2024-3-1 18:53 |
The exchange allegedly enabled funds to leave Nigeria while the country is trying to restrict capital outflows.
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Binance executives were intercepted by Nigerian officials and their passports seized after they landed in the country.
2024-3-1 19:37 | |
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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.
2024-2-29 21:47 | |
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Central Bank of Nigeria Governor Dr. Olayemi Cardoso revealed that illegal activities plagued Binance Nigeria over the past year. He stated that unidentified individuals and sources moved over $26 billion through the exchange in 2023.
2024-2-29 18:28 | |
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The country's facing a crippling foreign exchange crisis and looking for ways to limit capital outflows, including via crypto.
2024-2-29 16:56 | |
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Nigerian officials target Binance amid a broader clean-up of the country's forex markets. The post Nigeria Says This Exchange Enables Currency Manipulation by Criminals appeared first on BeInCrypto.
2024-2-23 19:30 | |
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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…
2024-2-22 12:47 | |
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Pan-African exchange Yellow Card has said it will seek licensing in the country.
2024-1-2 17:58 | |
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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.
2023-11-26 20:00 | |
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The Central Bank of Nigeria (CBN) is suspected of manipulating Binance's peer-to-peer exchange rates, causing USDT to fall 30% against the Nigerian Naira. The post Has Central Bank of Nigeria Declared War on Binance P2P Trading? appeared first on BeInCrypto.
2023-11-3 16:45 | |
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Patricia clarified that it will operate similarly to an IOU (I owe you) document, serving as a means for the exchange to acknowledge its debt to its users.
2023-8-30 13:52 | |
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Binance faces increasing regulatory scrutiny as a Nigerian trade union calls for the Federal Government of Nigeria to ban the exchange’s operation within the West African nation. In a Tuesday Interview with the News Agency of Nigeria (NAN), Aminu Gwadabe, President of the Association of Bureaux De Change Operators of Nigeria (ABCON), expressed that the […]
2023-8-10 05:00 | |
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ABCON, responsible for formulating regulatory frameworks for naira-dollar exchange, is advocating for Binance to be banned in Nigeria
2023-8-10 22:16 | |
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Nigeria’s Securities and Exchange Commission (SEC) has warned Nigerians against investing or trading on Binance, the world’s largest crypto exchange by trading volume. The Commission, as part of its “statutory mandate of investor protection,” warned local investors of the risk of trading in crypto assets, tagging it as a “high level of risk” which may […]
2023-8-2 03:00 | |
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Bundle, a Nigerian social payments app, is winding down its cryptocurrency exchange division
2023-7-23 10:51 | |
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Binance CEO Changpeng Zhao has taken to Twitter to deny any association with Binance Nigeria Limited which has been mistaken as part of the exchange. As a result, the exchange has now issued a cease and desist notice to the impersonator(s).
2023-6-20 19:00 | |
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Binance CEO Changpeng ‘CZ’ Zhao said his exchange had issued a cease and desist notice to an unaffiliated ‘scam’ entity, “Binance Nigeria Limited,” according to a June 18 tweet.
2023-6-19 12:40 | |
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This comes after the Nigerian Securities and Exchange Commission released a circular stating the illegality of Binance Nigeria Limited in the country.
2023-6-19 13:58 | |
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The Securities and Exchange Commission (SEC) of Nigeria has officially deemed the operations of Binance Nigeria, a subsidiary of the world's largest crypto trading platform Binance, illegal
2023-6-10 18:40 | |
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In a significant move, Nigeria’s market regulator has issued a directive to suspend the operations of Binance, the largest cryptocurrency exchange globally, within the country. The regulator stated that the exchange’s local unit, which had been attracting Nigerian investors through its website, was operating illegally.
2023-6-12 17:41 | |
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The order against Binance Nigeria Limited follows U.S. SEC allegations that the exchange had violated federal securities laws.
2023-6-10 15:19 | |
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A spokesperson for Binance, which faces a U.S. SEC allegations that include operating an unregistered exchange, said the Nigerian company is not affiliated with the firm.
