LAGOS FEBRUARY 8TH (NEWSRANGERS)-Having survived the murky waters of politics in Nigeria, where her mother was kidnapped to send her a message, and rising to number two at the World Bank, Ngozi Okonjo-Iweala should have no trouble dealing with international trade negotiators in her new job at the World Trade Organisation (WTO). The 66-year-old will…
LAGOS FEBRUARY 8TH (NEWSRANGERS)-The South African Revenue Service (SARS) is reportedly sending taxpayers audit requests, asking those who have held cryptocurrencies to disclose their trading activity. SARS has sent the requests to a number of taxpayers who, in turn, contacted professional tax services firm Tax Consulting South Africa, reported local IT news site MyBroadband on…
LAGOS FEBRUARY 8TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) issued a five-page statement Sunday clarifying its position on cryptocurrencies after a regulatory warning to local banking institutions on Friday sent shockwaves through social media. In Sunday’s statement, the CBN said Friday’s letter was only a reminder that cryptocurrencies were not legal tender in Nigeria, and…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-The Nigeria Customs Service (NCS) has handed over 4,907 cartons of seized expired sweets and chocolates valued at N23.7 million to National Agency for Food and Drug Administration and Control (NAFDAC). The Commander of Comptroller-General of Customs’ Strike Force, Mr Hussein Ejibunu disclosed this while handing over the items to NAFDAC officials…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-Former Vice President Atiku Abubakar has advised the Federal Government to have a rethink on its directive on cryptocurrency transactions in the country. This advice, which was contained in a statement on Saturday, was in reaction to the directive of the Central Bank of Nigeria (CBN) to banks and other financial institutions…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-Finance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. The CBN letter told local banking institutions that dealing in cryptocurrencies…
LAGOS FEBRUARY 5TH (NEWSRANGERS)-The Central Bank of Nigeria on February 5, 2021, released a statement signed by the Director of Banking Supervision Bello Hassan and the Director of Payments System Management Department Musa I. Jomoh, prohibiting financial institutions in Nigeria from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchange. Meaning all trading of cryptocurrency…
LAGOS FEBRUARY 5TH (NEWSRANGERS)-Nigeria’s Ngozi Okonjo-Iweala is a step closer to becoming the first African and first woman to lead the World Trade Organization, after a South Korean rival withdrew on Friday following months of uncertainty over the body’s leadership. Okonjo-Iweala faced opposition from the U.S. administration of former President Donald Trump after a WTO…