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CryptoCurrency

Nigerian SEC Clarifies Warning against Binance, Labels It 'Illegal'

  • The latest circular came through clarification on a previous announcement.
  • The regulator warned against the high risks of crypto investments.
Monday, 31/07/2023 | 11:16 GMT by Arnab Shome
CryptoCurrency

Nigeria Orders Binance to Halt Operations While Hong Kong Welcomes Coinbase

  • SEC Nigeria said the crypto exchange's operations in the region are illegal.
  • In contrast, Hong Kong welcomes beleaguered Coinbase to the country.
Monday, 12/06/2023 | 09:39 GMT by Jared Kirui
Retail FX

Nigeria’s SEC Blacklists Six Online Trading Platforms

  • Some of the platforms include Prime Invest, FXBoxed and New Finance LLC.
  • The Nigerian watchdog is also considering allowing asset-backed tokens.
Monday, 01/05/2023 | 20:16 GMT by Solomon Oladipupo
Retail FX

Admirals Strengthens African Presence with New Offices in Nigeria

  • The brokerage received a license in South Africa and Kenya last year.
  • Admirals posted a record year in 2022 with €69M in revenue.
Monday, 01/05/2023 | 15:10 GMT by Solomon Oladipupo
FinTech

Unlimint Enters Africa, Receives Payments License in Nigeria

  • The license allows it to offer various payment services in the country.
  • It is the first African country where Unliminst has a presence.
Friday, 21/04/2023 | 05:27 GMT by Arnab Shome
FinTech

Nigeria Becomes Africa’s Open Banking Regulation Pioneer

  • 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.
Friday, 10/03/2023 | 18:18 GMT by Solomon Oladipupo
CryptoCurrency

Nigeria Seeks to Legalize Crypto as Investment Capital

  • 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.
Monday, 19/12/2022 | 13:47 GMT by Solomon Oladipupo
CryptoCurrency

FTX’s Collapse Troubles African Fintech Firms

  • FTX before its fall processed billions of dollars monthly in Africa.
  • The Nigerian startup, Nestcoin held its assets (cash and stable) in FTX.
Tuesday, 22/11/2022 | 17:54 GMT by Solomon Oladipupo
Thought Leaders

OneRoyal Opens an Office in Lagos, Nigeria

  • 2022 has already been a busy year for OneRoyal.
Tuesday, 25/10/2022 | 11:10 GMT by FM
CryptoCurrency

A Virtual Free Zone in Africa Is Being Discussed with Binance

  • 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'.
Monday, 05/09/2022 | 09:43 GMT by Matti Williamson
Thought Leaders

OctaFX's Report Sheds Light on the State of the Forex Industry in Nigeria

  • OctaFX produced a report that discusses the Nigerian Forex trading market.
Tuesday, 30/08/2022 | 09:15 GMT by FM
Thought Leaders

Bitpapa Comes to Nigeria

  • P2P marketplace Bitpapa is helping pave the way for Nigerians.
Tuesday, 02/08/2022 | 13:03 GMT by FM
FinTech

Fintech PocketApp Gets AIP for Nigeria's Apex Bank’s MMO License

  • PocketApp just rebranded from Abeg.
  • MMO license is a permit to create and manage digital wallets and issue electronic money.
Monday, 27/06/2022 | 20:38 GMT by Solomon Oladipupo
Analysis
Analysis
Retail FX
Analysis
Analysis

Lack of Regulation: Are Online Forex Traders Safe in Nigeria?

  • Nigeria is the second largest retail online forex market in Africa.
  • But, the absence of specific regulations means traders remain somewhat 'vulnerable'.
Wednesday, 15/06/2022 | 11:17 GMT by Solomon Oladipupo
Analysis
Analysis
Payments
Analysis
Analysis

Can Africa’s Telco Giants Disrupt Nigeria’s Payments Industry?

  • 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.
Thursday, 09/06/2022 | 15:07 GMT by Solomon Oladipupo
CryptoCurrency

Despite Implicit Ban, Nigeria Rules Crypto as Securities; Can It Stand?

  • Digital token issuers cannot raise more than N10 billion ($25 million) within a year.
  • Critics say rules harsh to local industry.
Monday, 16/05/2022 | 21:55 GMT by Solomon Oladipupo
Regulation

Nigerian Regulator Defines Crypto as Securities, Clarifies Listing Rules

  • Exchanges in the country need to be registered with the regulator.
  • They need to obtain licenses for the issuance and transfer of securities.
Monday, 16/05/2022 | 07:04 GMT by Arnab Shome
FinTech

Nigerian Fintech Leaders React to Flutterwave Allegations

  • CEO Agboola was accused of insider trading, stock options fraud and sexual harassment.
  • US SEC declined FOIA request, report says
Thursday, 14/04/2022 | 06:15 GMT by Solomon Oladipupo
CryptoCurrency

Nigeria’s CBN Slams $2m Fines on Four Banks for Crypto Transactions

  • CBN spotted the transactions through its surveillance technology.
  • The sanctions come over a year after the implicit ban on crypto transactions.
Thursday, 07/04/2022 | 15:04 GMT by Solomon Oladipupo
Thought Leaders

Kwakol Announces Exciting Developments for Traders & Affiliates

  • Kwakol Markets has obtained a FINTRAC license.
Thursday, 24/03/2022 | 08:53 GMT by Kwakol Markets
FinTech

Nigeria’s Fintech Firm Tingo Seeks to Raise $500 Million to Serve More African Farmers

  • Tingo wants to raise money to focus on farmers’ needs in Africa.
  • The fintech aims to address gaps in financing for those farmers.
Tuesday, 22/02/2022 | 06:55 GMT by Nicholas Otieno
News

Cryptocurrency Exchange Binance Restricts 281 Accounts of Nigerian Users

  • Nearly 38% of the accounts were restricted at the request of law enforcement agencies.
  • According to the exchange, it has resolved 79 cases.
Monday, 31/01/2022 | 09:15 GMT by Bilal Jafar
FinTech

PayedIn Launches Its Pay Solution App in Nigeria

  • The fintech firm aims to enable businesses to access efficient ePayment solutions.
Sunday, 30/01/2022 | 10:05 GMT by Nicholas Otieno
Regulation

Nigerian SEC to Set Up a Special Division for Studying Crypto Investments

  • The purpose of the division is to assess all the aspects of the crypto investments to come up with regulations.
Friday, 03/09/2021 | 21:44 GMT by Felipe Erazo
News

Central Bank of Nigeria Sends Guidelines to Banks on CBDC Project e-Naira

  • The Nigerian central bank seeks to make e-Naira a legal tender for the country if tests are successful.
Monday, 30/08/2021 | 20:21 GMT by Felipe Erazo
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