Nigerian drug enforcement agency officers report that Nigeria, once merely a transit point for methamphetamine, is now a producer, thanks to secret laboratories left behind by South American cartels. The agents state that the meth being produced in Nigeria is among the most sought after worldwide. Authorities are intensifying their efforts to crack down on meth traffickers and users.
Friday, June 27, 2025
Video - Nigeria tackles methamphetamine crisis
Nigerian drug enforcement agency officers report that Nigeria, once merely a transit point for methamphetamine, is now a producer, thanks to secret laboratories left behind by South American cartels. The agents state that the meth being produced in Nigeria is among the most sought after worldwide. Authorities are intensifying their efforts to crack down on meth traffickers and users.
Nigeria’s first stablecoin summit to offer $10,000 to startups, undergraduates
Nigeria’s first stablecoin summit scheduled to hold in Lagos is expected to offer outstanding startups and undergraduates grants up to $10,000 in what would promote business development and innovation, organisers say.
The conference, billed for Thursday, July 24, 2025, is set to bring together policymakers, stablecoin innovators, and various stakeholders to discuss the future of borderless digital payments on the continent.
“Startups attending the event would have the opportunity to participate in a pitch competition, where winners would receive up to $10,000 in cash and other prizes,” the organisers said in a statement.
“Undergraduates with an interest in the tech and digital finance ecosystem are invited to submit their write-ups for an Essay Competition, which would award 1st, 2nd, and 3rd place to the best entries.”
Nigeria boasts one of the largest tech talent pools in Africa. During the conference, policymakers, stablecoin issuers, exchanges, payment gateways, regulators, developers, and ecosystem enablers are all expected to engage in open dialogues to develop frameworks that reflect current realities.
Nathaniel Luz, president of the Africa Stablecoin Network and convener of the Nigeria Stablecoin Summit, stated that there is a need for coordinated efforts and collaborations between the government and fintechs to unlock the full potential of stablecoins in Nigeria.
He added that policymakers and stablecoin innovators would need to engage in open dialogue to develop frameworks that reflect current realities.
Luz explained that the summit’s theme, “Enhancing Adoption for a Borderless Digital Economy,” speaks to Nigeria’s need for a more integrated and seamless borderless payment ecosystem.
He emphasized that the industry needs interoperable payment systems and reliable on- and off-ramps that connect everyday commerce with stablecoins, stressing that collaborations between the government and fintechs would strengthen trust, scale solutions, and help build a sustainable ecosystem that solves real-world problems.
He further said that Nigeria’s digital finance economy is ripe for growth and expansion with room for more adoption, but these crucial “gateway discussions” have not yet taken place. He therefore urged all stakeholders in the Nigerian digital finance ecosystem to attend the Nigeria Stablecoin Summit, organised by the Africa Stablecoin Network.
Luz described the gathering as a very special and pivotal moment that would shape the future of payments in Nigeria and beyond. He asserted that while stablecoins might be a luxury for the West, they are an economic lifeline for Africa.
The conference, billed for Thursday, July 24, 2025, is set to bring together policymakers, stablecoin innovators, and various stakeholders to discuss the future of borderless digital payments on the continent.
“Startups attending the event would have the opportunity to participate in a pitch competition, where winners would receive up to $10,000 in cash and other prizes,” the organisers said in a statement.
“Undergraduates with an interest in the tech and digital finance ecosystem are invited to submit their write-ups for an Essay Competition, which would award 1st, 2nd, and 3rd place to the best entries.”
Nigeria boasts one of the largest tech talent pools in Africa. During the conference, policymakers, stablecoin issuers, exchanges, payment gateways, regulators, developers, and ecosystem enablers are all expected to engage in open dialogues to develop frameworks that reflect current realities.
Nathaniel Luz, president of the Africa Stablecoin Network and convener of the Nigeria Stablecoin Summit, stated that there is a need for coordinated efforts and collaborations between the government and fintechs to unlock the full potential of stablecoins in Nigeria.
He added that policymakers and stablecoin innovators would need to engage in open dialogue to develop frameworks that reflect current realities.
Luz explained that the summit’s theme, “Enhancing Adoption for a Borderless Digital Economy,” speaks to Nigeria’s need for a more integrated and seamless borderless payment ecosystem.
He emphasized that the industry needs interoperable payment systems and reliable on- and off-ramps that connect everyday commerce with stablecoins, stressing that collaborations between the government and fintechs would strengthen trust, scale solutions, and help build a sustainable ecosystem that solves real-world problems.
He further said that Nigeria’s digital finance economy is ripe for growth and expansion with room for more adoption, but these crucial “gateway discussions” have not yet taken place. He therefore urged all stakeholders in the Nigerian digital finance ecosystem to attend the Nigeria Stablecoin Summit, organised by the Africa Stablecoin Network.
Luz described the gathering as a very special and pivotal moment that would shape the future of payments in Nigeria and beyond. He asserted that while stablecoins might be a luxury for the West, they are an economic lifeline for Africa.
Thursday, June 26, 2025
Video - UN report issues a food insecurity warning for Nigeria
A new UN report labeled Nigeria as one of five African hunger hotspots where food insecurity is predicted to worsen through October. This situation has been attributed to insecurity and weak land rights, both of which hinder food production.
Wednesday, June 25, 2025
Video - Nigeria rushes to evacuate citizens from Israel, Iran
With airstrikes targeting major cities and airports closed, hundreds of Nigerians remain stranded in high-risk areas, causing growing concern among families at home. Evacuation plans are underway, with Nigerian embassies in both capitals coordinating efforts with international partners.
Tuesday, June 24, 2025
Nigerian man handed 76-year sentence in sextortion of B.C. boy
RCMP have said that the boy’s sudden death in 2023 came after he fell victim to “financial sextortion.”
Nigeria’s Economic and Financial Crimes Commission says in social media posts that Olukeye Adedayo faced 18 charges, including possession and distribution of child pornography, attempted extortion by threats and money laundering.
It says Adedayo set up an Instagram account using the boy’s name to distribute the images, which the RCMP said the 14-year-old thought he sent to a teenage girl in an online interaction that was over within minutes.
The Nigerian agency says Adedayo pleaded not guilty to all counts but a judge convicted him of all charges and sentenced him last Thursday.
However, the agency said the 18 sentences are to run concurrently, suggesting the longest sentence he’ll serve is seven years for each of four counts of obtaining property under false pretences.
The commission says the prosecution witnesses included a sergeant with the RCMP Serious Crime Unit.
Related story: FBI nabs Nigerian over teen sextortion, gets five years
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