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A Nigerian court has convicted two more cryptocurrency firms, Egomsinachi Road Autos Limited and Chimera Log & Haulage Services Limited, for conducting unauthorized USDT-to-naira transactions. As a result, they’ve been ordered to transfer nearly $30,000 to the federal government. The latest court decision came just a few months after other crypto firms, Paparaxy Global Ventures … Read more
The Federal Ministry of Communications, Innovation, and Digital Economy (FMCIDE) in Nigeria has announced a $1.7 million (NGN2.8 billion) Google grant to promote artificial intelligence (AI) talent development. This will support the Ministry’s AI initiatives and align with Google.org’s $5.8 million commitment to digital skills programs across Sub-Saharan Africa. The grant will aid Data Science … Read more
U.S. President Joe Biden has praised Nigeria’s efforts in combating crypto-related financial crimes, including the recent release of a former Binance executive. Biden, Tinubu Strengthen US-Nigeria Ties With Crypto Crime Initiative The White House announced Tuesday that U.S. President Joe Biden held a call with Nigerian President Bola Tinubu, touching on recent humanitarian and diplomatic … Read more
A former IRS special agent and Binance’s head of financial crime compliance, Tigran Gambaryan had been in Nigerian custody with reports of deteriorating health since February. Go to Source
The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains. Go to Source
After eight months’ detainment in Nigeria and court delays, Binance’s head of financial crime compliance, Tigran Gambaryan, is heading home for medical treatment. Go to Source
Concerns increased over Gambaryan’s well-being on Oct. 18 after his illness prevented him from appearing in court. Go to Source
Judge Emeka Nwite ruled that Tigran Gambaryan should stay in prison unless his health condition poses a threat to others and quarantine is unavailable. Go to Source
Nigerian fintech startup Okra has entered the cloud infrastructure market in West Africa with its new subsidiary, Nebula. The move aims to diversify revenue and mitigate economic risks. Nebula offers a more affordable alternative to global cloud providers and aligns with the government’s push for local cloud adoption. Despite facing challenges, Okra hopes Nebula will … Read more
Nigeria and Ethiopia have both experienced local currency devaluation which has driven stablecoin adoption. Go to Source
