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media outlet PremiumTimes, the charges, linked to $34.4 million in money laundering and currency speculation, were withdrawn by ...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 ...
Nigeria's Securities and Exchange Commission (SEC) has officially granted operational approvals to several crypto-focused service operators. In a statement published on Thursday, August 29, the securities regulator announced that it has issued "Approvals-in-Principle" to seven firms: Busha Digital Limited, Quidax Technologies Limited, Trovotech Ltd, Wrapped CBDC Ltd, HousingExhange.NG Ltd, Dream ...
Justice Emeka Nwite of the Federal High Court in Abuja has issued a bench warrant for the arrest of Dr. Abraham Ehizojie, a medical doctor at the Kuje Correctional Centre. The warrant comes after Dr Ehizojie failed to comply with court orders to produce a medical report for Tigran Gambaryan, ...
Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called on the newly appointed board members of the Securities and Exchange Commission (SEC) to address the complexities of cryptocurrency regulation in the country. According to a report from local media, Punch, Edun emphasized the importance of ...
The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) has raised alarm over the ongoing turmoil in the country's blockchain sector, particularly highlighting the protracted legal dispute with Binance. In a statement signed by Chairman Lucky Uwakwe Arisukwu, BICCoN warned that the prolonged conflict threatens to damage Nigeria's nascent blockchain industry. ...
