Nigeria | ForkLog

ForkLog 9 25.03.2024

Binance Executive Allegedly Flees Nigeria

Nadeem Anjarwalla, Binance’s Director for West and East Africa, has reportedly left Nigeria illegally, according to local media. Reports indicate that the executive escaped custody on March 22 after being taken to a nearby mosque for prayers. Anjarwalla departed Abuja on a Middle Eastern airline. Immigration officials stated he left Nigeria using a Kenyan passport. […]

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ForkLog 14 19.03.2024

Nigeria Demands User Data from Binance

The Federal High Court in Abuja has mandated the cryptocurrency exchange Binance to provide comprehensive information on all Nigerian individuals trading on its platform, according to local media reports. The request was made by the Economic and Financial Crimes Commission, which is investigating the exchange’s activities in the country. The data sought includes the names […]

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ForkLog 12 18.03.2024

Nigeria Proposes 400% Increase in Registration Fees for Crypto Firms

The Nigerian Securities and Exchange Commission (SEC) has proposed a 400% increase in registration fees for cryptocurrency companies amid ongoing issues with Binance. The amendments affect digital asset issuers, exchanges, and custodial platforms. The regulator suggests increasing: the application fee from 100,000 naira to 300,000 naira (from ∽$64 to $190 at the current rate); the […]

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ForkLog 5 14.03.2024

Binance Executives to Remain in Custody in Nigeria

Two senior executives from the cryptocurrency exchange Binance, Tigran Gambaryan and Nadim Anjarwalla, will remain in custody in Nigeria at least until March 20. This was reported by the Wall Street Journal. The court hearing for Binance’s case is scheduled for that date. However, the hearing held on March 13 did not officially extend the […]

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ForkLog 5 13.03.2024

Nigeria Seeks Binance Transaction Records Amid Economic Scrutiny

Nigerian authorities have requested that cryptocurrency exchange Binance provide a list of the country’s top 100 users, along with a complete transaction history for the past six months, according to the Financial Times. The period in question is critical as it coincides with the timeline of the Nigerian naira’s devaluation. Additionally, Nigeria’s Office of the […]

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ForkLog 9 12.03.2024

WSJ Reveals Names of Binance Employees Detained in Nigeria

The two Binance employees detained in Nigeria have been identified as Tigran Gambaryan, Vice President of Global Intelligence and Investigations, and Nadim Anjarwalla, Director of the trading platform in West and East Africa. This was reported by the Wall Street Journal. The senior executives were invited by Nigerian authorities to discuss ongoing issues concerning Binance. […]

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ForkLog 8 05.03.2024

Binance to Cease Nigerian Naira Services

Starting March 5, cryptocurrency exchange Binance will gradually discontinue all services involving the Nigerian naira (NGN), including P2P, Binance Pay, and Invest services. Deposits in NGN will cease from March 5 at 14:00 UTC (15:00 WAT). On March 7 at 03:00 UTC, all existing spot trading pairs with this fiat currency, BTC/NGN and USDT/NGN, will […]

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ForkLog 5 04.03.2024

Nigerian Authorities Summon Binance CEO for Questioning

The Nigerian House of Representatives Committee on Financial Crimes has summoned Binance cryptocurrency exchange CEO Richard Teng to appear before the agency by March 4 to testify regarding alleged terrorism financing and money laundering. This was reported by local media. Committee Chairman Ginger Onwusibe expressed the intention to protect Nigerians from financial crimes, particularly those […]

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ForkLog 12 01.03.2024

Binance Denies $10 Billion Fine from Nigerian Authorities

The Nigerian government has demanded $10 billion in damages from the cryptocurrency exchange Binance for allegedly manipulating the exchange rate of the naira (NGN), according to a report by the BBC. March 3, 2024 | 12:32Update: A Binance representative told Peoples Gazette that the company has not received any fine from local authorities for such […]

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ForkLog 8 29.02.2024

Binance Executives Detained in Nigeria Amid Cryptocurrency Crackdown

Two senior executives of Binance have been arrested in Nigeria as the country enforces stringent measures against cryptocurrency exchanges, reports the Financial Times. According to the publication’s sources, company representatives flew to Nigeria following the authorities’ decision to ban several digital asset trading sites. However, upon arrival, they were detained by the office of the […]

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ForkLog 9 25.12.2023

Nigerian central bank lifts ban on cryptocurrency trading

The Central Bank of Nigeria has lifted the ban on cryptocurrency operations and said that the market should be regulated.

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ForkLog 4 16.10.2023

Nigerian authorities to allocate about $290,000 for AI startups

The Nigerian government plans to provide 45 local AI-focused projects with 5 million naira each (about $6,500).

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