Nigeria Financial News

Nigerian authorities has asked in court for cryptocurrency exchange Binance and two of its executives to be tried for alleged money laundering and tax evasion, the first legal step following weeks of a criminal investigation into the trading platform

The arraignment of two Binance executives held against their will by Nigerian authorities has been postponed until April 19 as the country seeks criminal charges against the Nigeria crypto duo, an Abuja court hearing reveals.

The Nigerian government and the International Criminal Police Organization (Interpol) have commenced a concerted plan to extradite Binance Chief Nadeem Anjarwalla who escaped from detention on March 22, 2024.

Bitcoin is becoming a valuable tool to escape high inflation in countries with less stable currencies, according to Ark Invest CEO Cathie Wood.

Crypto exchange Bitget on Tuesday announced a partnership with payment solutions provider OnRamp to streamline the conversion of fiat money into cryptocurrencies.

Binance executive Nadeem Anjarwalla absconded from Nigerian custody in February after his arrest. At the time, he was detained along with American colleague Tigran Gambaryan on accusations of misconduct related to the exchange.

Easter baskets this year. Chocolate eggs and bunnies are more expensive than ever as changing climate patterns eat into global cocoa supplies and the earnings of farmers in West Africa. About three-quarters of the world's cocoa — the main ingredient in chocolate — are produced on cacao trees in Ghana, Ivory Coast, Nigeria and Cameroon. But dusty seasonal winds from the Sahara were severe in recent months, blocking out the sunlight needed for bean pods to grow. The season prior, heavy rainfall spread a rotting disease. With exports from the Ivory Coast, the world's top producer, down by a third in recent months, the global price of cocoa has risen sharply. Cocoa futures have already doubled this year, trading at a record high of more than $10,000 per metric ton in New York on Tuesday after rising more than 60% the previous year. Farmers who harvest cacao beans say the increases aren't enough to cover their lower yields and higher production costs.

Detained Binance executive Tigran Gambaryan has sued two Nigerian agencies, accusing them of infringing his basic human rights.

Crypto, the buzzword in the world of finance. There are currently around 31 million users of these digital assets in Europe, according to estimations from cryptocurrency payment gateway TripleA.

Shoppers may get a bitter surprise in their Easter baskets this year

ABUJA (Reuters) -Nigeria's central bank raised its monetary policy rate by 200 basis points to 24.75% from 22.75%, its governor Olayemi Cardoso said on Tuesday.

SWIFT, the global messaging network used by banks, service providers, clearinghouses, corporate business houses, brokers, is planning to launch a new platform to connect central bank digital currencies (CBDCs) in the next one to two years, according to a Reuters report citing the firm’s head of innovation, Nick Kerigan.

Authorities in Nigeria say an executive of global cryptocurrency exchange Binance has escaped custody in the West African nation where a criminal investigation has been launched against the platform accused of being used for money laundering

Binance's regional manager for Africa, British-Kenyan Nadeem Anjarwalla, was detained alongside colleague Tigran Gambaryan by the Nigerian government in late February.While the two executives were not charged with any crime, the government demanded almost $10 billion in compensation from the cryptocurrency firm, accusing it of manipulated foreign exchange rates through currency speculation and rate-fixing.The central bank governor Olayemi Cardoso said Binance Nigeria had moved $26 billion worth of untraceable funds.A presidential spokesman has now told Bloomberg that Anjarwalla has escaped from the guest house where he was being detained. Amid speculation that he has fled the country, Nigerian is working with Interpol to secure an international arrest warrant for him.A Binanance spokesperson has told CNBC: "We were made aware that Nadeem is no longer in Nigerian custody.

One of two Binance executives detained in Nigeria has escaped custody, while the Nigerian government has filed new tax evasion charges against the global cryptocurrency exchange.

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

Easter 2024 is a few days away and Netflix, Apple TV+, Disney+, Peacock, Hulu, Prime Video, AMC and AMC+ are releasing a number of movies and shows throughout the week for their viewers. Bill Nighy leads a charming crowd-pleaser on Netflix, “The Beautiful Game,” in which he plays an English soccer (sorry, football) manager taking a team to the Homeless World Cup in Rome. It starts streaming on Friday, March 29.

By Ahmed Kingimi

As Bitcoin continues to shape the cryptocurrency landscape, its influence extends to altcoins like Solana (SOL), which recently rebounded from the $170 mark, hinting at a potential end to the recent sell-off.

Hundreds of students in Nigeria rushed to get food donated to their school by the government to help ease hardship, triggering a stampede that left two dead and 23 others injured

West African nation Liberia is mulling to create central bank digital currency (CBDC) in collaboration with real-world asset platform Gluwa.