BREAKING: CBEX Ponzi investment platform collapses, leaving investors $12 million poorer
CBEX froze user accounts without warning, leading to protests in Ibadan and Lagos. Initial reports indicated investors lost up to ₦1.3 trillion, but independent analyses estimated losses between $6.1 million and $12 million.
“If you’re not registered with SEC, you’re illegal,” Nigerian govt to fintechs
The SEC has charged all fintechs and cryptocurrency firms to register with the commission. President Bola Tinubu has signed the Investments and Securities Act 2024 into law, making its provisions enforceable.
Nigeria Moves to Tax Cryptocurrency Transactions
Nigeria is amending regulations to tax cryptocurrency trading and digitized transactions. The SEC is drafting new rules to ensure transactions on regulated exchanges are taxed.
Nigeria Partners with Google to Drive AI Innovation and Digital Growth
Nigeria is collaborating with Google to advance AI and digital innovation. The partnership will focus on expanding scalable cloud infrastructure.
