Nigeria – Page 4 – Ƀitsell X

Nigeria Faces Pressure to Tighten Crypto Regulations for Financial Crime Prevention

February 12, 2024

Nigeria faces calls to go further in its efforts to clarify crypto regulation after a blockchain firm successfully finished training its fifth cohort of crypto compliance specialists last weekend. Blockchain intelligence service provider A&D Forensics teaches a course on curbing financial crimes committed on-chain, particularly money laundering, hacking and sanctions evasion. It also teaches trainees…
Read more

Nigeria’s Central Bank Rolls Out Regulations For Financial Institutions Dealing with VASPs

January 4, 2024

Source: AdobeStock The Central Bank of Nigeria (CBN) has issued new regulations to guide banks and other financial institutions that offer domestic accounts for virtual assets service providers (VASPs). In an official circular released on its website on Jan 3, the country’s leading banking regulator rolled out strict rules on all market participants in a…
Read more

Crypto Exchange Yellow Card Financial Set to Apply for Nigerian License Following Cryptocurrency Ban Lift

December 25, 2023

Image Source: Pexels Pan-African cryptocurrency exchange Yellow Card Financial has announced plans to apply for a license in Nigeria following the recent lifting of the country’s cryptocurrency ban. The ban, which was imposed in 2021, prohibited financial institutions from transacting or operating cryptocurrency exchanges. With the ban now lifted, Yellow Card aims to seize the…
Read more

Central Bank of Nigeria Lifts Crypto Ban Following New SEC Regulation

December 23, 2023

Source: AdobeStock / Faraz The Central Bank of Nigeria (CBN) has reversed its ban on dealing with companies involved in digital tokens. According to a report by BusinessDay, the CBN has now instructed lenders to open accounts for crypto firms, marking a reversal of the ban it imposed in 2021. The decision comes as the Securities…
Read more

Nigerian Politician Arrested for $246,153 Theft from Patricia Technologies’ Crypto Wallet

November 26, 2023

Source: AdobeStock / Faraz The Nigeria Police Force (NPF) has announced the arrest of a politician in connection with the theft of over 200 million naira (approximately $246,153) from Patricia Technologies’ crypto wallet. In a recent post on X (formerly Twitter), the NPF said the arrest of Wilfred Bonse was made following an investigation conducted…
Read more

Arrest made in Nigeria’s Patricia Technologies crypto wallet heist

November 25, 2023

A spokesperson for the Nigerian Police Force said that Wilfred Bonse, a Nigerian politician, has been arrested for the theft, the conversion of cryptocurrency wallets, and the unauthorized fund diversion from Patricia Technologies. The Nigeria Police Force (NPF) said it has arrested one politician, Wilfred Bonse, for the theft of over 200 million naira ($246,153)…
Read more

Report: Bitcoin Mining Project Initiates Construction of Hydro-Powered Facility in Nigeria

November 21, 2023

A Nigerian startup named Trojan Mining is constructing a hydro-powered facility dedicated to bitcoin (BTC) mining in the African country, according to a recent report. Over the weekend, Trojan unveiled the creation of its mining container, locally produced and designed for a 500-kilowatt (KW) bitcoin mining site. Startup Embarks on Hydro-Powered Bitcoin Mining Facility Project…
Read more

Nigeria and UK foundation launch Code Clubs for digital literacy

November 10, 2023

Nigeria’s communication ministry said the Code Clubs will introduce young participants to coding and digital technology and encourage them to deploy creative problem-solving in their everyday lives. The Federal Government of Nigeria, through the Ministry of Communications, Innovation and Digital Economy, has entered into a partnership with a UK-based computing education charity, Raspberry Pi Foundation,…
Read more

Nigeria’s 3MTT program draws 1M+ applicants, introduces AI course

November 9, 2023

The course will evolve in three stages, according to the government’s disclosed implementation strategy. Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, said the 3 Million Technical Talent (3MTT) program’s over one million applicants will undergo an introductory artificial intelligence (AI) course. The minister shared this information on X (formerly Twitter) on Wednesday,…
Read more

Nigeria Plans to Include Fintechs in Broadened Official Currency Market

October 26, 2023

A Nigerian official recently said the foreign exchange-starved country plans to include “legitimate” market participants like bureaux de change and financial technology companies in the official forex currency market. Finance Minister Wale Edun also said the country will receive $10 billion in inflows in the next few weeks. Nigeria Contemplates Outlawing Forex Parallel Market Nigeria…
Read more

Category: Nigeria