The management of the Federal Teaching Hospital in Gombe has issued a stern warning to staff regarding cryptocurrency mining and trading activities during work hours. In a circular dated 18 September, the hospital’s deputy director of administration, Adamu Usman Teld, stated that such activities are strictly prohibited while on duty. The circular reads: “I am directed to caution all members …

The Securities and Exchange Commission (SEC) on Wednesday, explained that it granted approval-in-principle to two crypto exchanges recently to give Nigerian youths the opportunity for capital market participation. The News Agency of Nigeria (NAN) reports that SEC, on Thursday, granted Busha Digital Ltd., and Quidax Technologies Ltd., “approval-in-principle” to commence operation under the Accelerated Regulatory Incubation Program (ARIP). The Director …

The Securities Exchange Commission (SEC) says it plans to license providers of virtual assets including cryptocurrencies to tap opportunities and protect investors as adoption rates surge in Nigeria. Speaking during an interview with Bloomberg, SEC’s director-general, Emomotimi Agama said the commission intends to issue first licences for digital service and tokenised assets this month. “Being a crypto enthusiast and fintech …

The International Monetary Fund (IMF) has explained why the Central Bank of Nigeria (CBN) should issue operating licences or register cryptocurrency dealers. In its 2024 Staff Report released at the weekend, the IMF recommends that global crypto trading platforms be registered or licensed in Nigeria, like similar operators, the Bureaux De Change (BDCs), which are licensed by the CBN to …

The Federal Government, through the Securities and Exchange Commission (SEC), is set to delist the naira from all Peer-to-Peer (P2P) platforms to reduce the manipulation of the local currency value in the foreign exchange market. SEC’s Director General, Emomotimi Agama disclosed this during an interactive session with the Nigerian Blockchain Industry. This is expected to be part of a couple …

The Federal Government may consider the suspension of the $56.7 billion peer-to-peer cryptocurrency market after a crucial meeting between the Securities and Exchange Commission (SEC), and digital asset operators scheduled for Monday. Nigeria’s volume of crypto transactions grew by nine per cent year-over-year to $56.7 billion between July 2022 and June 2023, according to the 2023 Geography of Cryptocurrency Report …

The Chief Executive Officer of one of the leading cryptocurrency platforms in Nigeria, NoOnes, Ray Youssef, has revealed that peer-to-peer popularly known as P2P is probably like $500 billion business in Nigeria alone. Youssef said this in an interview with Techpoint Africa on the heels of an imminent ban on cryptocurrency in the country. Speaking on the astronomical P2P transactions …

To manage customer expectations and keep faith with its avowed commitment to customers, Patricia Technologies Limited, a leading cryptocurrency company, has announced a two to five-year repayment regime for all customers who lost money following the recent breach of the company’s platform by some high-profile hackers, some of whom are now in police custody. In a statement in Lagos on …

Cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions, the Central Bank of Nigeria (CBN) has disclosed. Withdrawals from these accounts will only be possible by transfer or through a manager’s cheque, the apex bank explained. It revealed this in a new ‘Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers’. According …

A financial expert, Mr Okechukwu Unegbu has commended the Central Bank of Nigeria (CBN) for lifting the restrictions on cryptocurrency transactions. Unegbu, a past president of the Chattered Institute of Bankers of Nigeria (CIBN), said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The CBN had announced the reversal of the policy banning …