Nigeria hatches a crooked plan to attract foreign investors
Nigeria is getting ready to launch a massive $10 billion diaspora fund. They’re targeting Nigerians living abroad to pour money back home into big sectors like roads, health, and schools to boost the country’s growth. The government, through the Ministry of Industry, Trade, and Investment, announced late Thursday that they’re looking for asset managers to […]
Binance executive’s bail hearing delayed in Nigeria
Tigran Gambaryan, a high-ranking executive with Binance, faces continued imprisonment in Nigeria as his bail hearing has been pushed back to May 17. This postponement was ordered by an Abuja court, which will not address his bail until his trial on money laundering charges begins. Binance and the Turmoil in Abuja Gambaryan, an American and […]
Fugitive Binance executive Nadeem Anjarwalla faces extradition to Nigeria
The Federal Police Service of Kenya is underway in extraditing Nadeem Anjarwalla, a high-ranking Binance official who escaped from custody in Nigeria. According to the authoritative source of the Nigerian government relayed by the International Criminal Police Organisation, the gangster money launderer Anjarwalla will be delivered to Nigerian authorities within the current week, Punch reports. […]
Nigerian tax evasion hearing for Binance pushed to May
The criminal case of cryptocurrency exchange Binance and two of its main employees will be adjourned to May 17. The Nigerian court initiated this postponement because Binance had not been served formal charges. The trial, however, was undertaken in response to the tax evasion accusations leveled against the defendant by the Federal Inland Revenue Service […]
Nigeria is no longer Africa’s largest economy – Who is surprised?
Nobody saw it coming. Or did they? Nigeria, the giant of Africa, has stumbled down to fourth place this year in the ranking of Africa’s largest economies. Anybody shocked? No? Oh okay then. Well just behind South Africa, Egypt, and Algeria, Nigeria is expected to post a GDP of $253 billion, overshadowed by South Africa’s […]
Nigerian court delays Binance executive bail hearing again
A Nigerian legal court postponed the bail request of the Binance executive Tigran Gambaryan, still held at the Kuje government center. The economy and Financial crimes commissioner applied to the Federal High Court in Abuja, presided over by Justice Emeka Nwite, to demand a time extension for filing a robust response to new allegations added […]
Could Nigeria’s bullying of Binance permanently ruin Web3?
Nigeria’s clash with Binance is setting off alarms across the Web3 sector as investors pull out, fearing government hostility could jeopardize their investments. According to Lucky Uwakwe, chairman of Nigeria’s Blockchain Industry Coordinating Committee, the case against Binance is painting the Nigerian market as unsafe for business. Turmoil and Trepidation Investors are spooked, and it’s […]
It’s time we talk about Nigeria and its Naira – What is going on?
Nigeria, widely-considered the giant of Africa, is once again at the epicenter of regional economic forecasts, as it dictates the tempo for Western and Central Africa. This time around, the World Bank estimates that economic activities in these regions could ramp up by 3.7% throughout 2024. So these guys hinge a huge chunk of that […]
Detained Binance official in Nigeria denies money laundering accusations: Report
A senior official at Binance, Tigran Gambaryan, was reported to have pled not guilty to allegations of money laundering in a recent court appearance, said a local media report Legal challenges for Binance executives in Nigeria Gambaryan was detained in Nigeria since February together with his colleague Nadeem Anjarwalla, following the claim by Nigerian authorities […]
AI Framework in Nigeria Set to Revolutionize National Development
Nigeria is at the forefront of artificial intelligence (AI) innovation, convening 120 experts comprising researchers, startups, and stakeholders. This program, led by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, will use countrywide AI implementation guidelines. The National Artificial Intelligence Strategy Workshop, scheduled for April 15 to 18 in Abuja, will host […]
Binance executive’s case in Nigeria adjourned to April 19
A Nigerian court has reportedly adjourned the case of Binance executive Tigran Gambaryan to April 19. Gambaryan was detained in connection to naira manipulation and tax evasion offenses leveled on Binance by the federal government of Nigeria. According to the report on Bloomberg, the United States-based executive will remain in Nigeria’s custody until his next […]
Binance-Nigeria feud takes a dramatic [and hilarious] turn
![Binance-Nigeria feud takes a dramatic [and hilarious] turn](https://www.cryptopolitan.com/wp-content/uploads/2024/04/DALL·E-2024-04-04-21.25.10-Visualize-a-humorous-and-exaggerated-scene-that-captures-the-essence-of-the-escalating-but-comical-dispute-between-Binance-and-Nigeria.-Imagine-a-cart.webp)
When drama and humor collide in the crypto world, it’s a spectacle no one wants to miss. The recent feud between Binance, the titan of cryptocurrency exchanges, and Nigerian authorities, takes the cake for being both intensely dramatic and unintentionally hilarious. The core of this uproar? The detention of a Binance contractor in Nigeria, sparking […]
Binance executives sue Nigeria – What’s the plan here?
