The Federal High Court in Abuja has convicted a Nigerian crypto dealing company, Official Gredo Limited, for illegally conducting USDT to Naira transactions without a banking license. Justice Inyang Ekwo convicted Official Gredo on Wednesday in accordance with the company’s plea bargain arrangement with the Economic and Financial Crimes Commission (EFCC), while ordering the forfeiture…
GISTSMATE MEDIA reports that the Federal Teaching Hospital, Gombe, Gombe State, has prohibited its staff members from trading cryptocurrency during work hours. This was contained in a viral circular dated September 18, 2024 signed by the Deputy Director of Administration, Adamu Tela. A copy of the circular was obtained by PUNCH correspondent on Friday. Our…
The cryptocurrency trading platform Binance has outlined two conditions that must be met before it can consider registering under Nigeria’s Securities and Exchange Commission’s (SEC) special framework program for onboarding Virtual Assets Service Providers (VASPs), including crypto platforms. Binance’s position is in response to the regulatory frameworks set out for cryptocurrency platforms by Nigeria’s regulatory…
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry. Speaking over the weekend at the FIRS 2024 Stakeholders Engagement with the Senate and House of Representatives Committees on Finance…
The Nigerian government has frozen more than $37 million worth of cryptocurrency held in wallets believed to be owned by some organisers of #EndBadGovernance protesters. The freezing followed an order by the Federal High Court in Abuja. The judge, Emeka Nwite, gave the order in a ruling delivered on 9 July, a copy of the…