LAGOS FEBRUARY 10TH (NEWSRANGERS)-Following the Central Bank of Nigeria’s letter prohibiting banks from dealing in cryptocurrencies and closing down of suspected bank accounts, the Digital rights Lawyers Initiative (DRLI) has approached the Federal High Court challenging the said ban. In Suit No. FHC/L/CS/ 188/2021, DRLI sued the Central Bank of Nigeria and Securities and Exchange…
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 JANUARY 27TH (NEWSRANGERS)-The crypto market just lost about $70 billion, as significant selling pressure from crypto sellers pushed the value of cryptocurrencies lower across the market spectrum amid the rising U.S dollar and some profit-taking. The global crypto market value is $930.47 billion, a 5.61% decrease over the last day. The U.S dollar was…
LAGOS JULY 24TH (NEWSRANGERS)-As the blockchain industry grows and matures over time, the demand for human resources increases. Yet, there is a gap in the amount of qualified personnel capable of doing the job and the number of open positions. Furthermore, the industry has to compete with web development, cloud computing, and neural networks for…
LAGOS APRIL 4TH (NEWSRANGERS)-Nigeria – one of the largest nation across the African continent – has reportedly authorized the arrival of the first Bitcoin ATM to the region. Specifically, Blockstale BTM – the firm that was in charge of finalizing the installing process of the ATM located in the Dazey Lounge and Bar in Lagos…
LAGOS FEBRUARY 4TH (NEWSRANGERS)-In a case reminiscent of the MMM saga, Canada’s leading cryptocurrency exchange company has said it cannot immediately repay customers’ $190m because its founder died with their passwords. According to the Sky News, founder of QuadrigaCX, 30-year-old Gerald Cotten, died of alleged complications with Crohn’s disease during a trip to India where…
LAGOS NOVEMBER 25TH (NEWSRANGERS)-Ahead of Nigeria’s general elections in February 2019, Atiku Abubakar, the presidential candidate of the People’s Democratic Party (PDP)- the country’s largest opposition party – has included the creation of a “comprehensive blockchain and digital currency policy” in his policy document. The move comes as a significant surprise as the country’s regulatory…