Nigeria is reportedly stepping up its cryptocurrency crackdown with a proposed ban on peer-to-peer trading. The ban would affect P2P trading in the country’s naira, Bloomberg reported Tuesday (May 7). The move is the latest effort by the West African country to place tighter controls on the crypto...
A Binance executive who fled Nigerian custody last month has reportedly been found in Kenya. Nadeem Anjarwalla, a British-Kenyan who is the cryptocurrency giant’s regional manager for Africa, escaped after weeks of being held in Nigeria along with a second executive. He has since been located in Kenya and is facing...
Two Binance executives have sued the Nigerian government following their detention by the African nation. The cryptocurrency execs filed suit last week against Nigeria’s national security adviser, Nuhu Ribadu, and country’s Economic Financial Crimes Commission for violating their fundamental human rights, Coindesk reported Friday (March 29), citing local...
Nigeria has reportedly charged Binance and two of the cryptocurrency exchange’s executives with tax evasion. The charges come with a dramatic wrinkle, as one of those executives, who had been detained by the government last month, has apparently fled the country, Bloomberg News reported Monday (March 25). According...
November 20, 2023
Compared to the global standard of five to six hubs, moving money between Nigeria and China or Singapore can require navigating through up to 16 hubs before the payment reaches the last mile, said Jess Anuna, founder and CEO of Klasha, a global cross-border payments company. This example illustrates the persistently sluggish, costly and fragmented […]
July 06, 2023
In 2019, Meta CEO Mark Zuckerberg said it was time to simplify money movement and make sending money to someone as easy as sending a photo. However, what that statement,...
June 01, 2023
Each country implementing real-time payment methods has to balance various factors, including its banked population, the current favored payment schemes of the populace and penetration of digital payment methods, among...
November 10, 2022
Card payments, as ubiquitous as they may appear, are actually not the preferred payment method in certain markets. Take the case of Nigeria, for example. According to Lagos FinTech firm...
May 09, 2024
American Express is rolling out a business credit card in Nigeria, its first such product in the country. The card offers business owners a spending limit of $10,000 and a repayment period of up to 45 days for international transactions, and comes as a result of a partnership with local neobank O3 Capital, according to a Thursday […]
May 07, 2024
Nigeria is reportedly stepping up its cryptocurrency crackdown with a proposed ban on peer-to-peer trading. The ban would affect P2P trading in the country’s naira, Bloomberg reported Tuesday (May 7). The move is...
April 22, 2024
A Binance executive who fled Nigerian custody last month has reportedly been found in Kenya. Nadeem Anjarwalla, a British-Kenyan who is the cryptocurrency giant’s regional manager for Africa, escaped after weeks of being held...
March 31, 2024
Two Binance executives have sued the Nigerian government following their detention by the African nation. The cryptocurrency execs filed suit last week against Nigeria’s national security adviser, Nuhu Ribadu, and country’s Economic Financial...