It seems like the drama between Binance and the Nigerian government just took a turn into the courtroom. When two top dogs from the world’s biggest crypto playground landed in Nigeria this February, they weren’t expecting a VIP tour of the local legal system. Yet, here we are, Tigran Gambaryan and Nadeem Anjarwalla, two high-fliers […]
Nigeria sets $359 million minimum capital mandate for banks
Nigeria just cranked up the heat on its banking sector, big time. The Central Bank of Nigeria has decided it’s time to beef up the financial muscle of its banks. In a country riddled with so many challenges—think rampant inflation, a currency that’s seen better days, and an economy that could use a serious shot […]
Nigeria raises interest rate to 24.75% amid inflation, currency crisis
Nigeria’s financial guardians at the Central Bank of Nigeria have decided it’s time to turn up the heat and crank the interest rate up by a whopping 200 basis points. That’s right, we’re now sitting at a cozy 24.75%, up from the previous 22.75%. This isn’t just another adjustment; it’s a bold move as Africa’s […]
Nigeria throws a brand new accusation at Binance as drama continues
The heat just got turned up a notch between Nigeria and Binance, the crypto exchange that is seeing more drama than a daytime soap opera. This time, Nigeria’s slinging some serious mud, accusing Binance and a couple of its top dogs of dodging taxes, right as one of them pulled a Harry Houdini and “disappeared.” […]
Binance faces tax evasion lawsuit from Nigerian government
The Federal Government of Nigeria has officially lodged charges against the global cryptocurrency exchange Binance. The accusations, filed at the country’s High Court on Monday, include several counts of tax evasion. The Federal Inland Revenue Service (FIRS), Nigeria’s tax authority, spearheads the case, alleging Binance’s failure in various tax obligations. The charges against Binance encompass […]
Binance executive flees custody in Nigeria amid charges
Nadeem Anjarwalla, a high-ranking executive at cryptocurrency exchange Binance, has reportedly escaped from custody in Nigeria. He and his colleague, Tigran Gambaryan, found themselves in legal turmoil, accused of tax evasion among other charges. Despite the expiry of their detention order, Anjarwalla remains unaccounted for. The escape happened from a guest house in Abuja, raising […]
Nigeria is about to face Joe Biden’s wrath over detaining U.S. citizens
The brewing storm between the United States and Nigeria over the detention of two U.S. citizens is thickening, and at the heart of this escalating diplomatic tension, President Joe Biden’s administration finds itself under a magnifying glass. The situation has reached a boiling point with the detention of Tigran Gambaryan, a top executive at Binance […]
Nigerian SEC proposes hefty fee increase for crypto exchange registration
In a significant development for the crypto industry in Nigeria, the Securities and Exchange Commission (SEC) has announced a proposal to amend the regulations that govern platforms offering crypto services. The proposed changes include a substantial increase in the registration fees for crypto exchanges. Under the new guidelines, the fee for registering a crypto exchange […]
NCC Calls for Responsible Use of AI in Nigeria
The Nigerian Communications Commission (NCC) has issued a clarion call to developers in the field of Artificial Intelligence (AI), urging them to embrace transparency in their practices. This directive aims to ensure fair and responsible deployment of AI systems to tackle various challenges encountered in the country. NCC advocates transparency and privacy in AI At […]
Nigeria holds Binance execs, eyes March 20 court hearing
In a recent development reported by the Wall Street Journal, two high-ranking officials from Binance, the global cryptocurrency exchange, are to remain in detention in Nigeria. The officials, American Tigran Gambaryan and U.K.-Kenyan Nadeem Anjarwalla, are scheduled for a court hearing on March 20. Their arrest on February 26 came after their arrival in Abuja […]
The great Nigerian food rush: Economic crisis drives food theft
Nigeria’s already-fragile peace and order are now threatened more than ever as the nation struggles with food theft spiraling amid an economic crisis. People are on the edge because of the rising cost of living and food prices, which has caused attacks on grain warehouses and increasing violent unrest. This trend shows how bad Nigeria’s […]
Binance faces Nigeria demand for top user data amid regulatory tensions
The ongoing confrontation between Binance, the global cryptocurrency exchange, and the Nigerian government has intensified. Nigeria has requested Binance to provide detailed information on its top 100 users in the country. This includes all their transaction histories for the past six months. The development marks a new chapter in the tensions that have seen two […]
Nigeria and Binance are still very much in a fight over naira
The heat is on and the spotlight is firmly on Binance as Nigeria pulls up its sleeves, digging deep into the operations of the world’s largest cryptocurrency exchange. This isn’t just a spat in the park; it’s a full-blown brawl over the future of the naira, Nigeria’s currency, and by extension, its economy. As tensions […]
High cost of living threatens to crush Nigerians
Nigerians are no strangers to adversity, but the current cost-of-living crisis is proving to be a heavyweight champion of problems. Essential food items doubling in price within a blink, highways turning into battlegrounds for hijacked food trucks, and cities simmering with protests. It’s a scene straight out of a dystopian novel, yet for my people, […]
Nigeria reaps billions as Tinubu’s policies start yielding results
Nigeria’s economy is finally starting to show some vigor, all thanks to the fresh strategies rolled out by President Bola Tinubu’s administration. For far too long, the country was like a car stuck in the mud, spinning its wheels but going nowhere fast. But now, it seems like someone’s finally put the vehicle in the […]
So what chances are there left for Nigeria to get into BRICS?
