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Nigeria
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CryptoCurrency
Nigerian SEC Clarifies Warning against Binance, Labels It 'Illegal'
2023-07-31T13:16:54.698+02:00
The latest circular came through clarification on a previous announcement.
The regulator warned against the high risks of crypto investments.
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CryptoCurrency
Nigeria Orders Binance to Halt Operations While Hong Kong Welcomes Coinbase
2023-06-12T11:39:17.249+02:00
SEC Nigeria said the crypto exchange's operations in the region are illegal.
In contrast, Hong Kong welcomes beleaguered Coinbase to the country.
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Retail FX
Nigeria’s SEC Blacklists Six Online Trading Platforms
2023-05-01T22:16:54.423+02:00
Some of the platforms include Prime Invest, FXBoxed and New Finance LLC.
The Nigerian watchdog is also considering allowing asset-backed tokens.
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Retail FX
Admirals Strengthens African Presence with New Offices in Nigeria
2023-05-01T17:10:21.097+02:00
The brokerage received a license in South Africa and Kenya last year.
Admirals posted a record year in 2022 with €69M in revenue.
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FinTech
Unlimint Enters Africa, Receives Payments License in Nigeria
2023-04-21T07:27:01.820+02:00
The license allows it to offer various payment services in the country.
It is the first African country where Unliminst has a presence.
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FinTech
Nigeria Becomes Africa’s Open Banking Regulation Pioneer
2023-03-10T20:18:53.535+02:00
The Central Bank of Nigeria's interest in open banking dates back to 2018.
The new guidelines will be supported by the Nigeria Data Protection Regulation.
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CryptoCurrency
Nigeria Seeks to Legalize Crypto as Investment Capital
2022-12-19T15:47:42.418+02:00
A bill to that effect has passed a second reading at the country's House of Reps.
Nigeria's SEC clarified crypto as securities 7 months ago.
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CryptoCurrency
FTX’s Collapse Troubles African Fintech Firms
2022-11-22T19:54:19.222+02:00
FTX before its fall processed billions of dollars monthly in Africa.
The Nigerian startup, Nestcoin held its assets (cash and stable) in FTX.
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Thought Leaders
OneRoyal Opens an Office in Lagos, Nigeria
2022-10-25T13:10:31.772+02:00
2022 has already been a busy year for OneRoyal.
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CryptoCurrency
A Virtual Free Zone in Africa Is Being Discussed with Binance
2022-09-05T11:43:58.813+02:00
The Nigeria Export Processing Zones Authority is planning to create a Virtual Free Zone.
Talent City for Nigeria was also approached 'to widen economic opportunities'.
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Matti Williamson
Thought Leaders
OctaFX's Report Sheds Light on the State of the Forex Industry in Nigeria
2022-08-30T11:15:57.249+02:00
OctaFX produced a report that discusses the Nigerian Forex trading market.
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Thought Leaders
Bitpapa Comes to Nigeria
2022-08-02T15:03:22.016+02:00
P2P marketplace Bitpapa is helping pave the way for Nigerians.
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FinTech
Fintech PocketApp Gets AIP for Nigeria's Apex Bank’s MMO License
2022-06-27T22:38:54.248+02:00
PocketApp just rebranded from Abeg.
MMO license is a permit to create and manage digital wallets and issue electronic money.
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Analysis
Retail FX
Analysis
Lack of Regulation: Are Online Forex Traders Safe in Nigeria?
2022-06-15T13:17:50.901+02:00
Nigeria is the second largest retail online forex market in Africa.
But, the absence of specific regulations means traders remain somewhat 'vulnerable'.
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Analysis
Payments
Analysis
Can Africa’s Telco Giants Disrupt Nigeria’s Payments Industry?
2022-06-09T17:07:55.227+02:00
MTN Nigeria and Airtel Africa want to drive inclusion in Nigeria's payments industry.
Trust, adoption, and acceptance are some of the challenges on their way, experts say.
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CryptoCurrency
Despite Implicit Ban, Nigeria Rules Crypto as Securities; Can It Stand?
2022-05-16T23:55:43.903+02:00
Digital token issuers cannot raise more than N10 billion ($25 million) within a year.
Critics say rules harsh to local industry.
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Regulation
Nigerian Regulator Defines Crypto as Securities, Clarifies Listing Rules
2022-05-16T09:04:41.757+02:00
Exchanges in the country need to be registered with the regulator.
They need to obtain licenses for the issuance and transfer of securities.
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FinTech
Nigerian Fintech Leaders React to Flutterwave Allegations
2022-04-14T08:15:36.461+02:00
CEO Agboola was accused of insider trading, stock options fraud and sexual harassment.
US SEC declined FOIA request, report says
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CryptoCurrency
Nigeria’s CBN Slams $2m Fines on Four Banks for Crypto Transactions
2022-04-07T17:04:08.561+02:00
CBN spotted the transactions through its surveillance technology.
The sanctions come over a year after the implicit ban on crypto transactions.
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Thought Leaders
Kwakol Announces Exciting Developments for Traders & Affiliates
2022-03-24T10:53:18.719+02:00
Kwakol Markets has obtained a FINTRAC license.
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FinTech
Nigeria’s Fintech Firm Tingo Seeks to Raise $500 Million to Serve More African Farmers
2022-02-22T08:55:57.907+02:00
Tingo wants to raise money to focus on farmers’ needs in Africa.
The fintech aims to address gaps in financing for those farmers.
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News
Cryptocurrency Exchange Binance Restricts 281 Accounts of Nigerian Users
2022-01-31T11:15:57.290+02:00
Nearly 38% of the accounts were restricted at the request of law enforcement agencies.
According to the exchange, it has resolved 79 cases.
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FinTech
PayedIn Launches Its Pay Solution App in Nigeria
2022-01-30T12:05:13.336+02:00
The fintech firm aims to enable businesses to access efficient ePayment solutions.
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Regulation
Nigerian SEC to Set Up a Special Division for Studying Crypto Investments
2021-09-03T23:44:49.000+02:00
The purpose of the division is to assess all the aspects of the crypto investments to come up with regulations.
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Felipe Erazo
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News
Central Bank of Nigeria Sends Guidelines to Banks on CBDC Project e-Naira
2021-08-30T22:21:50.000+02:00
The Nigerian central bank seeks to make e-Naira a legal tender for the country if tests are successful.
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See more
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