The Central Bank of Nigeria has directed four fintech companies to cease the creation of new accounts, citing their potential use by cryptocurrency traders. An executive from one of the affected fintech companies has associated the Central Bank’s directive with a current audit of the Know Your Customer (KYC) procedures implemented by these firms. Fintech […]
The Binance executive who reportedly escaped from custody in Nigeria is set to be extradited to the same country by the end of the month, according to reports. A Kenyan detective believes the extradition of Anjarwalla, who allegedly has ties to influential figures in Kenya, may still prove to be challenging. Interpol Reportedly Involved in […]
A senior executive at Binance, who was detained by Nigerian authorities in late February, has since escaped from custody. The executive Nadeem Anjarwalla is believed to have left the country using a Kenyan passport. The Nigerian government confirmed Anjarwalla’s escape and said it would ask Interpol to issue an international arrest warrant. Binance Executive Departs […]
The Nigerian Securities Regulator has proposed a rule requiring virtual asset service providers to be incorporated and maintain an office within Nigeria. The regulator has also suggested a fivefold increase in the registration fee, which must be submitted alongside license applications from prospective crypto exchanges. Proposed Regulations to Foreign Operators Targeting Nigerian Users According to […]
Nigeria is not yet among Binance’s top markets despite being a leading global crypto market. However, the crypto exchange said it recognizes the West African country’s “extraordinary potential,” which is one reason why it is eager to invest there. ‘Extraordinary Potential’ The cryptocurrency exchange Binance has clarified that Nigeria, despite being one of the world’s […]