Nigeria’s Apex Bank Taps Gluwa to Hasten e-Naira CBDC Adoption
The Central Bank of Nigeria and Gluwa, a blockchain infrastructure company, have teamed up to promote the e-Naira, the nation’s digital currency. Through blockchain technology, the partnership seeks to boost financial inclusion, improve e-Naira’s functioning, and spur financial innovation in Nigeria while encouraging the adoption of e-Naira. Additionally, the alliance will streamline the loan origination […]
Binance Halts NGN Offerings Due to Nigeria’s Crypto Crackdown
Binance announced intentions to discontinue NGN services amid Nigeria’s heightened crackdown on cryptocurrencies in response to concerns about currency manipulation. Binance, a prominent crypto exchange, recently garnered considerable interest when it announced its intention to cease all Nigerian Naira (NGN) services in response to the increased scrutiny it received from the CEX in Nigeria. In light of […]
Binance Hit with $10B Fine Amid Nigeria’s Crypto Crackdown
Nigeria sues Binance for $10 billion in crypto crackdown, alleging illegitimate transactions amid currency manipulation allegations. Binance, a prominent cryptocurrency exchange platform on a global scale, has been subject to severe regulatory scrutiny in Nigeria. Indicating its alleged complicity in unlawful operations within the Nigerian crypto sector and connections to the devaluation of the national currency, the Nigerian […]
Nigeria Plans Clampdown On Binance, Other Crypto Firms
According to reports, the Nigerian government is considering banning Binance and other cryptocurrency companies to stop illegal financial transfers and manipulation of the forex market. According to Nigerian officials cited by Premium Times Nigeria, cryptocurrency exchange Binance and other digital asset trading platforms may be prohibited in Nigeria as the local government considers measures to […]
Binance Places Price Cap on USDT for Nigerian Traders
To ensure conformance with local authorities in Nigeria, Binance has imposed a price cap on the sale of Tether tokens on its peer-to-peer (P2P) platform. A USDT price of 1,802 Naira prevents Binance traders from selling USDT now. Announcing to its Nigerian clientele, the cryptocurrency exchange emphasized its dedication to collaborating closely with local authorities, […]