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 DECEMBER 15TH (NEWSRANGERS)-Shema is multi-millionaire oil mogul. His mother was recently kidnapped. The kidnappers demanded for 100 million Naira as ransom. After tough negotiations, 20 million naira was agreed upon as ransom. The kidnappers also gave condition that the ransom should be mint; new notes. The millionaire approach CBN. He got new money to…