Tag: Nigeria

Nigeria has formally brought cryptocurrency profits and blockchain-based digital assets into its tax system after the Nigeria Revenue Service (NRS) released its first comprehensive Guidelines on Taxation of Virtual Assets. Issued on July 31, 2026, the framework outlines how income and gains from cryptocurrencies, stablecoins, utility tokens, security tokens, governance ...

Five crypto companies are among seven fintech firms cleared by Nigeria's Securities and Exchange Commission for admission into its Accelerated Regulatory Incubation Programme, as the regulator continues efforts to bring digital asset businesses under formal oversight. The crypto firms admitted are Bitbarter Technologies Limited, Luno Fintech Nigeria Limited, Koinkoin Global ...

The Securities and Exchange Commission (SEC) Nigeria has stepped up efforts to regulate the country’s fast-growing cryptocurrency market, partnering with blockchain intelligence firm Chainalysis in a webinar aimed at combating fraud and strengthening investor protection. Nigeria ranks second globally in cryptocurrency adoption, with more than one-third of its 220 million ...

Nigeria is officially open to stablecoin businesses, provided operators comply with regulatory standards, according to Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), as reported by TheCable. While speaking at the Nigeria Stablecoin Summit held in Lagos, Agama outlined the government’s evolving stance on digital assets. He stated ...

Nigeria's Economic and Financial Crimes Commission (EFCC) has apprehended 792 individuals for alleged involvement in a widespread cryptocurrency romance scam. According to a report by Reuters, On December 10, authorities raided a building in Lagos believed to be a hub for the fraudulent activities. Wilson Uwujaren, a spokesperson for the ...

The United States and Nigeria have established a Bilateral Liaison Group aimed at tackling illicit finance and cryptocurrency-related crimes. The U.S. Department of State announced this partnership on Wednesday, October 23, highlighting the importance of collaboration in addressing financial crime and cyber threats, particularly concerning the misuse of digital assets. ...

The Nigerian government has formally dropped all charges against Tigran Gambaryan, an executive at Binance Holdings, who had been on trial for money laundering since April. According to a report by local media outlet PremiumTimes, the charges, linked to $34.4 million in money laundering and currency speculation, were withdrawn by ...

A Nigerian court has denied the bail request for Binance executive Tigran Gambaryan, despite citing health concerns, instead, the court directed the prison authorities to transfer him to a hospital for necessary medical care. On October 11, Judge Emeka Nwite of Nigeria’s Federal High Court in Abuja rejected Tigran Gambaryan's ...

As Nigeria positions itself as a leader in technological advancement, the Algorand Foundation has become a key player in the country's blockchain development efforts. With the Nigerian government introducing the National Blockchain Policy in 2023, a framework was established to drive the adoption of blockchain technology across various sectors. The ...

Nigeria's Securities and Exchange Commission (SEC) is reportedly preparing to initiate enforcement measures against businesses and individuals participating in unregulated cryptocurrency transactions. Emomotimi Agama, Director-General of the agency, announced that it would soon take action against entities offering cryptocurrency services without proper regulation, according to a report by the local ...