The leader of Nigeria’s Association of currency exchangers has accused the crypto giant Binance of helping to worsen the local currency’s woes and asked authorities to consider banning the platform. The leader suggested that the optimism which ensued after Tinubu’s government floated the naira has now given way to pessimism. The Naira’s Woes The president…
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According to Lamido Yuguda, the director general of the Nigerian Securities and Exchange Commission, the regulator does not plan on including cryptocurrencies in its digital asset agenda. Yuguda reportedly said the commission will only change its stance on cryptos when Nigerian regulators agree on the standards to protect digital asset investors. Commission to Promote ‘Sensible…
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Nigerian presidential hopeful, Bukola Saraki, recently said he supports the digital currency industry which he claimed has created opportunities for the country’s youth. However, he insisted that there is a need for the enactment of laws that guide players in this space.
Digital Currencies Create Opportunities for the Youth
One of Nigeria’s presidential aspirants,…
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The Nigerian securities regulator has announced new rules that govern the issuing of digital assets. The new rules also include registration requirements for platforms that offer digital assets. Initial Assessment Filing The Nigerian Securities and Exchange Commission (SEC) has announced new rules that govern the issuing of digital assets as securities. The regulations also include…
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The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has said crypto is legit and must be regulated. The group adds that any such regulation should on one hand encourage innovation, but discourage bad actors on the other. Equal Access to Banking and Financial Services The Nigerian blockchain advocacy group,…
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A minister in the Nigerian government has called on authorities in the country to consider regulating cryptocurrencies instead of clamping down on them.
The Law Does Not Stipulate Who Regulates Cryptos
In what appears to be a rebuke of the Central Bank of Nigeria (CBN) over its stance on cryptocurrencies, a minister in…
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Nigeria’s securities regulator, the Nigerian Securities and Exchange Commission (SEC) has set up a fintech division “to study crypto investments.” This was revealed by Lamido Yuguda, the director-general of the SEC during an interview. Protecting Crypto Investors In the interview, Yuguda explains that the study’s findings will help inform the SEC of the best ways…
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The United States government through the FBI recently helped to run a training exercise whose goal is to enhance the capacity of Nigerian cryptocurrency crime investigators, the U.S. Mission Nigeria (USMN) has said. The exercise saw over 50 Nigerian investigators and prosecutors participate. Understanding the Trends In its August 25 tweet, the USMN reveals that…
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