Nigeria

Nigeria launched a legal battle against the world’s largest cryptocurrency exchange Binance (CRYPTO: BNB) on Wednesday, demanding $81.5 billion in compensation for purported economic damages and unpaid taxes. What Happened: Nigerian authorities are blaming Binance for the country’s...

President Joe Biden praised Nigerian President Bola Tinubu‘s leadership for his instrumental role in ensuring the release of Binance (CRYPTO: BNB) executive Tigran Gambaryan. What Happened: President Biden had a call with President Tinubu on Tuesday, according to a statement from the...

The Nigerian government has officially withdrawn all money laundering charges against Binance executive Tigran Gambaryan, who had been held in detention since April. What Happened: The decision was revealed by a lawyer representing the Economic and Financial Crimes Commission (EFCC) during a...

A Nigerian court has postponed a decision on the bail application for Tigran Gambaryan, Binance's head of financial compliance, whose health has been steadily worsening since his imprisonment earlier this year. The next bail hearing is now scheduled for Oct. 9, CoinDesk reported Wednesday....

The health of Tigran Gambaryan, a Binance (CRYPTO: BNB) executive currently held in a Nigerian prison, is reportedly deteriorating rapidly, leading to his family’s urgent call for release. What Happened: As per a report by The Block, Gambaryan, a U.S. citizen, has been suffering from a...

Galaxy Digital CEO Mike Novogratz advocated for Bitcoin (CRYPTO: BTC) as a potential solution to Nigeria’s economic woes as the country grappled with record-high inflation. What Happened: Novogratz voiced his concerns about the economic crisis in Nigeria on Sunday, highlighting the importance...

TotalEnergies SE (NYSE:TTE), along with the Nigerian National Petroleum Corporation Ltd (NNPCL), is set to develop the Ubeta gas field in Nigeria. TotalEnergies is the OML 58 onshore license operator in Nigeria with a 40% interest. NNPCL holds a 60% stake. The OML 58 license project is situated...

As many as 108 former federal prosecutors and agents have called upon U.S. Secretary of State Antony Blinken to escalate efforts to free Tigran Gambaryan, the head of compliance at Binance (CRYPTO: BNB), from a Nigerian prison. What Happened: The public letter was spearheaded by investor and...

Exxon Mobil Corporation (NYSE:XOM) is renewing a 33-year-old lease on its expansive offices in Lagos’s upscale Lekki district. The lease was set to expire on Friday. The move comes after it plans to scale down operations in Nigeria, reported Reuters. Exxon is relocating staff from its 12-...

Microsoft Corp (NASDAQ:MSFT) has decided to close its engineering center in Nigeria, citing economic challenges as the primary reason. What Happened: Microsoft has announced the closure of its engineering center in Lagos, Nigeria, which was inaugurated in 2022, Bloomberg reported on Wednesday. The...

Binance CEO Richard Teng on Tuesday called for the release of Tigran Gambaryan, head of the Financial Crime Compliance team at the crypto exchange, who has been detained in Nigeria since February. What Happened: Teng’s demand highlights escalating tensions between the Nigerian government and...

Nigeria has taken a significant step to revitalize its mining sector by revoking over 900 dormant mining titles. What Happened: A sweeping measure will target titles that have remained inactive for extended periods. The aim is to curb illicit practices and attract new investors to Nigeria’s...

In a recent development, Nadeem Anjarwalla, a high-ranking executive at Binance who had previously absconded from Nigerian custody, has been located in Kenya. Local media reports suggest that he is now facing extradition. What Happened: Anjarwalla, an executive at Binance, was found in Kenya by...

CNBC reporter MacKenzie Sigalos highlighted serious tax evasion allegations against cryptocurrency exchange Binance. What Happened: During CNBC’s “Last Call” on Monday, Sigalos mentioned that Binance is facing multiple lawsuits in Nigeria and the U.S., and the recent escapade of a...

Nadeem Anjarwalla, a senior Binance executive, reportedly fled Nigeria amid charges of tax evasion among other allegations. What Happened: Anjarwalla, who holds dual British and Kenyan citizenship, reportedly made his escape under the guise of attending prayer services, capitalizing on the...