City Abuja Financial News

Binance , the world’s largest cryptocurrency exchange, is facing tax evasion charges in Nigeria, as the dispute between the exchange and Nigerian authorities escalates. 

There has been mounting pressure on the Biden administration to intervene and secure the release of the detained  Binance  executives.

Two Binance employees remain under custody in Nigeria over a spat between the government and the cryptocurrency exchange. The employees will remain under detention until March 20 following a court decision, according to a WSJ report.

Nigerian authorities have reportedly requested Binance, the largest cryptocurrency exchange, to provide information on its top 100 users in Nigeria, along with its entire transaction history for the past six months, according to a report by the Financial Times on Tuesday.

Two senior executives from cryptocurrency exchange Binance have been detained against their will by Nigerian authorities for the past two weeks. 

By Abraham Achirga and Seun Sanni

By Felix Onuah

National Testing Agency (NTA) has announced that 23 candidates have achieved a perfect score of 100 in the JEE-Main engineering entrance exam. The majority of these high scorers hail from Telangana. A total of 11.70 lakh candidates appeared for this crucial exam. Out of the 100 NTA scorers, seven are from Telangana, two from Haryana, three each from Andhra Pradesh, Rajasthan, and Maharashtra, two from Delhi, and one each from Gujarat, Karnataka, and Tamil Nadu. The NTA officials clarified that the NTA score is not the same as the percentage of marks obtained but represents normalised scores. A senior official explained, «NTA scores are normalised scores across multi-session papers and are based on the relative performance of all those who appeared for the examination in one session. The marks obtained are converted into a scale ranging from 100 to 0 for each session of examinees.»

National Testing Agency (NTA) has released the final answer keys and announced the results of the Joint Entrance Examination (JEE) Mains 2024 session 1 exams on Monday. The Paper 1 exams were held on 27, 29, 30,31 January and 1 February, while the Paper 2 exam was held on 24 January. Among the candidates who scored 100 NTA scores, seven are from Telangana, two from Haryana, three each from Andhra Pradesh, Rajasthan and Maharashtra, two from Delhi and one each from Gujarat, Karnataka and Tamil Nadu.

By Chijioke Ohuocha

ABUJA — MTN Nigeria, a leading telecommunications company, is advancing its infrastructure strategy by reallocating approximately 2,500 network sites from IHS Towers to American Tower (NYSE:AMT) Corporation (ATC). This move is part of a detailed bidding process that aligns with the company's contract renewal schedule, with most IHS agreements set to conclude by 2029.

By Chijioke Ohuocha

Blockchain technology can help solve economic problems in Nigeria and throughout the African continent, according to a group of local blockchain experts who cited Nigeria’s currency flow shortage as a case study.

A group of Nigerian professionals in digital assets took to the stage at the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, to discuss the future of digital assets in Nigeria in regards to regulation. 

While Nigeria appears to have a high level of blockchain and crypto awareness, the country is still facing issues related to public education in the field. A group of local blockchain experts discussed blockchain education's challenges in Nigeria at the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital.

By Chijioke Ohuocha

By Camillus Eboh

Google plans to train 20,000 Nigerian women and youth in digital skills and provide a grant of 1.2 billion naira ($1.6 million) to help the government create one million digital jobs in the country, its Africa executives said on Tuesday. Nigeria plans to create digital jobs for its teeming youth population, vice president Kashim Shettima told Google Africa executives during a meeting in Abuja.

By Elisha Bala-Gbogbo

ABUJA (Reuters) — Nigeria's President Bola Tinubu has appointed a financial watchdog to investigate the central bank, weeks after he suspended its governor, a copy of a letter from the president showed on Sunday.