Nigeria

Nigerian authorities issue a final warning to Binance CEO Richard Teng

Nigerian authorities have reportedly issued a final warning to Binance CEO Richard Teng, demanding his presence before the House of Representatives Committee on Financial Crimes by March 4. This comes after Binance settled with the U.S. Department of Justice for money laundering and agreed to a $4.3 billion fine. The committee is investigating Binance for alleged financial crimes, including money laundering and supporting terrorism. Failure to comply could lead to

Nigeria’s CBN to launch cNGN stablecoin on February 27

The Central Bank of Nigeria (CBN) is preparing to launch its naira stablecoin, cNGN, on February 27, 2024, in a significant step toward embracing blockchain technology. This ground-breaking initiative is part of a pilot program within the CBN’s regulatory sandbox, and it represents a significant step forward in improving global transactions. The Africa Stablecoin Consortium, comprised of Nigerian banks and fintech firms, was instrumental in obtaining approval for the cNGN