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Changpeng Zhao (CZ) sparked outrage among Nigerians and Web3 influencers after commenting that the Nigerian government had “kidnapped” former Binance employee Tigran Gambaryan. U.S. Threats Remarks by Binance co-founder and former CEO Changpeng Zhao (CZ), suggesting that Nigeria “kidnapped” and jailed former employee Tigran Gambaryan for eight months without cause, have sparked outrage among Nigerians. … Read more
CZ reminded that Nigeria detained ex‑Binance employee Tigran Gambaryan, responding to Trump and War Secretary Hegseth. Binance founder Changpeng Zhao (CZ) tweeted that “Nigeria also basically kidnapped Tigran Gambaryan, an ex‑Binance employee and an ex‑US federal agent, for 8 months without cause a year ago,” posting the remark in reaction to a Truth Social post … Read more
The head of a Nigerian regulatory body warns that widespread gambling and crypto trading are diverting funds from the capital markets, undermining efforts to finance the country’s $150 billion infrastructure deficit. Capital Market vs. Risk Taking The Nigerian Securities and Exchange Commission (NSEC) is voicing concerns that the growing preference of residents for gambling and … Read more
The Nigerian government has reportedly formed a working group to explore the adoption of stablecoins. The New Stance on Digital Assets The Nigerian Federal Government has reportedly formed a working group to explore the adoption of stablecoins, signaling a significant shift toward embracing digital currencies. This initiative, announced by Central Bank of Nigeria (CBN) Governor … Read more
The Nigerian government will implement a new tax regime for cryptocurrency profits, effective January 2026. Some industry experts are questioning the timing and effectiveness of the tax but others see it as a step towards recognizing crypto as a legitimate financial instrument. Tax Structure and Exemptions for Traders The Nigerian government is set to introduce … Read more
Nigerian Central Bank Governor Olayemi Cardoso announced collaboration with the Securities and Exchange Commission (SEC) of Nigeria to create a sustainable digital currency framework. Collaboration on a Sustainable Digital Currency Framework The Nigerian Central Bank Governor, Olayemi Cardoso, has revealed that the apex bank is collaborating with the Securities and Exchange Commission (SEC) of Nigeria … Read more
Sub-Saharan Africa saw a major spike in crypto activity in March, reaching $25 billion in monthly on-chain volume—driven largely by Nigeria’s centralized exchange usage. Nigeria Fuels Sub-Saharan Africa’s Crypto Growth In March, Sub-Saharan Africa (SSA) saw a sharp surge in cryptocurrency usage, with monthly on-chain volume reaching nearly $25 billion, its highest since the beginning … Read more
The chairman of Nigerian anti-corruption body has issued a stark warning that Nigeria’s financial system is highly vulnerable to large-scale abuse if the country’s cryptocurrency activities remain unregulated. Collaboration for Compliance and Investor Protection Ola Olukoyede, chairperson of the Economic and Financial Crimes Commission (EFCC), described crypto as a powerful “engine of global innovation and … Read more
Under a recently passed law, the Nigerian Securities and Exchange Commission’s expanded mandate now includes regulating virtual assets, cryptocurrencies, and tokens as securities. Nigeria’s Landmark Digital Asset Legislation Nigeria is positioning itself at the forefront of digital asset regulation in Africa with the recently passed Investments and Securities Act (ISA 2025). This landmark legislation, according … Read more
Nigerian terrorist group Boko Haram is increasingly relying on cryptocurrencies, mobile money, and other digital tools to fund its operations, transferring millions acquired through ransoms, looting, and extorted “zakat” donations. Observers call these digital financing methods a “blind spot” in the fight against terrorism. Nigeria’s robust and largely unregulated crypto market, driven by economic necessity, … Read more
