When Tigran Gambaryan was first invited in February to meet with the Nigerian government in order to settle a dispute with his employer, the cryptocurrency exchange Binance, Nigerian officials detained him against his will, stripped him of his passport, and told him he was a “guest” of the state. He’s since been charged with financial
ABUJA, Nigeria (AP) — The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country. The bank said in a statement late Thursday that the bulk of the loan — $1.5
The International Air Transport Association on Tuesday urged Pakistan and Bangladesh to remove barriers to airlines repatriating ticket revenues after Nigeria released the vast majority of blocked funds. Pakistan and Bangladesh collectively owe $731 million out of a global total of $1.8 billion in blocked airline funds, according to the world trade body. Several countries
Observers backed Adesina’s view, noting that while these loans offer developing countries the funding they need, they can be expensive and subject to commodity price fluctuations, making repayment difficult. 01:25 China-funded infrastructure across Africa force difficult decisions for its leaders China-funded infrastructure across Africa force difficult decisions for its leaders Known as the “Angola model”,
The Chief Executive Officer of one of the leading cryptocurrency platforms in Nigeria, NoOnes, Ray Youssef, has revealed that peer-to-peer popularly known as P2P is probably like $500bn business in Nigeria alone. Youssef said this in an interview with Techpoint Africa on the heels of an imminent ban on cryptocurrency in the country. Speaking on
NAIROBI, Kenya (AP) — When Ademola Adesina founded a startup to provide solar and battery-based power subscription packages to individuals and businesses in Nigeria in 2015, it was a lot harder to raise money than it is today. Climate tech was new in Africa, the continent was a fledgling destination for venture capital money, there