2023-6-12 15:19 | |
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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.
2023-5-1 18:04 | |
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Nigeria’s Securities and Exchange Commission (SEC) is reportedly looking to license digital exchanges to enable the issuance of asset-backed tokens in the country.
2023-5-1 16:54 | |
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The Nigeria Securities and Exchange Commission (SEC) will allow tokenizing assets like equities, property, and debt. According to a Bloomberg May 1 report, the Nigerian SEC’s head of securities and investment services, Abdulkadir Abbas, said the financial regulator is processing applications for digital exchanges and firms.
2023-5-1 16:45 | |
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Nigeria has put forward a significant legislation design that will further facilitate cryptocurrency adoption in the country with over 200 million inhabitants. Why this matters: If the Investments and Securities Act, 2007 (Amendment) Bill passes, the Nigerian securities and exchange commission (SEC) will recognize cryptocurrencies and other digital assets as capital for investment.
2022-12-25 15:03 | |
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Nigeria is set to pass a bill that can recognize Bitcoin (BTC/USD) as well as cryptocurrencies. The main goal is to keep up with global practices, and if the Investments and Securities Act 2007 (Amendment) Bill is signed into law, it could enable the local Securities and Exchange Commission to recognize cryptocurrency and other digital […] The post Top cryptocurrencies that have mainstream adoption potential appeared first on Invezz.
2022-12-19 16:17 | |
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FTX's shocking downfall continues to affect companies with ties the beleaguered cryptocurrency exchange.
2022-11-15 17:16 | |
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The biggest European cryptocurrency exchange quickly moves from one partnership to another. WhiteBIT has recently become an international exchange with offices in Spain, Ukraine, Georgia, Nigeria, and Turkey.
2022-11-11 11:00 | |
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Authorities in Nigeria and cryptocurrency exchange Binance Holdings Ltd. are in talks tto create a digital economic zone that will support blockchain technology adoption by businesses in the West African country.
2022-9-8 00:59 | |
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The Nigerian government has tapped leading cryptocurrency exchange Binance to help develop a crypto-friendly digital economic zone in the country. Announced on Saturday by the Nigeria Export Processing Zone Authority (NEPZA), the project is targeted at promoting digital entrepreneurship around blockchain technology.
2022-9-5 19:15 | |
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Binance, the world’s largest exchange is in talks with the Nigeria Export Processing Zones Authority (NEPZA) over plans to create a special economic zone focused on crypto and blockchain-related businesses.
2022-9-5 17:22 | |
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The west African country has held discussions with Binance about creating something similar to Dubai’s virtual commercial city.
2022-9-5 12:44 | |
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Nigeria’s exchange rate system dominated by the official and black-market rates now has a “crypto exchange rate” as a competitor since Nigerians have been accumulating crypto since 2020 due to low confidence in the Naira, the Bloomberg reports.
2022-7-28 06:00 | |
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The Nigerian government has entered a three-year Intellectual Property Right (IPR) partnership with Developing Africa Group to launch a country-wide wallet and an IP exchange marketplace. The post Nigeria and Developing Africa Group ink deal to launch a crypto project on Algorand appeared first on CryptoSlate.
2022-5-26 10:30 | |
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The Securities Exchange Commission (SEC) of Nigeria has put out new rules that seek to regulate digital assets in the country, signaling the full acceptance of crypto assets in Africa’s most populous nation.
2022-5-24 00:49 | |
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Nigeria’s Securities and Exchange Commission has released new rules to guide the issuance, custody, and exchange of digital assets, while also classifying them as securities. The post Nigeria’s SEC Issues New Guidance for Crypto, Classifies Them as Securities appeared first on BeInCrypto.
2022-5-15 15:00 | |
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The largest crypto exchange by trading volume, Binance, is under fire from its users in Nigeria over the “unreasonable” closure of their accounts amidst other inappropriate activities carried out by the platform.
