Wed, November 13

Nigeria

Nigeria Withdraws Case Against Tigran Gambaryan

Nigeria Withdraws Case Against Binance’s Tigran Gambaryan

Nigeria has withdrawn money laundering charges against Tigran Gambaryan, an executive at Binance. This decision comes as Gambaryan seeks medical treatment abroad, according to the government’s lawyer. The announcement occurred during a court session at the Federal High Court in Abuja on October 23. Gambaryan, a U.S. citizen, has been

October 23, 2024 2 mins read
Nigerian Court Denies Bail for Binance's Compliance Chief

Nigerian Court Denies Bail to Binance Compliance Chief Despite Health Issues

A Nigerian court denied bail to Tigran Gambaryan, Binance’s Compliance Chief, despite his worsening health condition.The decision was handed down on October 11, 2024, following Gambaryan’s second bail plea. His legal team highlighted his medical condition, arguing that he requires urgent attention, but the court rejected the request. Gambaryan faces

October 11, 2024 2 mins read
Binance

Binance CEO Pledges to Secure Release of Tigran Gambaryan

Binance CEO, Richard Teng has said that the company is working so hard to bring Tigran Gambaryan back to his home. Binance’s head of financial crime compliance, Tigran Gambaryan, is currently imprisoned in Nigeria after being arrested on February 26, 2024. He faces serious charges of tax evasion and money

September 19, 2024 2 mins read
Nigeria SEC Tightens Crypto Regulatory Frameworks for Exchanges

Nigeria SEC Tightens Crypto Regulatory Frameworks for Exchanges

Nigeria’s SEC has planned to take legal action against crypto exchanges and investors. Those who fail to abide by their regulatory frameworks. Nairametrics, a local Nigerian media has reported that Dr. Emomotimi Agama, the SEC Director-General is emphasizing that the committee is determined to protect investors. Similarly, in July, the

September 9, 2024 2 mins read
Nigeria’s Interest Rates Under Pressure After Fuel Price Surge

Nigeria’s Interest Rates Under Pressure After Fuel Price Surge

The recent hike in the petroleum price by 45% might continue to put pressure on the Central Bank of Nigeria to pause the interest rate hike meeting scheduled this month.   The central bank has raised its interest rate by 15.25 percent since 2022, taking it to a record of 26.75%

September 5, 2024 2 mins read
Binance CEO Calls for Gambaryan’s Release Due to Inhuman Treatment

Binance CEO Calls for Gambaryan’s Release Due to Inhuman Treatment

A new video circulating on social media platforms like X (formerly Twitter) shows disturbing footage of Tigran Gambaryan, Binance’s head of crime compliance, who is currently imprisoned in Nigeria. The video has sparked significant outrage and calls for his release, especially as his health reportedly worsens. This inhumane treatment of

September 3, 2024 1 min read
Nigerian Ministry Collaborates with INTMAX to Drive Blockchain Innovation

Nigerian Ministry Collaborates with INTMAX to Drive Blockchain Innovation

A strategic relationship has been established between the Ministry of Digital Economy, Science and Technology Edo State, Nigeria, and INTMAX, the leading Ethereum Layer 2 solution developer. Nigerian pressure on the crypto market coincides with this partnership, highlighting Edo State’s dedication to innovation and digital development. Through this relationship, INTMAX will have

August 27, 2024 2 mins read
Nigerian Court Denies Bail for Binance's Compliance Chief

Nigerian Court Advances Binance Money Laundering Case to September

A Nigerian court is bringing forward the hearing of a money laundering case involving Binance, the world’s largest cryptocurrency exchange, and two of its executives. The case, initially set for October 11, will now be heard on September 2, involving allegations of laundering over $35 million and tax evasion. This

August 27, 2024 2 mins read
The country's vice president, Kashim Shettima, has said that Nigeria is prepared to surpass other developed nations economically and technologically. As part of Nigeria's plan for digital transformation and leadership in Africa, Shettima revealed this on Tuesday when he inaugurated the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Dutse, the capital of Jigawa State. In collaboration with the prominent tech firm Gluwa, the AI Expertise Blockchain and Technology Training and Outsourcing Initiative seeks to provide training in artificial intelligence, blockchain, and other cutting-edge technologies to 1,000 Nigerians every year. The Vice President urged Nigerian youngsters to embrace the initiative, stating that it is critical to the country's economic future, at the initiative's debut at the Yakubu Gowon NYSC Orientation Camp, Fanisau, Dutse. According to him: “We are not merely catching up with the rest of the world; we are poised to overtake them. This initiative offers its beneficiaries the chance to become part of a global workforce, driving innovation that will shape our future”. Together with outlining the initiative's wider goals, he said that the federal government is aiming to establish a nationwide network of tech centers that would sustain Nigeria's economic development for many years to come. The Vice President expressed gratitude for the collaboration with Gluwa, saying it is in line with President Tinubu's plan to transform Nigeria's digital technology space. He praised Gluwa for empowering Aella Microfinance Bank and enabling the flow of nearly N100 billion to two million Nigerians, while also acknowledging the substantial impact of the company. Jigawa State Governor Umar Namadi highlighted the significance of the initiative in his previous speech, calling it a unique chance that is right at the young people's doorstep. According to him, the new initiative prioritizes innovation and digital technologies and is in line with Jigawa State's 12-Point Agenda as well as the federal government's Renewed Hope Agenda. The governor went on to announce the creation of a new ICT & Digital Economy Agency, stating, that they are more committed than ever to re-establish Jigawa State as a significant ICT hub in Nigeria. Shettima had earlier announced the launch of the fourth iteration of the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Clinic, revealing that President Bola Tinubu had issued an executive order directing the federal government to provide N150,000 grants to each state's business owners as part of its support for MSMEs nationwide. He said that the N150,000 that the president had allocated to each MSMEs was an outright grant that did not need to be repaid. One of the federal government's initiatives to facilitate business in Nigeria is the Expanded National MSME Clinics. These are a series of business forums that are arranged throughout the nation to offer MSMEs immediate solutions to problems they face. The first, second, and third editions of the clinics were introduced earlier this year in the states of Benue, Ogun, and Ekiti, respectively. The MSMEs sub-sector, according to Shettima, is the backbone of the country's economy and has been a top priority for the Tinubu administration. They not only account for over 45% of Nigeria's GDP and 96% of all businesses in the country, but they also provide a vital lifeline for 80% of the workforce. Malam Umar Namadi, the governor of Jigawa State, had earlier expressed gratitude to the federal government for granting the state's citizens dividends of democracy via the MSME Clinics and other similar initiatives dispersed around the region. Namadi called the initiative a unique chance for operators in the state's small business sector and encouraged both current and prospective entrepreneurs to use the services offered by the clinics.

