Nigeria detains Binance executives in cryptocurrency crackdown

Two senior executives at Binance have been detained in Nigeria as the country cracks down on cryptocurrency exchanges, the Financial Times reported on Wednesday, citing people familiar with the matter.

The executives flew to Nigeria following the country's decision to ban several cryptocurrency trading websites last week but they were detained by the office of the country's national security adviser and their passports seized.

Binance did not immediately respond to a Reuters request for comment.

The crackdown follows a period after several cryptocurrency websites emerged as platforms of choice for trading the Nigerian currency, which has suffered chronic dollar shortages.

The naira's official exchange rate has been trading at levels close to the parallel market level after the currency was devalued last month, its second adjustment in less than a year.

Africa's largest economy has been experiencing crippling dollar shortages that have pushed its currency to record lows after foreign investors fled following a previous oil price collapse and introduction of capital controls in 2015.

Reuters

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Video - Nigeria bans exports of locally produced LNG to boost supply

The country's petroleum ministry says the ban will increase the amount of cooking gas for the domestic market, which will automatically reduce the price of the product.

CGTN

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Video - Nigeria plans to streamline bureaucracy to reduce costs

The move follows recommendations from a 2012 report that suggested the elimination or merger of some 220 of more than 500 government agencies.

CGTN

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Video - Nigeria inflation hits high of 29.9%

Inflation in Nigeria soared to 29.9 percent in January, the highest mark in nearly 30 years. Food costs, which rose at an average rate of 35.4 percent in the same month, are the main driver of the rising cost of living.

CGTN

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Nigeria unveils big rate hike as hardship prompts worker protests

 

 

Argentina Vs. Nigeria Friendly Match Cancelled

Next month’s international friendly match between Nigeria’s Super Eagles and world champions Argentina has been called off.

No official statement has been made by the Nigeria Football Federation (NFF) over the cancellation of the high-profile friendly game slated for March 26, 2024, in Los Angeles, USA.

According to BBC Sport reporter, Oluwashina Okeleji, the cancellation was a result of the short time to process visas for the Nigerian delegation.

Okeleji stated that the US organisers of the game have already drafted in Costa Rica as replacement for the Eagles.

The friendly game between the Eagles and Argentina was initially scheduled to hold in China but was cancelled.

The game was cancelled after Lionel Messi failed to appear in a friendly game between Inter Miami and an Hong Kong Selected XI.

He received a lot of backlash from fans who had to be refunded by the organisers of the game.

The former Barcelona captain explained that he sustained an injury, hence his absence from the game.

Leadership

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