2022-1-28 13:00 | |
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Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to source this resource on the parallel market, a former official with the Lagos Chamber of Commerce and Industry (LCCI) has said.
2021-7-13 15:30 | |
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T. E Markets Limited, has launched its own cryptocurrency; XTEMCoin with presale starting on Monday 28th, June on their website, www. tem-coin. com. T. E Markets Ltd is a Holding Company registered in Seychelles with running projects in South Africa, Zimbabwe, Zambia, Nigeria, Kenya, the Democratic Republic of Congo, United States of America and soon in Ghana.
2021-7-3 15:32 | |
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Nigeria’s use of multiple exchange rates regimes may have contributed to a rise in the country’s inflation rate, the latest World Bank report has said. In addition, the report says ongoing restrictions on the use and movement of foreign exchange are “further pushing up prices of food and agricultural inputs like fertilizer.” Misaligned Exchange Rates […]
2021-6-22 14:30 | |
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LAGOS, Nigeria – On what could be tagged as the worst day of crypto this year, the African-founded exchange, Quidax, raised over 7,772 BNB from the public sale of its token, QDX. The crypto market suffered its first major dip in 2021 on Thursday, May 19 with Bitcoin dropping as low as $30,000 from highs … Continued The post African Crypto Exchange Quidax Raises Over $3 Million appeared first on BeInCrypto.
2021-5-25 12:57 | |
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In a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419. 75 nairas on May 14, 2021. However, by close of business the naira had recovered and was trading around 411.
2021-5-17 16:30 | |
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According to the latest data from the World Bank, international money transfers into Nigeria dropped by nearly 40% from $23.8 billion recorded in 2019 to $17.2 billion in the past year. Yet despite this fall, remittances, which account for 4% of the country’s GDP, still remain an important source of foreign exchange for the oil-rich […]
2021-5-14 10:00 | |
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After a successful run in Nigeria, Quidax announced global expansion plans and the launch of its native token, QDX.
2021-5-11 21:40 | |
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Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use of dollars exceeds IMF’s 30% threshold. Exchange Rate Volatility and Currency […]
2021-4-23 13:30 | |
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Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto guidelines it issued in September 2020 remain suspended. Crypto Guidelines Set […]
2021-4-17 04:30 | |
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The Securities and Exchange Commission of Nigeria says it is working with the central bank to create a legal framework for cryptos and digital assets.
2021-4-17 14:09 | |
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Two Nigerian regulatory bodies, the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), have agreed to conduct research to regulate and govern the sector’s booming Bitcoin and crypto market.
2021-2-24 07:00 | |
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Nigeria’s Securities and Exchange Commission says it is committed to creating a clear-cut regulatory framework for cryptos in the country.
2021-2-23 13:10 | |
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The detained Binance exec leaves Nigeria after all charges were dropped.
Nigeria's government has withdrawn the money laundering charges against Binance executive Tigran Gambaryan, local news outlet Punch reported first on Wednesday.
The Nigerian government has officially dropped all charges against Tigran Gambaryan, a Binance Holdings executive, who had been detained since February. On Oct. 23, the Nigerian Economic and Financial Crimes Commission (EFCC) announced the case withdrawal at the Federal High Court in Abuja.
Binance has expressed disappointment over a Nigerian court’s decision to deny bail to its executive, Tigran Gambaryan. On Oct. 11, the High Court in Abuja rejected Gambaryan’s latest bail request, citing procedural issues.
Bitcoin briefly fell below $59,000 last night before rebounding to reclaim the critical $61,000 level in a rapid V-shaped recovery. Historical data indicates that similar swift recoveries on a 30-minute resolution have consistently led to either higher gains or sideways trading, with few instances of further declines.
The Binance executive has been detained in Nigeria since February.
During a recent AMA, Binance CEO Richard Teng addressed accusations of misusing Launchpool funds, discussed the HBO documentary on Bitcoin’s creator, and outlined the company’s efforts against crypto scams.