claim

The Nigerian government has mandated telecom and internet service providers to restrict access to various crypto exchanges, including Binance, Coinbase, and Kraken. 

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Nigeria reportedly plans to ban Binance, other crypto firms over their ties to forex

The Nigerian government is said to be considering blocking Binance and other crypto firms to prevent forex market manipulation and illicit fund movement. Crypto exchange Binance and other digital asset trading platforms are risking being banned in Nigeria, as the…

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Nigeria’s Central Bank Fleshes Out New Rule Allowing Crypto Firms’ Access to Bank Accounts

Nigerian banks are still restricted from holding or trading crypto on their own behalf, despite regulators’ softening stance toward digital assets.

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Nigerian Politician In Custody For Crypto Exchange Breach

A Nigerian politician, Ambassador Wilfred Bonse, has been apprehended by the Nigeria Police Force (NPF) in connection to a security breach suffered by crypto exchange Patricia Technologies Limited. This development comes as Patricia defaults on its debt repayment schedule to customers following a $2 million exploit in 2022.

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Nigerian police arrest politician linked to crypto hack

The Nigerian police arrested one of the suspects allegedly involved in the hack of crypto trading outfit, Patricia Technologies.

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Arrest made in Nigeria’s Patricia Technologies crypto wallet heist

A spokesperson for the Nigerian Police Force said that Wilfred Bonse, a Nigerian politician, has been arrested for the theft, the conversion of cryptocurrency wallets, and the unauthorized fund diversion from Patricia Technologies.

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Nigerian Crypto Twitter Up In Arms As Prominent Influencer Rug Pulls STIMMY Coin

Unfortunately, rug pulls have become synonymous with the crypto market as scammers see it as an opportunity to make quick cash. One such rug pulls has hit the Nigerian crypto X (formerly Twitter) community, where what is assumed to be one of the most trusted influencers rug-pulled a project that raised $300,000 in its presale. […]

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Cryptocurrency adoption surges in Nigeria, report finds

The significant depreciation of the Nigerian naira has led to a growing interest in crypto. According to the report, Nigeria's young and tech-savvy population has eagerly embraced cryptocurrencThe post Cryptocurrency adoption surges in Nigeria, report finds appeared first on AMBCrypto.

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Nigerian influencers join the crypto experience with Sportsbet.io

Sportsbet.io has announced the signing of three high-profile Nigerian personalities as part of the ongoing campaign. TV and radio star Dadaboy, cryptocurrency coach Tola Joseph Fadugbagbe, and bettingThe post Nigerian influencers join the crypto experience with Sportsbet.io appeared first on AMBCrypto.

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This Nigerian Crypto Exchange Valued At $50 Million Is Raising Suspicions, Here’s Why

Nigerian crypto exchange Patricia has raised suspicions following its newly launched Patricia Stablecoin labeled PTK and its unilateral decision to convert users’ funds to its stablecoin without its users’ consent.

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Binance's Activities Are Illegal in Nigeria, Securities Regulator Says

The regulator also ordered all crypto platform providers to stop reaching out to Nigerian investors.

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Disgraced U.S. Congressman George Santos Involved Crypto in Nigerian Prince-Like Scheme: NYT

A source told The New York Times that Santos and two others appeared to try a crypto-centric version of the classic Nigerian prince email scam.

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Nigeria’s social payments app, Bundle, shutting down crypto exchange

Bundle, a Nigerian social payments app, is winding down its cryptocurrency exchange division

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Nigerian social payments app shuts down crypto exchange services

The company said it would shut its exchange services as part of the shareholders’ decision to restructure the business to focus on Cashlink.

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US Prosecutors Slap Celebrity Crypto Scammer With Eight-Year Prison Term

A Nigerian crypto scammer was sentenced to over eight years in federal prison for defrauding US businesses. The post US Prosecutors Slap Celebrity Crypto Scammer With Eight-Year Prison Term appeared first on BeInCrypto.

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Nigerian crypto tax move is ‘premature’ — Local stakeholders

Industry stakeholders seek clarity regarding the implications of taxation and its connection to the recognition of cryptocurrency and associated procedures.

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Nigerian central bank maintains stance on crypto withdrawal restrictions

Nigeria's cryptocurrency landscape has experienced ongoing turmoil, with citizens embracing digital assets while the government remains steadfast in its opposition.

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Nigerian crypto company suspends withdrawals after BTC and naira compromise

Efforts are underway to recover compromised assets and enhance security measures as users express concerns on social media.

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Nigeria's SEC doesn’t want digital tokens backed by crypto

The Nigerian Securities and Exchange Commission will reportedly allow exchanges to list tokens backed by equity, debt, and property. The regulator is not open to allowing tokenized coin offerinThe post Nigeria's SEC doesn’t want digital tokens backed by crypto appeared first on AMBCrypto.

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Crypto exchange Roqqu receives South African approval to expand operations

Nigerian crypto exchange Roqqu has received the green light to operate in South Africa, providing on and off-ramps to South Africa’s rand currency.

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Nigerian crypto payment startup shuts down, offers IP for sale

Nigerian crypto and Web3 company Lazerpay shuts down after failing to raise funds and advises users to withdraw before April 30.

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Nigerian crypto foreign investment is at a record low: Study

Foreign direct investment in Nigeria fell by 33% last year due to a severe shortage of dollars, which discouraged crypto companies from expanding into the country.

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Paxful shutdown hits Nigeria harder than the rest of the world, here’s why

Paxful’s shutdown has left its global community heartbroken, but it has significantly impacted the Nigerian community, where it pioneered P2P crypto use.

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Nigerian crypto exchange Roqqu receives European virtual currency license

The move allows Roqqu to operate in 30 countries and broaden its services within one of the world’s largest crypto markets.

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