Nigerian Minister Defends Binance Exec Prosecution Amid Criticism
The Nigerian Minister of Information, Mohammed Idris, said the country’s legal procedures are being followed in the trial of Binance and its executives despite criticism from US Lawmakers. According to the statement, Idris reportedly stated that the legal proceedings have adhered to due process at every stage, and prosecutors are confident in their case due […]
US Lawmakers Urge Biden to Secure Binance Exec’s Return from Nigeria
U.S. lawmakers urge Biden to secure the release of Binance exec Tigran Gambaryan, detained in Nigeria for over three months. U.S. lawmakers are urging President Joe Biden and other senior officials to take immediate action to secure the release of Tigran Gambaryan, a former federal agent and executive at Binance. Additionally, they think that Gambaryan […]
Davido Memecoin Raises Concern in Nigeria Crypto Community
The Nigerian cryptocurrency community has criticized Afro-pop superstar Davido’s new memecoin, with many believing it may be a token dump strategy. Lookonchain reports that eleven hours after the May 29 inauguration of the DAVIDO memecoin, Davido sold it for a substantial profit of 2,783 SOL ($473,000). The remaining unrealized profit for the singer is $207,000. […]
Nigerian Correctional Service Fails to Bring Binance Exec to Court
The Nigerian Federal Inland Revenue Service (FIRS) accused the Nigerian Correctional Service of failing to bring Binance executive Tigran Gambarya before the Federal High Court in Abuja. Local media reports indicate that the detained Binance executive, Tigran Gambaryan, failed to appear in court on May 22 for arraignment on federal tax evasion charges. Prosecutor Moses […]
Binance Bribery Allegations Threaten Nigeria’s Foreign Investments
Binance CEO’s bribery allegations against Nigerian officials may deter foreign investment, according to SBM Intelligence. SBM Intelligence, an Africa-focused risk consultancy firm, has warned that the bribery allegations levied by Binance CEO Richard Teng against Nigerian government officials may hinder foreign investment efforts in the country. SBM Intelligence, in its analysis of recent occurrences and […]