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Nigerian Court Denies Bail for Binance Executive
🇳🇬 On May 17, the Federal High Court in Abuja denied a bail request for Tigran Gambaryan, Vice President of Global Intelligence and Investigations at Binance, as reported by local media.
⚖️ The judge, after a thorough review of the application, determined that the accused was unlikely to appear in court if released on bail.
👀 Earlier, Binance CEO #RichardTeng appealed to Nigerian authorities for Gambaryan's release, describing the arrest as a tactic to pressure the exchange and alleging an extortion attempt by "unknown individuals." The government refuted any bribery allegations.
Nadeem Anjarwalla, Binance's director for West and East Africa, who was detained alongside Gambaryan, managed to escape custody to Kenya. However, #Nigerian authorities tracked him down and are arranging his extradition.
🧐 Gambaryan and Anjarwalla face charges of tax evasion and using the #exchange to launder nearly $21.6 billion.
#MemeWatch2024 #BTC
🇳🇬 On May 17, the Federal High Court in Abuja denied a bail request for Tigran Gambaryan, Vice President of Global Intelligence and Investigations at Binance, as reported by local media.
⚖️ The judge, after a thorough review of the application, determined that the accused was unlikely to appear in court if released on bail.
👀 Earlier, Binance CEO #RichardTeng appealed to Nigerian authorities for Gambaryan's release, describing the arrest as a tactic to pressure the exchange and alleging an extortion attempt by "unknown individuals." The government refuted any bribery allegations.
Nadeem Anjarwalla, Binance's director for West and East Africa, who was detained alongside Gambaryan, managed to escape custody to Kenya. However, #Nigerian authorities tracked him down and are arranging his extradition.
🧐 Gambaryan and Anjarwalla face charges of tax evasion and using the #exchange to launder nearly $21.6 billion.
#MemeWatch2024 #BTC
You'll never know the actual value of your spots hodling even When your coins are yet to perform Ceteris Paribus, your buying power decrease. You can't buy as much $ with same amount last month. Just only be Grateful if you've been loading since 530/$. I got the space when $ was 280.
#Nigerian #P2P #p2p #Worldcoin #MultiChain
$USDC
#Nigerian #P2P #p2p #Worldcoin #MultiChain
$USDC
Nigeria Tops Global Cryptocurrency Awareness Rankings: Survey
CryptosHeadlines.com - The Leading Crypto Research Network
Nigeria ranks as the world’s most cryptocurrency-aware nation, with a staggering 99% of its population familiar with cryptocurrencies, as per a global survey by ConsenSys and YouGov.
Nigeria, Africa’s largest economy, leads the world in cryptocurrency awareness, as per a global survey by ConsenSys and YouGov. This survey aimed to understand how different countries perceive cryptocurrencies and the broader Web3 ecosystem.
The key findings show that Nigeria and South Africa rank highest in cryptocurrency awareness. Compared to respondents from major economies like the UK, US, Japan, and Germany, 99% of Nigerians and 98% of South Africans have a solid grasp of Web3 concepts.
The survey included 15,158 people aged 18 to 65 from 15 countries. Impressively, 70% of Nigerians said they understand the basics of blockchain technology.
Ownership rates highlight Nigeria’s strong cryptocurrency awareness, with 76% of 1,001 Nigerian respondents stating they currently hold or have owned cryptocurrencies before.
Bitcoin and Ethereum are the most popular cryptocurrencies in Nigeria, followed by BNB and Dogecoin, with Tether lagging behind.
In Nigeria, a striking 90% of survey respondents expressed keen interest in investing in cryptocurrencies within the upcoming year. Additionally, 65% of these respondents regarded cryptocurrencies as a safeguard against hyperinflation and the devaluation of their local currency.
Despite facing regulatory challenges, notably the Central Bank of Nigeria’s move to sever ties between cryptocurrency exchanges and local banks in February 2021, half of the survey participants, or 50%, believed that regulatory authorities should introduce regulations that both foster cryptocurrency involvement and safeguard investors.
The survey also unveiled a disparity between cryptocurrency awareness and comprehension. While a considerable 92% of the respondents were aware of cryptocurrencies, merely 8% demonstrated a solid understanding of Web3, signifying a noticeable gap in knowledge. Survey participants viewed Web3 as the next phase of internet evolution, promising decentralization, enhanced privacy, and digital asset ownership.
Furthermore, a significant proportion of respondents desired more control over their online identity and data privacy. In fact, 70% of those surveyed believed they should have a stake in the profits generated from their data. Trust in existing internet services, particularly social media platforms, was notably low, underscoring the urgency for improved solutions regarding identity ownership and privacy.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #cryptomarket #Nigerian #NigeriaNews
Nigeria ranks as the world’s most cryptocurrency-aware nation, with a staggering 99% of its population familiar with cryptocurrencies, as per a global survey by ConsenSys and YouGov.
