FBI: Crypto Investment Fraud Climbed, 183% to $2.57 Billion In 2022.
The 2022 Internet Crime Report published by the Federal Bureau of Investigation (FBI) last week, noted that the report is compiled using data from the agency’s Internet Crime Complaint Center (IC3) which “serves as a public resource to submit reports…
Naira Scarcity : Nigerians Adopt Fintech Virtual Bank As Commercial Banks Apps, USSD Breakdown.
As the end of the Naira scarcity is nowhere in sight and following the breakdown of commercial banks mobile apps and USSD codes, Nigerians are switching to virtual fintech banks which provide swift transactions. Virtual banks like Opay Palmplay ,…
Binance P2P MarketPlace Will Now Support More New African Currencies Without Third Parties.
Crypto Exchange platform Binance has announced that its peer-to-peer (P2P) marketplace will now support more African currencies, including Liberian dollar (LRD), Sierra Leonean leone (SLL), Gambian dalasi (GMD), Mauritanian ouguiya (MRO), and Cape Verdean escudo (CVE). Users in these regions…
eNaira CBDC: Central Bank of Nigeria Introduces Voucher And USSD Features.
The Central Bank of Nigeria (CBN) has announced the development of eNaira enhanced services to address challenges faced by unbanked Nigerians. The initiative enables customers to use the unstructured supplementary service data (USSD) code *997*50# to carry out all banking…
Central Bank Plans To Add More Telecom Network On eNaira Digital Currency Platform.
The Central Bank of Nigeria (CBN) has announced that it is working to include other telcos on the Central Bank Digital Currency (CBDC) eNaira platform to widen its adoption and acceptance nationwide. Currently, eNaira transactions are only enabled on MTN…
Nigeria Loses $706,452 To Cyber Ransomes: Survey.
A recent survey report carried out by a global cyber security firm Sophos shows that a total of $706,452 has been paid in ransom to cybercriminals by Nigerian businesses. According to Sophos, in The State of Ransomware 2022 report, Industrial…
Zambia Is Set To Regulate And Open To Use Crypto Technologies.
The central bank of Zambia and the country’s Securities and Exchange Commission SEC said that they are in the process of checking out technology to regulate cryptocurrencies, the country’s minister of Technology and Science, Felix Mutati, has said. According to…
Kenya Moves To Legalise Crypto.
Kenya’s Senators move to legalise various virtual monies, such as cryptocurrencies, received a major boost after the Senate resolved to develop frameworks for their operation in the country. The Senate Standing Committee on Information, Communication and Technology on Thursday, February…
Binance Stablecoin, BUSD Faces Scrutiny In The US.
Paxos Trust Company, the firm behind Binance’s stablecoin, said the U.S. Securities and Exchange Commission (SEC) has told the company it should have registered the product as a security and is considering taking action against the platform, as New York…
South Africa’s Net Foreign Reserves Hits $54.844 Billion, As The Nation’s Currency Rand Appreciates Against Dollar.
South Africa’s net foreign reserves rose to $54.844 billion in January from $53.827 billion in December, the Reserve Bank said on Tuesday. Gross reserves also increased to $61.864 billion in January from $60.570 billion in December. The forward position, which…