Nigeria News

Nigeria’s tax agency filed charges against two Binance execs, who were later detained. But one of them has escaped. Government officials say they found him.

Nigerian authorities arraigned Binance executive Tigran Gambaryan before an Abuja High Court on April 8, where the employee denied allegations and applied for bail.

The court has postponed the hearing for a Binance official detained in Nigeria on allegations of tax evasion to April 19. 

Binance has asked the Nigerian government to free one of its two arrested employees after the other reportedly escaped custody late last month. 

Binance’s executives intercepted by Nigerian officials have sued the Nigerian government, saying the local authorities have violated their fundamental rights. Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, have filed a lawsuit against Nigeria‘s national security adviser’s office and the anti-graft…

Nadeem Anjarwalla, a detained Binance executive in Nigeria, reportedly escaped custody after being taken for prayer. On Mar. 22, Nadeem Anjarwalla, a British-Kenyan who is Binance‘s regional manager for Africa, reportedly fled Nigeria after being detained upon arrival in the…

Researchers at CoinGecko say 42% of loans from private credit protocols focus on emerging markets, particularly in the automotive sector. Private credit protocols — like Centrifuge and Goldfinch — allocate over 42% of their outstanding loans to a car financing,…

An ex-parte motion in Nigeria’s crackdown on Binance looks set to expose internal platform information to regulatory scrutiny. 

Nigeria’s Securities and Exchange Commission (SEC) is proposing a significant hike in registration fees for cryptocurrency exchanges operating within the nation. The suggested amendment would raise the fee from the current 30 million naira (approximately $18,620) to 150 million naira…

Binance has issued a compliance statement amid executives’ detention in Nigeria, with their stay in custody until at least March 20. As two executives from Binance remain detained in Nigeria for the second week in a row without any charges…

Binance has announced the upcoming cessation of trading for several stablecoin spot trading pairs associated with Justin Sun-linked stablecoin TrueUSD (TUSD). The paris include COMP/TUSD, EDU/TUSD, and PENDLE/TUSD. This decision follows the platform’s routine assessment of trading pairs, aimed at…

Following the detention of Binance executives, Nigerian officials have now reportedly requested data on the exchange’s top 100 largest customers. Nigeria has once again reemerged in the spotlight following reports of local authorities allegedly demanding Binance to pay a $10…

Nigerian officials have reportedly detained a former U.S. federal agent and a regional manager for Africa who both work for Binance. Nigeria has reportedly detained Binance’s top crypto crime investigator as well as a regional manager shortly after they both…

The Central Bank of Nigeria has partnered with Gluwa, a blockchain infrastructure firm, to drive the adoption of the country's central bank digital currency, the e-Naira.

The Nigerian securities regulatory authority has introduced new guidelines for crypto service providers.

Cryptocurrency exchange Binance announced that it will stop providing all services related to the Nigerian naira (NGN). According to the platform’s announcement on March 5, starting at 8:00 UTC on March 8, all remaining NGN balances in Binance users’ accounts…