Nigeria, Africa’s largest economy, leads the world in cryptocurrency awareness, as per a global survey by ConsenSys and YouGov. This survey aimed to understand how different countries perceive cryptocurrencies and the broader Web3 ecosystem.
The key findings show that Nigeria and South Africa rank highest in cryptocurrency awareness. Compared to respondents from major economies like the UK, US, Japan, and Germany, 99% of Nigerians and 98% of South Africans have a solid grasp of Web3 concepts.
The survey included 15,158 people aged 18 to 65 from 15 countries. Impressively, 70% of Nigerians said they understand the basics of blockchain technology.
Ownership rates highlight Nigeria’s strong cryptocurrency awareness, with 76% of 1,001 Nigerian respondents stating they currently hold or have owned cryptocurrencies before.
Bitcoin and Ethereum are the most popular cryptocurrencies in Nigeria, followed by BNB and Dogecoin, with Tether lagging behind.
In Nigeria, a striking 90% of survey respondents expressed keen interest in investing in cryptocurrencies within the upcoming year. Additionally, 65% of these respondents regarded cryptocurrencies as a safeguard against hyperinflation and the devaluation of their local currency.
Despite facing regulatory challenges, notably the Central Bank of Nigeria’s move to sever ties between cryptocurrency exchanges and local banks in February 2021, half of the survey participants, or 50%, believed that regulatory authorities should introduce regulations that both foster cryptocurrency involvement and safeguard investors.
The survey also unveiled a disparity between cryptocurrency awareness and comprehension. While a considerable 92% of the respondents were aware of cryptocurrencies, merely 8% demonstrated a solid understanding of Web3, signifying a noticeable gap in knowledge. Survey participants viewed Web3 as the next phase of internet evolution, promising decentralization, enhanced privacy, and digital asset ownership.
Furthermore, a significant proportion of respondents desired more control over their online identity and data privacy. In fact, 70% of those surveyed believed they should have a stake in the profits generated from their data. Trust in existing internet services, particularly social media platforms, was notably low, underscoring the urgency for improved solutions regarding identity ownership and privacy.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #cryptomarket #Nigerian #NigeriaNews
To all #Nigerian reading this message:
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Greetings! My name is Abubakar, and I am excited to introduce you to a groundbreaking Escrow service tailored specifically for our community. In an era where trust and security are paramount, I have developed a new Escrow service that facilitates seamless transactions for buying and selling crypto-related assets.
Why should you trust me? Allow me to assure you that I operate with the highest level of integrity and professionalism. With years of experience in the crypto space and a deep understanding of our unique market needs, I am committed to providing a safe and reliable platform for all your transactions.
Joining our group is your gateway to hassle-free crypto transactions. Whether you're a seasoned trader or just dipping your toes into the world of cryptocurrency, you can rest assured that your assets are in safe hands with me as your trusted escrow.
Don't miss out on this opportunity to experience a new standard of security and convenience in your crypto transactions. Click the link below to join our platform group and start trading with confidence:
talk to me I will add you to the group +2348066061198
Thank you for considering my Escrow service. I look forward to serving you and building a thriving crypto community together.
Warm regards,
Abubakar
#Write2Earn Binance Implements a #USDT. Price Cap in Order to Comply with #Nigerian Regulations
♦️ In order to comply with Nigerian local authorities, Binance has placed a cap on the price at which Tether USDT tokens may be sold on its peer-to-peer (P2P) network. Currently, traders on Binance are unable to sell USDT for more than a ceiling of 1,802 naira per USDT.
🔶 The cryptocurrency exchange assured its Nigerian users that it would collaborate closely with legislators, local authorities, and regulators to make sure that users who violate the price cap are taken seriously. Users can transact directly with other users to buy and sell cryptocurrency for fiat money using Binance P2P.
🔷 The price cap prevented traders from selling above it, forcing them to switch to other exchanges where they could transact without limitations.
♦️ The Central Bank of Nigeria (CBN) and the Office of the National Security Adviser in Nigeria launched a cooperative effort to address the problems harming the nation’s economic stability and stop FX speculation.
🔶 The campaign emphasizes how speculators’ actions, both locally and abroad and via various channels, have contributed significantly to the depreciation of the naira, escalating inflation and creating economic instability in Nigeria.
🔷 The naira significantly declined against the US dollar on the foreign exchange rate market when the Nigerian government unified the forex windows in the middle of 2023. It doubled from roughly 700 naira/$1 to a record high of over 1,500 naira/$1.
