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, the report said. 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…

Nigeria’s central bank took a vital step toward restoring confidence in the battered naira by aggressively raising interest rates and pledging to dig the country out of its present “mess.” Announcing a much-bigger-than-expected 400 basis point rate increase to 22.75%, Governor Olayemi Cardoso said that the central bank was not responsible for the nation’s woes, but was working hard to put things right. “We are part of the solution,” he told a media briefing in Abuja, the capital, on Tuesday after the monetary policy committee held its first gathering since July. “We are determined to ensure that we work hard…

Nigeria Labour Congress (NLC) has suspended its two-day nationwide protest. The NLC had declared a two-day nationwide mass protest for February 27 and 28, over the economic hardship confronting millions of Nigerians since the removal of the petrol subsidy in May 2023. The NLC and Trade Union Congress of Nigeria (TUC), had on February 8, given a 14-day ultimatum to the federal government over the rising cost of living in the country. A late night meeting on Monday between the federal government and NLC was not enough to convince the latter to shelve the nationwide protests. On Tuesday morning, the…

PRESS RELEASE Hallmark University, Ijebu-Itele, Ogun State will be holding its maiden convocation ceremony on the 29th of February, 2024 at the University main auditorium. According to the University Registrar, Afolabi Ajayi, "the former Vice-Chancellor of Olabisi Onabajo University, Ago-Iwoye, Professor Wale Olaitan, will be the special guest at the occasion." The Convocation Lecture holds 11am on Wednesday February 28, 2024. He stated further that: "Graduating students, their parents and guests must be seated by 9.30am at the University Auditorium and must remain seated until the end of the ceremony." Parts of the programmes marking the occasion include lectures, exhibitions,…