News
Nigeria has one of the highest rates of crypto adoption in the world, but the government has a complicated relationship with digital assets.
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Nigeria News
Nigeria is seventh most populous country, and most populous in Africa. Nigeria also has the largest economy in Africa, with more than $500 billion of nominal gross domestic product. The Word Bank considers Nigeria to be an emerging market and is widely seen as a perspective economy. Still, it ranks 152nd in the Human Development Index and has a large variety of problems regarding the lack of education, organized crime and human rights. Bitcoin is legal in Nigeria, but the Nigerian SEC, or Securities and Exchange Commission, warned citizens about cryptocurrency investments being risky and sometimes even fraudulent. However, the Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria have plans to adopt cryptocurrency technology and have several sub-committees working on implementing blockchain into governmental insurance and financial services.
- Opinion
As Nigeria navigates its burgeoning cryptocurrency landscape, the government seeks to balance innovation with necessary regulation, aiming to build a secure, inclusive digital economy that empowers its citizens.
885 - Analysis
As Nigeria grapples with economic challenges, the government is set to introduce a tax on cryptocurrency transactions. This move appears to be an effort to tap into the burgeoning digital economy and the informal sector.
2600 - Newsletter
The Nigerian government alleged that Binance caused economic damages after crashing the country’s fiat currency.
11895 - News
According to Nairametrics, Nigeria’s total money supply (M2) increased 17% year-over-year in January 2025, diluting the currency’s value.
7101 - Markets News
Stablecoin use in emerging markets soars despite the absence of crypto-friendly regulations and basic banking infrastructure. Will the US catch up to this trend?
2230 - News
Nigeria is planning to amend digital asset regulations to tax crypto transactions, a move it believes will bring in substantial revenue.
2024 - New Year Special
Bitcoin crossed $100K, marking a bullish year. Still, legal battles, regulatory crackdowns and poor decisions tested the industry.
9839 - News
The SEC’s new rules on digital asset promotions aim to “curb the menace” of social media influencers promoting unregulated crypto products.
3605 - News
Nigeria’s anti-corruption agency arrested 792 people suspected to be involved in a crypto romance scam scheme based out of the country’s largest city.
6524 - News
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.
14390 - News
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.
4913 - News
After eight months’ detainment in Nigeria and court delays, Binance’s head of financial crime compliance, Tigran Gambaryan, is heading home for medical treatment.
4099 - Breaking news
Announcing the withdrawal of the charges, the EFCC lawyer reportedly said that Tigran Gambaryan was merely an employee of Binance.
7444 - News
Concerns increased over Tigran Gambaryan’s well-being on Oct. 18 after his illness prevented him from appearing in court.
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