♦️The Nigerian Securities and Exchange Commission (SEC) advised domestic investors not to use Binance in July 2023. The organization said that the platform’s activities were unlawful and that it lacked a license to operate in the nation. It also served as a reminder to the general public of the high degree of risk and possible complete loss of investments:
♦️ In order to comply with Nigerian local authorities, Binance has placed a cap on the price at which Tether USDT tokens may be sold on its peer-to-peer (P2P) network. Currently, traders on Binance are unable to sell USDT for more than a ceiling of 1,802 naira per USDT.
🔶 The cryptocurrency exchange assured its Nigerian users that it would collaborate closely with legislators, local authorities, and regulators to make sure that users who violate the price cap are taken seriously. Users can transact directly with other users to buy and sell cryptocurrency for fiat money using Binance P2P.
🔷 The price cap prevented traders from selling above it, forcing them to switch to other exchanges where they could transact without limitations.
♦️ The Central Bank of Nigeria (CBN) and the Office of the National Security Adviser in Nigeria launched a cooperative effort to address the problems harming the nation’s economic stability and stop FX speculation.
🔶 The campaign emphasizes how speculators’ actions, both locally and abroad and via various channels, have contributed significantly to the depreciation of the naira, escalating inflation and creating economic instability in Nigeria.
🔷 The naira significantly declined against the US dollar on the foreign exchange rate market when the Nigerian government unified the forex windows in the middle of 2023. It doubled from roughly 700 naira/$1 to a record high of over 1,500 naira/$1.
♦️The Nigerian Securities and Exchange Commission (SEC) advised domestic investors not to use Binance in July 2023. The organization said that the platform’s activities were unlawful and that it lacked a license to operate in the nation. It also served as a reminder to the general public of the high degree of risk and possible complete loss of investments:
Nigerian crypto community split over govt’s bid for Binance user data
"Chukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surprising and doubts Binance will comply.
Nigerian cryptocurrency stakeholders are weighing in on the government’s request for Binance to disclose details about its top 100 users in the country amid a crackdown on the exchange. Opinions in the crypto community vary, with some supporting the government’s actions while others disagree.
In interviews with Cointelegraph, local crypto stakeholders shared their opinions about the situation. Crypto analyst Rume Ophi said that the government was well within its rights, as requests like this are always made when the government is trying to investigate national security matters.
However, Ophi’s opinion doesn’t sit well with that of other local crypto enthusiasts who took to X to express their disagreement. Chukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surprising and doubts Binance will comply.
However, Nigerian finance professional Olumide Adesina took to X to inform Binance users about the specified terms for disclosing such information via the company’s Government Law Enforcement Request System.
The Binance Government Law Enforcement Request System states that Binance may share user information with courts, law enforcement authorities, regulators, attorneys or other third parties to comply with laws and respond to law enforcement and regulatory requests, especially when compelled to by a subpoena, court order, search or seizure warrant."
Published by AMAKA NWAOKOCHA on Cointelegraph
#NigerianTraders #NigeriaNews #Nigerians #Nigerian
Nigerian cryptocurrency stakeholders are weighing in on the government’s request for Binance to disclose details about its top 100 users in the country amid a crackdown on the exchange. Opinions in the crypto community vary, with some supporting the government’s actions while others disagree.
In interviews with Cointelegraph, local crypto stakeholders shared their opinions about the situation. Crypto analyst Rume Ophi said that the government was well within its rights, as requests like this are always made when the government is trying to investigate national security matters.
However, Ophi’s opinion doesn’t sit well with that of other local crypto enthusiasts who took to X to express their disagreement. Chukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surprising and doubts Binance will comply.
However, Nigerian finance professional Olumide Adesina took to X to inform Binance users about the specified terms for disclosing such information via the company’s Government Law Enforcement Request System.
The Binance Government Law Enforcement Request System states that Binance may share user information with courts, law enforcement authorities, regulators, attorneys or other third parties to comply with laws and respond to law enforcement and regulatory requests, especially when compelled to by a subpoena, court order, search or seizure warrant."
Published by AMAKA NWAOKOCHA on Cointelegraph
#NigerianTraders #NigeriaNews #Nigerians #Nigerian
#Nigerian crypto tax move is ‘premature’ – local stakeholders
The Finance Act, 2023, which was signed into law on May 28 has been implemented, according to comments made by #ObinnaIwunna, president of the #Stakeholders in Blockchain Technology Association of Nigeria (#SIBAN ). Iwunna asserts that the law's hastily enacted nature will make its successful application difficult.