Nigeria Unveils Ambitious AI and Blockchain Training Initiative in Collaboration With Gluwa

The country’s vice president, Kashim Shettima, has said that Nigeria is prepared to surpass other developed nations economically and technologically. As part of Nigeria’s plan for digital transformation and leadership in Africa, Shettima revealed this on Tuesday when he inaugurated the AI Expertise Blockchain and Technology Training and Outsourcing Initiative

July 24, 2024 3 mins read
The country's vice president, Kashim Shettima, has said that Nigeria is prepared to surpass other developed nations economically and technologically. As part of Nigeria's plan for digital transformation and leadership in Africa, Shettima revealed this on Tuesday when he inaugurated the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Dutse, the capital of Jigawa State. In collaboration with the prominent tech firm Gluwa, the AI Expertise Blockchain and Technology Training and Outsourcing Initiative seeks to provide training in artificial intelligence, blockchain, and other cutting-edge technologies to 1,000 Nigerians every year. The Vice President urged Nigerian youngsters to embrace the initiative, stating that it is critical to the country's economic future, at the initiative's debut at the Yakubu Gowon NYSC Orientation Camp, Fanisau, Dutse. According to him: “We are not merely catching up with the rest of the world; we are poised to overtake them. This initiative offers its beneficiaries the chance to become part of a global workforce, driving innovation that will shape our future”. Together with outlining the initiative's wider goals, he said that the federal government is aiming to establish a nationwide network of tech centers that would sustain Nigeria's economic development for many years to come. The Vice President expressed gratitude for the collaboration with Gluwa, saying it is in line with President Tinubu's plan to transform Nigeria's digital technology space. He praised Gluwa for empowering Aella Microfinance Bank and enabling the flow of nearly N100 billion to two million Nigerians, while also acknowledging the substantial impact of the company. Jigawa State Governor Umar Namadi highlighted the significance of the initiative in his previous speech, calling it a unique chance that is right at the young people's doorstep. According to him, the new initiative prioritizes innovation and digital technologies and is in line with Jigawa State's 12-Point Agenda as well as the federal government's Renewed Hope Agenda. The governor went on to announce the creation of a new ICT & Digital Economy Agency, stating, that they are more committed than ever to re-establish Jigawa State as a significant ICT hub in Nigeria. Shettima had earlier announced the launch of the fourth iteration of the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Clinic, revealing that President Bola Tinubu had issued an executive order directing the federal government to provide N150,000 grants to each state's business owners as part of its support for MSMEs nationwide. He said that the N150,000 that the president had allocated to each MSMEs was an outright grant that did not need to be repaid. One of the federal government's initiatives to facilitate business in Nigeria is the Expanded National MSME Clinics. These are a series of business forums that are arranged throughout the nation to offer MSMEs immediate solutions to problems they face. The first, second, and third editions of the clinics were introduced earlier this year in the states of Benue, Ogun, and Ekiti, respectively. The MSMEs sub-sector, according to Shettima, is the backbone of the country's economy and has been a top priority for the Tinubu administration. They not only account for over 45% of Nigeria's GDP and 96% of all businesses in the country, but they also provide a vital lifeline for 80% of the workforce. Malam Umar Namadi, the governor of Jigawa State, had earlier expressed gratitude to the federal government for granting the state's citizens dividends of democracy via the MSME Clinics and other similar initiatives dispersed around the region. Namadi called the initiative a unique chance for operators in the state's small business sector and encouraged both current and prospective entrepreneurs to use the services offered by the clinics.

Nigeria Updates Digital Asset Policies, Launches Compliance Program

Regulators in Nigeria have updated their policies on the issuance, offering, exchange, and custody of digital assets. The SEC announced its intention to revise these important rules in a public notice. A more thorough and adaptable regulatory framework, more suited to the intricacies of digital asset markets, is the goal

June 21, 2024 2 mins read
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