The Nigeria Securities and Exchange Commission, SEC, has cautioned potential investors to avoid $Davido’s coin linked to Nigerian popular singer, David Adeleke aka Davido. SEC said investing in $Davido’s coin was risky because the meme coins lack fundamental value and are purely speculative. A statement by SEC management on Friday said it does not recognize…
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AS the controversy over the recent embarrassing escape from custody of an executive of the cryptocurrency exchange, Binance, Nadeem Anjarwalla through the Nnamdi Azikwe International airport rages on, key players across the country’s aviation sector have described the development as confirmation of the lack of synergy amongst security agents at the airports. Nadeem Anjarwalla, the…
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The detained Binance executive, Tigran Gambaryan, has sued the National Security Adviser (NSA) Nuhu Ribadu, and the Economic Financial Crimes Commission (EFCC) over the alleged violation of his fundamental rights. Mr Gambaryan, in the originating motion dated and filed 18 March by his lawyer, Olujoke Aliyu, from Aluko and Oyebode Law Firm, sought five reliefs…
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The Central Bank of Nigeria (CBN) on Thursday announced an increase in the capital base for different categories of banks in the country. A statement by the CBN’s Acting Director of Corporate Communications, Hakama Ali, said the capital base of banks with international authorisation had been increased to N500 billion while that of national banks…
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A Federal High Court, Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission (EFCC) with comprehensive data or information on all persons from Nigeria trading on its platform. Justice Emeka Nwite granted the interim order after ruling on the ex-parte motion moved by the EFCC’s lawyer, Ekele Iheanacho. “The applicant’s…
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. Top Officials Arrested in Nigeria, Passports Seized Authorities in Nigeria have slammed $10 billion in penalties on the global cryptocurrency exchange platform Binance, alleging the country has incurred massive losses due to the platform’s activities. The Nigerian government detained two Binance Holdings Ltd. executives, days after the central bank governor said that the nation…
The Nigerian government has ordered internet service providers to block access to the websites and apps of major cryptocurrency trading platforms including Binance, Coinbase, and Kraken. Authorities said the move aims to crack down on the alleged use of these platforms by currency speculators and money launderers to manipulate the foreign exchange market and facilitate…
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The Central Bank of Nigeria has put an end to the ban on cryptocurrency transactions in Nigeria. The apex bank said on Friday that it had changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions. This is contained in a circular dated December 22,…
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