Nigeria is reportedly eager to combat online extortion scams following a crackdown by Meta. The country’s Economic and Financial Crimes Commission is willing to work with global law enforcement to stop suspects based in Nigeria, a spokesperson for the watchdog said, per a Financial Times report...
A Nigerian regulator has fined Meta $220 million, saying the privacy policy of the company’s WhatsApp violated the country’s data and privacy laws. The Federal Competition and Consumer Protection Commission (FCCPC) said in a Friday (July 19) press release that the company violated the Federal...
Twelve members of Congress are calling on the Biden Administration to work to free Binance executive Tigran Gambaryan from detention in Nigeria, saying he is being wrongfully detained and may have contracted malaria. The lawmakers made this request in a Tuesday (June 4) letter addressed...
American Express is rolling out a business credit card in Nigeria, its first such product in the country. The card offers business owners a spending limit of $10,000 and a repayment period of up to 45 days for international transactions, and comes as a result of...
November 20, 2023
Compared to the global standard of five to six hubs, moving money between Nigeria and China or Singapore can require navigating through up to 16 hubs before the payment reaches the last mile, said Jess Anuna, founder and CEO of Klasha, a global cross-border payments company. This example illustrates the persistently sluggish, costly and fragmented […]
July 06, 2023
In 2019, Meta CEO Mark Zuckerberg said it was time to simplify money movement and make sending money to someone as easy as sending a photo. However, what that statement,...
June 01, 2023
Each country implementing real-time payment methods has to balance various factors, including its banked population, the current favored payment schemes of the populace and penetration of digital payment methods, among...
November 10, 2022
Card payments, as ubiquitous as they may appear, are actually not the preferred payment method in certain markets. Take the case of Nigeria, for example. According to Lagos FinTech firm...
September 02, 2024
A federal court has fined Nigerian businessman Dozy Mmobuosi $250 million following a fraud investigation. The court order — issued last week and the subject of a report Sunday (Sept. 1) by the Financial Times (FT) — also bars Mmobuosi from serving as a director of a public company. The ruling follows charges last year […]
August 26, 2024
Nigeria is reportedly eager to combat online extortion scams following a crackdown by Meta. The country’s Economic and Financial Crimes Commission is willing to work with global law enforcement to...
July 19, 2024
A Nigerian regulator has fined Meta $220 million, saying the privacy policy of the company’s WhatsApp violated the country’s data and privacy laws. The Federal Competition and Consumer Protection Commission...
June 05, 2024
Twelve members of Congress are calling on the Biden Administration to work to free Binance executive Tigran Gambaryan from detention in Nigeria, saying he is being wrongfully detained and may...
