Coverage of Nigeria’s crypto policy, P2P markets, fintech innovation, and Web3 entrepreneurship.
Stakeholders warn that the continued detention of Binance executives in Nigeria could cause reputational damage for the country.
Oluwapelumi Adejumo 2 min read 
The IMF contends that through proper regulation and licensing, cryptocurrencies can provide Nigeria with tools for more secure and efficient transaction processes.
The government said Binance should respect the legal process instead of engaging in public relations maneuvers.
Binance CEO Richard Teng calls for the release of Tigran Gambaryan, a detained U.S. executive in Nigeria, denouncing the action as a dangerous new precedent and revealing bribe demands by Nigerian officials.
The Nigerian government have stepped up efforts to curb foreign exchange manipulation with the removal of Naira from P2P platforms.
The NSA's classification is expected to pave the way for new regulations banning P2P crypto trading, with an official announcement anticipated soon.
Nigeria CBN circular warned that traders "buying and selling USDT illegally" would be arrested.
Binance's legal battle in Nigeria has faced significant challenges, with the cout postponing proceedings twice.
Gambaryan argued that he shouldn't be held responsible for Binance's actions.
