Nigeria’s SEC grants provisional crypto licences to Quidax and Busha
Nigeria's SEC has granted provisional licenses to Quidax and Busha, two digital asset exchanges. The licenses are part of the SEC's Accelerated Regulatory Incubation Program (ARIP).
Exclusive: Flutterwave loses ₦11 billion in security breach
Flutterwave suffered a security breach in which billions of naira were diverted to multiple bank accounts. This is the fourth incident of unauthorized transfers at Flutterwave in the last 14 months.
GTCO targets $750 million capital raise on NGX and London Stock Exchange
GTCO plans to raise $750 million by listing additional shares on the Nigerian and London Stock Exchange. The share sale will help the bank meet a new working capital requirement of ₦500 billion.
Exclusive: P2P crypto ban imminent as Nigeria calls crypto a national security issue
Moniepoint, Paga, and Palmpay will block cryptocurrency transactions and report them to law enforcement. A new regulation to ban peer-to-peer trading of cryptocurrencies is in the works.
Stanbic IBTC will seek shareholders’ approval to raise ₦550bn
Stanbic IBTC Holdings plans to raise ₦550 billion through the sale of bonds and a rights issue. The banking subsidiary of Stanbic IBTC Holdings, a Tier 2 bank with a capital requirement of ₦200 billion, aims to issue debt securities worth ₦400 billion and an additional ₦150 billion through a rights
