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The troubled Nigerian digital asset platform Crypto Bridge Exchange (CBEX) recently announced new withdrawal options in an effort to restore investor confidence. Sources revealed that the company made this announcement after facing claims of collapse. Under the new rules, investors with up to $1,000 in the platform must pay a $100 fee to withdraw 50% … Read more
The Nigeria Customs Service (NCS) has successfully piloted its Electronic Currency Declaration Form (E-CDF) at Nnamdi Azikiwe International Airport in Abuja, as part of its digital transformation efforts to enhance border security and financial disclosure transparency. The pilot, which began on April 9, 2025, processed 69 transactions, with outbound declarations ($1,200,281.22) making up 51% and … Read more
A globe-spanning crypto romance scam that funneled $2.5 million through digital wallets has unraveled, exposing a mastermind now staring down 40 years behind bars. Feds Hunt Down Suspect in $2.5M Crypto Scam—Now He Faces 40 Years in Prison The U.S. Department of Justice (DOJ) announced on April 9 that a Nigerian man has been charged … Read more
The Central Bank of Nigeria (CBN) has dismissed as fake news a report stating it issued ₦5,000 and ₦10,000 banknotes to enhance cash transactions. The CBN said the report, circulating on social media and claiming the new banknotes would become legal tender on May 1, 2025, did not originate from its official website. The report, … Read more
Nigeria has taken a significant step towards regulating cryptocurrencies with the signing of the Nigerian Investments and Securities Act (ISA) 2025 into law. Cryptocurrency Officially Recognized As Asset Class The Nigerian Investments and Securities Act (ISA) 2025, recently signed into law by President Bola Ahmed Tinubu, has effectively ended the uncertainty surrounding the status of … Read more
Nigeria’s government has accused Binance of facilitating terrorism and kidnapping financing through illicit fund transfers on its cryptocurrency exchange platform. Binance Faces Increasing Legal Challenges in Nigeria Prior to the Nigerian government’s crackdown on Binance, kidnapping gangs and terrorists funneled illicit funds through the cryptocurrency exchange, Information Minister Alhaji Mohammed Idris recently stated. Idris said … Read more
The Central Bank of Nigeria has raised concerns over illegal currency dealers charging premiums of 20–40% on naira banknotes. Threat to Naira Credibility The Nigerian central bank has raised alarms over the growing practice in which illegal currency dealers charge a premium on local currency banknotes. According to Olayemi Cardoso, the governor of the Central … Read more
Coinbase has partnered with Onboard Global to offer Nigerian users secure and efficient cryptocurrency trading. Shielding Coinbase from Regulatory Risk Coinbase and Onboard Global have partnered to provide secure and efficient cryptocurrency trading for Nigerian users. The collaboration enables the purchase of cryptocurrency with local currency through a peer-to-peer (P2P) exchange, with streamlined verification and … Read more
Nigeria has sued Binance for $81.5 billion for running an unlicensed operation and tax evasion. Nigeria Demands Binance Pay for Economic Harm The Nigerian government has reportedly filed a lawsuit against Binance, seeking $79.5 billion in compensation for “economic losses” and $2 billion in back taxes. The lawsuit, filed in Federal High Court in Abuja, … Read more
On Valentine’s day, Tigran Gambaryan reiterated claims that rogue Nigerian lawmakers demanded a $150 million bribe in exchange for dropping the case against the cryptocurrency exchange. Fake Meeting Tigran Gambaryan, head of financial crime compliance at Binance, has reiterated the claim that rogue Nigerian lawmakers demanded $150 million in exchange for dropping the case against … Read more