In a bid to restore confidence in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken decisive action, revoking the licenses of 4,173 Bureaux De Change (BDC) operators. This move, announced by the bank’s Acting Director of Corporate Communications, Sidi Ali Hakama, signifies a stringent response to the failure of these institutions…
In a recent development, the Federal Government of Nigeria (FG) has taken decisive action against cryptocurrency exchanges, particularly targeting Binance, one of the world’s largest platforms. According to reports from the Financial Times on Wednesday, two high-level executives from Binance have been detained as part of this crackdown. The FG has obtained a court warrant…
EFCC Case : Eze Harrison Arinze faced the gavel of justice at the Federal High Court in Abuja, culminating in a conviction and sentencing by Justice J.K Omotosho. The case unfolded as Arinze, under the guise of Charlotte Brain, orchestrated a fraudulent scheme via the fictitious investment platform digitrades.netxxxxxxxxxxxxxx on Telegram. The scam, carried out…
In a historic move, Binance Holdings Limited, the operator of the world’s largest cryptocurrency exchange, Binance.com, has admitted guilt in a plea deal with the U.S. Department of Justice. The guilty plea encompasses a range of serious charges, including Anti-Money Laundering (AML) violations, failure to register as a money transmitting business, and breaches of the…
