CRYPTOCURRENCIES

Following the directives of the Office of the National Security Adviser and the Securities and Exchange Commission (SEC) that the naira be delisted from Peer-to-Peer Trading platforms, the Exchanges have begun implementing the same. Checks indicate that the naira has been removed as a fiat currency option for transactions on …

A Federal High Court sitting in Abuja has denied the bail application of Tigran Gambaryan, an executive of Binance, cryptocurrency trading company. Delivering the ruling on Friday, the presiding judge, Justice Emeka Nwite held that the bail application was rejected after carefully reviewing the document. Nwite said he resolved that …

Africa is the world’s second-largest and second-most populous continent, known for its diverse cultures, landscapes, and wildlife. It’s home to some of the oldest civilisations, stunning natural wonders like the Sahara Desert and Victoria Falls, and a rich tapestry of languages and traditions. Africa, a home to 57 countries, is …

Nigerian fintech companies have warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities. CREATOR: gd-jpeg v1.0 (using IJG JPEG v80), quality = 82 At least four fintechs—Opay, Moniepoint, PalmPay and Paga—have communicated this development to …

The founder of Binance, the world’s largest cryptocurrency exchange platform, Changpeng Zhao, has been sentenced to four months in prison in the United States (US) after pleading guilty to money laundering charges. LagosTimes Nigeria reports that as part of a deal with US authorities, Zhao resigned from his post late …

The Central Bank of Nigeria (CBN) has issued a circular announcing fresh sales of $10,000 to each licensed Bureau De Change (BDC) operator in the country at N1,021/$. The BDCs are directed, in turn, to sell to eligible end users at a spread of not more than 1.5 per cent …

The Economic and Financial Crimes Commission has instituted a further crackdown on currency speculators and cryptocurrency platforms manipulating the naira, Sunday PUNCH has learnt. Impeccable sources within the commission said the EFCC was not only going after Binance but every cryptocurrency platform and others involved in the manipulation of the …

The Central Bank of Nigeria (CBN) has denied selling foreign exchange (FX) to bureau de change (BDC) operators at the rate of N1,001/$1. CBN, in a post on X on Thursday, said a circular claiming the apex bank announced the sale of $10,000 to BDCs at the rate of N1,001/$1 …

The naira has appreciated by N75.4 against the US dollar in a single day to bounce back in the foreign exchange market. FMDQ data showed that the naira appreciated to N1,072.74 per dollar on Wednesday, compared to N1,148.14 recorded on Tuesday. This represents a 6.56 per cent appreciation on a …

The Central Bank of Nigeria (CBN) has announced it will once again sell dollars to bureau de change operators. This was disclosed in a circular seen on its website.The CBN said it is set to sell $10,000 to each BDCs at N1101/$ and directed the operators to sell at a …