EFCC charges Binance and execs with $35.4M money laundering. Anjarwalla evades arrest, prompts international pursuit. Charges include unlicensed financial activities and concealing unlawful proceeds. EKO HOT BLOG reports that the Economic and Financial Crimes Commission (EFCC) has brought charges of $35,400,000 in money laundering against Binance Holdings Limited and two of its senior executives, Tigran Gambaryan … Read more
EKO HOT BLOG reports that the President Bola Ahmed Tinubu-led Federal Government has denied slamming a $10 billion fine on the cryptocurrency trading platform, Binance, over the free fall of the naira. In an interview with the BBC on Friday, presidential spokesman, Bayo Onanuga, had accused the cryptocurrency platform of aiding those fixing the Nigerian exchange … Read more
EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has lifted the ban on cryptocurrency assets in the country and asked banks to disregard its earlier ban on crypto transactions. The apex bank’s Director of Financial Policy and Regulation Department, Haruna Mustafa, made this known in a circular dated Friday, December 22, 2023 EDITOR’S … Read more
The Nigerian government has been unfriendly towards cryptocurrency trading in the past. It had always warned that crypto assets are risky investments. The government took its most significant step against crypto trading today by banning the largest exchange in the world from operating in Nigeria. Eko Hot Blog reports that Nigeria’s Securities and Exchange Commission … Read more
The Central Bank of Nigeria (CBN) has confirmed that the Bank Verification Number (BVN) issued in collaboration with Nigeria Inter-Bank Settlement System does not expire. BVNs issued in Nigeria remain valid for life once a customer’s biometrics have been captured and enrolled in the database of NIBSS. The CBN implores all bank users across … Read more
FTX founder Sam Bankman-Fried has been arrested. Eko Hot Blog reports that the founder of collapsed cryptocurrency exchnage FTX, Sam Bankman-Fried, was arrested in The Bahamas late Monday evening. EDITOR’S PICKS Speak Out Against Gender-based Violence, Lagos Public Defender Urges Men Sanwo-Olu Flags Off Reconstruction Of Nigeria’s Oldest Courthouse Destoyed By Hoodlums Sholape Animashawun Foundation … Read more
A Cryptocurrency Has Trader Jailed By EFCC Over Fraudulent Transaction EKO HOT BLOG reports that a cryptocurrency trader, Shola Henry, who was slammed with a seven-count charge by the Economic and Financial Crimes Commission (EFCC), has been convicted. This online media platform understands that the anti-graft agency had filed an amended seven-count charge against … Read more
Bitcoin accounts for about a third of the cryptocurrency market with a total value of $650bn Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 10% in the last week EDITOR’S PICK Ukraine War: Russian Generals ‘Ignore’ Putin’s Order To Launch Nuclear Missiles Ukraine War: West Must … Read more
The CAR “is the first country in Africa to adopt bitcoin as legal tender” The landlocked state is one of the planet’s poorest and most troubled nations, with an economy that is heavily dependent on mining EDITOR’S PICK 2023: ‘You’ve No Single Respect’ – Orji Kalu Slams Osinbajo, Tinubu, Wike, Others 2023: Tinubu, Osinbajo Support … Read more
Lagosian Linked to Cubana Group Nabbed for $200K Cryptocurrency Fraud It is unclear if the EFCC questioned the businessman about Precious’ transaction with CASA-Cubana during his 4-day interrogation in Abuja. EKO HOT BLOG reports that one Precious Ofure Omonkhoa, a Lagos-based Nigerian who pretended to be a Swede, was detained by the EFCC for an … Read more
The digital currency has two applications — eNaira speed wallet and eNaira merchant wallet. The apex bank had postponed the unveiling of the eNaira on October 1… Ekohotblog reports that the Central Bank of Nigeria (CBN) has rolled out eNaira, the country’s first digital currency. The digital currency has two applications — eNaira speed wallet … Read more
New York Attorney General has ordered two unnamed crypto lending platforms to cease activity. The regulator “will not hesitate to take whatever actions are necessary against any company that thinks they are above the law,” said Letitia James. Ekohotblog reports that New York Attorney General, Letitia James, has ordered two unnamed crypto lending platforms operating … Read more
The report stated that, “Topping the list is the African nation of almost 200 million people, mainly on the younger, more tech-savvy side. With most Nigerians adept at sending money and paying through their phones, almost a third of Nigerians surveyed by Statista have used or owned crypto at some point.” A top cryptocurrency exchange … Read more
Musk said he loses money when the value of bitcoin or other cryptocurrencies declines but that he has not been selling despite the volatility Tesla founder Elon Musk, on Wednesday, disclosed that he personally has invested in bitcoin and other cryptocurrencies but that he does not manipulate or “dump” the digital currencies. In a wide-ranging … Read more
The Abuja Chamber of Commerce and Industry (ACCI) has called on the Federal Government to set up a presidential commission on cryptocurrency in view of surging intrusion of the bitcoin into global and local financial systems. ACCI President, Dr Almujtaba Abubakar who made this known on Friday in Abuja in a statement listed some terms … Read more
The SEC’s move, if seen through, will mostly affect young Nigerians who have been drawn by tech to invest in foreign securities The move follows a ban imposed by the Central Bank of Nigeria, barring banks from allowing cryptocurrency-related transactions in the country Nigeria’s Securities and Exchange Commission (SEC) has warned capital market operators to … Read more
The Central Bank of Nigeria (CBN) has said there was no time the bank banned the activities of cryptocurrency in the country. The CBN said what the bank did was to protect the banking sector from the activities of cryptocurrency and not a ban on its activities. The Central Bank of Nigeria (CBN) has said … Read more
The Chief Executive Officer of SenexPay Limited, Mr Okeoghene Orhosere, has appealed to the Federal Government to rethink all policies on cryptocurrency transactions ban by the Central Bank of Nigeria (CBN) before passing them into law. Mr Orhosere during a virtual meeting from South Africa also advised the government to create a level playing field … Read more
The Central Bank of Nigeria had prohibited dealing and facilitating payments in cryptocurrencies. Vice President Yemi Osinbajo on Friday opined that cryptocurrencies should be regulated in Nigeria in lieu of an outright ban. He made the remarks during a keynote at the CBN/Bankers Committee’s Initiative for Economic Growth. The CBN had recently reaffirmed its oppositional … Read more
Vice President, Prof. Yemi Osinbajo, has called for the regulation of cryptocurrency in Nigeria, as against the ban of the digital currency. This comes after the Central Bank of Nigeria (CBN) recent ban on cryptocurrency in the country. The Vice President of Nigeria, Prof. Yemi Osinbajo, has called for the regulation of cryptocurrency in the … Read more