Even after receiving a rejection the first time it applied, Nigeria’s eyes are apparently still set on the BRICS club. It still wants to get in, and it wants to get in now! Yussuf Tuggar, the country’s Foreign Affairs Minister and the man in charge of the mission, tells us he is very serious about […]
Nigeria’s securities watchdog strengthens regulations for crypto service providers
Nigeria’s Securities and Exchange Commission (SEC) is set to implement updated guidelines for cryptocurrency service providers to bolster the integrity of its capital markets. The aim is to thwart criminal activities and safeguard investors from potential risks associated with the crypto market. New guidelines aimed at preventing criminal infiltration Recent reports from Nigerian daily newspaper […]
Binance resolves withdrawal glitch, ensures user fund safety
Binance, the global cryptocurrency exchange, successfully resolved a technical glitch that momentarily hindered its crypto withdrawal services. The issue, which caused concern among a vast number of users, was quickly addressed, leading to the restoration of normal withdrawal operations. Binance’s technical team acted swiftly to rectify the problem, ensuring minimal disruption to its trading activities. […]
Nigeria’s central bank is convinced the President’s economic policies are working
Nigeria’s economic scene is showing signs of revival, sparked by a series of bold financial strategies by the Central Bank of Nigeria (CBN) and the fresh policies of President Bola Tinubu. The country’s currency, the naira, is showing promising strength, and here’s the lowdown on what’s happening and why it’s a big deal. Let’s kick […]
Furious Nigeria asks Binance CEO to show up as soon as possible
Nigeria’s House of Representatives, particularly its Financial Crimes Committee, is on the warpath, calling out Richard Teng, the big boss at Binance. They’ve given him a week to make his way to them by March 4, 2024, no ifs or buts. The reason? They’re eyeballing Binance with suspicion, thinking it might be messing around with […]
Nigerian government denies $10 billion Binance fine rumor
A representative from the Nigerian government has addressed rumors regarding a potential $10 billion fine for the global cryptocurrency exchange Binance. Bayo Onanuga, the Special Adviser to the Nigerian President on Information and Strategy, has refuted claims initially reported by the BBC, asserting that the allegations resulted from a misquotation. The clarification emerged following the […]
Nigeria asks Binance for $10 billion
Nigeria’s government is demanding a jaw-dropping $10 billion in penalties from Binance, the world’s leading cryptocurrency exchange, due to allegations of them causing significant financial losses in the country by manipulating exchange rates. This claim centers around accusations that Binance’s activities have led to a drastic depreciation of the Naira, Nigeria’s currency, by nearly 70% […]
Nigeria’s Naira plummets to new lows after crypto ban
The Nigerian Naira is having a bit of a moment, and not the good kind. Despite the Central Bank of Nigeria (CBN) throwing what could only be described as a financial Hail Mary with a supersized interest rate hike, the Naira decided it was time to explore new depths against the dollar. I’m talking about […]
Binance Faces Scrutiny Over Threats to Nigeria’s Economic Stability
Bayo Onanuga, the presidential spokesman, warned about the potential economic fallout from the operations of Binance, a leading cryptocurrency trading platform. During an appearance on Channels Television’s Politics Today program on Wednesday, Onanuga expressed serious concerns over Binance’s influence on Nigeria’s economy through its control over foreign exchange rates. The Battle Against Binance Economic Sabotage […]
Binance executives arrested in Nigeria amid P2P trade ban
Nigeria’s government recently cracked down on Binance’s operations in the country, which led to the arrest of two top executives from the cryptocurrency exchange. This follows closely after the government decided to ban cryptocurrency exchanges altogether. The Binance officials went to Nigeria after the ban was announced, but as soon as they got there, the office […]
Nigeria’s economic woes might never end: Was the fuel subsidy removal worth it?
The spotlight is on Nigeria, guys, and not for reasons that would make you want to break out into a dance. After decades of enjoying some of the lowest petrol prices on the planet, thanks to hefty fuel subsidies, my motherland decided to cut the cord. This was a monumental shift that had the international […]
Nigeria’s Tech Agency Spearheads AI Integration for Enhanced National Security
Nigeria’s National Information Technology Development Agency (NITDA) is championing the integration of Artificial Intelligence (AI) into the nation’s security infrastructure. This initiative, a focal point of discussions in a confidential meeting with the National Institute for Security Studies (NISS), aims to revolutionize Nigeria’s security strategy through digital innovation. Nigeria Partnerships to Strengthen Security During the […]
Cryptocurrency In Nigeria: Breaking Free From Misconceptions And Embracing The Future
Public perception of cryptocurrency in contemporary Nigerian society and elsewhere often suffers from the dangers of a single narrative. Media portrayals frequently conflate cryptocurrencies with Ponzi schemes and depict crypto traders as reckless gamblers or even fraudsters. While cryptocurrency has faced challenges and concerns about scams, these perceptions are often fueled by half-truths and require […]
