Nigeria

Nigerian crypto scam entity Argo Coin has vanished with its customers’ funds

The crypto scam entity lured investors by falsely claiming to invest their money in Bitcoin mining equipment, promising exorbitant returns.

Vella Finance shuts down crypto operations to focus on SME banking

The fintech company decided to focus solely on banking services for small businesses, which constrains it from offering crypto services.

DLM Trust terminates escrow trustee agreement with Patricia, citing breach of terms

Patricia had announced that DLM Trust had entered a partnership with it, a claim the company has refuted.

Nigeria is expecting $10 billion forex liquidity ‘within weeks,’ finance minister says

The naira has been on a free fall due to foreign exchange shortfalls. The government is looking to fill the gap with the expected inflow.

Blockchain gaming sees $2.3 billion in investment

However, this figure represents a 30% decrease from the $3.3 billion raised in 2022.

Nigeria in talks for $1.5 billion World Bank loan — Finance minister

The finance minister expects the loan deal to be finalized soon.

South Africa on track to overtake Nigeria as Africa’s largest economy in 2024 — IMF

Tough economic measures have seen Nigeria’s economy shrink in the short term, but growth is foreseeable in the medium term.