CRYPTOCURRENCIES

The Central Bank of Nigeria has written to all banks in the country Nigeria to stop the use of foreign currencies as collateral for naira loans. It disclosed this in a circular uploaded to its website on Monday. The apex bank said it had observed the use of FCY by …

The Federal Government, on Monday, contacted the International Criminal Police Organisation and issued an arrest warrant for the apprehension of one of the detained executives of a global crypto-currency firm, Binance, Nadeem Anjarwalla, who escaped from lawful custody on Friday. It was also gathered from the Office of the National …

Binance, a cryptocurrency platform, has reacted to the report that one of its detained executives, Nadeem Anjarwalla, escaped from custody in Nigeria. The spokesperson for Binance confirmed Anjarwalla’s escape in a statement sent to the DAILY POST on Monday. DAILY POST reports that Anjarwalla, Binance’s Africa regional manager, escaped from custody …

The Central Bank of Nigeria has issued a circular to Bureau De Change operators (BDCs) informing them that they sold $10,000 to each BDC at a rate of N1,251/$1. In a circular seen by Nairametrics, each BDC is to sell the dollars to eligible customers at a rate not exceeding …

Nigerians trading on the Binance platform may soon be guests of the Economic and Financial Crimes Commission (EFCC). On Monday, the Federal High Court in Abuja ordered Binance Holdings Limited to provide the EFCC with detailed information on all persons from Nigeria trading on its platform. The move follows a …

Forex turnover at the official foreign exchange market has increased to $11.43bn within over two months of trading following fresh reforms by the Central Bank of Nigeria, findings by the PUNCH have shown. An analysis of reports and data of daily forex transactions recorded on the website of FMDQ Securities, …

Cryptocurrency exchange, Binance has announced that it will stop providing all services related to the Nigerian naira (NGN) The exchange’s decision comes amid Nigeria’s crackdown on the global crypto exchange. According to the platform’s announcement on Tuesday, March 5, starting at 8:00 UTC on March 8, all remaining NGN balances …

I understand that what I am about to explain will earn me insults from a selected few individuals because the same culprits are active here on Nairaland, so I am ready for that as well. If you go to Binance P2P, there is a heavy manipulation going on there, and …

The Nigerian government has blocked the online platforms of Binance and other crypto firms to avert what it considers continuous manipulation of the forex market and illicit movement of funds. Sources within the major telecommunication companies in the country told PREMIUM TIMES Wednesday evening that the Nigerian Communications Commission (NCC) …

The naira Tuesday slid further at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. Bureau De Change (BDC) hubs were raided in Abuja, Lagos and Kano and some operators were arrested. Despite the raids, however, the naira plunged further with a …