The act contains a number of #tax adjustments intended to update the nation's budgetary structure. A 10% tax on gains from the sale of digital assets, such as cryptocurrency, was one of its stipulations.
The Finance Act, 2023, which was signed into law on May 28 has been implemented, according to comments made by #ObinnaIwunna, president of the #Stakeholders in Blockchain Technology Association of Nigeria (#SIBAN ). Iwunna asserts that the law's hastily enacted nature will make its successful application difficult.
The act contains a number of #tax adjustments intended to update the nation's budgetary structure. A 10% tax on gains from the sale of digital assets, such as cryptocurrency, was one of its stipulations.
#Zhao announced the news on Twitter on Sunday, June 18. The #Nigerian Securities and Exchange Commission ( #SEC ) issued a circular on June 9 outlining Binance Nigeria Limited's illegality in the nation.
A spokeswoman for #Binance reportedly responded by stating that the organisation named in the circular is not connected to the business. The representative stated the company's intention to ask the Nigerian SEC for clarification and reaffirmed its dedication to working with it on the next steps.
A spokeswoman for #Binance reportedly responded by stating that the organisation named in the circular is not connected to the business. The representative stated the company's intention to ask the Nigerian SEC for clarification and reaffirmed its dedication to working with it on the next steps.
Trading on Binance: Exploring Alternatives for Nigerian Users Post P2P Function Disabling
In the wake of the disabling of the Peer-to-Peer (P2P) function for Nigerian users on Binance, many traders are left wondering about their options. However, with this feature now unavailable, Nigerian users may feel stranded and unsure of how to continue trading.
But fear not, Nigerian traders! There are still avenues available for you to engage in cryptocurrency trading on Binance, even without the P2P function. Here's how:
1. Switching to Other Supported Currencies:
While the Nigerian Naira (NGN) may no longer be available as a default currency for P2P trading on Binance, users can explore other supported currencies such as USD, EUR, or GBP. By switching to these currencies, Nigerian users can continue trading on the platform without the need for the P2P function.
2. Creating AirTM or Skrill Accounts:
For those looking to trade in USD, creating an AirTM or Skrill account can provide a solution. These platforms allow users to send, receive, and exchange currencies, making it convenient for Nigerian traders to receive payments for P2P trades in USD.
3. Exploring Other Foreign Accounts:
In addition to AirTM and Skrill, Nigerian users can also consider creating accounts on other foreign payment platforms that support cryptocurrency trading. Platforms such as PayPal, Payoneer, and others may offer solutions for receiving payments in foreign currencies.
While the disabling of the P2P function for Nigerian users on Binance may initially seem like a setback, it's important to remember that there are still alternatives available. By exploring different currencies and leveraging external payment platforms, Nigerian traders can continue to participate in the cryptocurrency market on Binance and beyond.
With determination and adaptability, Nigerian users can navigate this new landscape and continue to thrive in the world of cryptocurrency trading.
Read more on Miahzworld.com.ng
#TrendingTopic #BTC #NigeriaCrypto #Nigerian #p2p-market
In the wake of the disabling of the Peer-to-Peer (P2P) function for Nigerian users on Binance, many traders are left wondering about their options. However, with this feature now unavailable, Nigerian users may feel stranded and unsure of how to continue trading.
But fear not, Nigerian traders! There are still avenues available for you to engage in cryptocurrency trading on Binance, even without the P2P function. Here's how:
1. Switching to Other Supported Currencies:
While the Nigerian Naira (NGN) may no longer be available as a default currency for P2P trading on Binance, users can explore other supported currencies such as USD, EUR, or GBP. By switching to these currencies, Nigerian users can continue trading on the platform without the need for the P2P function.
2. Creating AirTM or Skrill Accounts:
For those looking to trade in USD, creating an AirTM or Skrill account can provide a solution. These platforms allow users to send, receive, and exchange currencies, making it convenient for Nigerian traders to receive payments for P2P trades in USD.
3. Exploring Other Foreign Accounts:
In addition to AirTM and Skrill, Nigerian users can also consider creating accounts on other foreign payment platforms that support cryptocurrency trading. Platforms such as PayPal, Payoneer, and others may offer solutions for receiving payments in foreign currencies.
While the disabling of the P2P function for Nigerian users on Binance may initially seem like a setback, it's important to remember that there are still alternatives available. By exploring different currencies and leveraging external payment platforms, Nigerian traders can continue to participate in the cryptocurrency market on Binance and beyond.
With determination and adaptability, Nigerian users can navigate this new landscape and continue to thrive in the world of cryptocurrency trading.
Read more on Miahzworld.com.ng
#TrendingTopic #BTC #NigeriaCrypto #Nigerian #p2p-market
