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Crypto Exchanges Stop Selling USDT/USDC In Naira

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A handful of crypto companies in Nigeria will no longer allow users to buy the USDT and USDC stablecoins with Naira after renewed scrutiny from the Central Bank of Nigeria (CBN).

“There was a meeting of crypto founders on Tuesday morning, and a number of them agreed to suspend the trades on their platform,” a person at that meeting told TechCabal. A second crypto industry player confirmed the meeting but declined to share details.

At least two crypto exchanges have told their Nigerian customers about the new development.

“We are suspending the buying and selling of USDT and USDC for Naira. This means you can’t buy or sell USDT or USDC with Naira,” said a notification sent by one exchange to customers.

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Binance and other exchanges have found themselves in regulatory crosshairs as regulators believe that crypto platforms encourage speculators to manipulate exchange rates. This week, users could not access the websites of crypto exchanges like Coinbase, Quidax, and Binance.

Increased volatility in Nigeria’s FX markets has triggered several policy actions, and on Tuesday afternoon, Olayemi Cardoso, the Central Bank governor, claimed “$26 billion has passed through Binance Nigeria from sources and users we cannot identify.”

An autonomous group, the Digital Currency Coalition, also claimed in a presentation seen by TechCabal that speculative trading on the Binance peer to peer offering significantly contributed to the “113.1% devaluation of the naira against USDT” since February 2023. It is unclear how the Coalition arrived at its numbers.

Unconfirmed reports claimed two executives at a crypto company were arrested on Tuesday in a move to force the company to share its KYC data.

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Zakari Mijinyawa, a special adviser to Nigeria’s National Security Adviser, Malam Nuhu Ribadu, said he was unaware of any arrests and suggested that law enforcement agencies may have done them.

Crypto exchanges are treading cautiously, three people who work in the industry told TechCabal.

“The office asked us not to wear Binance t-shirts and caps and to not attend Binance-related events for now,” a Binance employee who asked not to be named told TechCabal, describing uncertainty and fear similar to last year when the Securities Exchange Commission announced that Binance was operating illegally in the country.

At least five leading leaders in the crypto space declined to comment on this story, citing regulatory fears.

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“It is exactly as it was during the EndSARS protests in 2020,” an early-stage crypto investor in the country told TechCabal, adding that he has received warnings from peers to avoid attracting attention from law enforcement.

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Hon Nnamchi Grants 500 Youths Scholarships To Universities

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Five hundred youths drawn from various communities in Enugu East/Isi Uzo Federal Constituency of Enugu State have benefited from Hon. Professor Paul Sunday Nnamchi’s scholarship scheme.

The scholarship scheme was instituted by the Federal lawmaker who represents Enugu East/Isi Uzo Federal Constituency in the House of Representatives to cater for indigent constituents in the constituency.

The beneficiaries who are currently on admission in various universities across the country are pursuing the following disciplines; microbiology, biochemistry, human physiology, and human anatomy.

Others are studying mass Communication, Business Education, Education Chemistry, Industrial Chemistry Computer Science and Civil Engineering among others.

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Their school fees amounting to millions of naira have already been paid by Professor Nnamchi for the current academic session not withstanding the challenges some of them had encountered in their performances.

The scholarship scheme was in fulfillment of Rep Nnamchi’s campaign promises of empowering of the youths of Enugu East/Isi Uzo Federal Constituency.

The scholarship according to him was to help those desiring to study at the tertiary levels but lacked the wherewithal to further their education after secondary schools.

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Trump’s declasification of JFK, MLK assassination files opens window into US most shocking crimes

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By Kayode Sanni-Arewa

A trove of long-classified government documents concerning some of the most politically charged killings in modern American history — including the assassination of former President John F. Kennedy — could finally be made available to the public.

But that’s just the start of the latest saga surrounding the killings, which have sparked fascination, conspiracy theories, and history-changing debate for decades.

President Donald Trump signed an executive order Thursday aimed at declassifying government documents related to the assassinations of former President John F. Kennedy, his brother and presidential candidate Robert F. Kennedy, and civil rights icon Martin Luther King Jr. The order essentially requires the nation’s security organizations to create plans to release the records.

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The full findings of the government investigations into the three killings have been hidden for decades, sparking wide-ranging speculation and preventing a sense of closure for many Americans. All three men were national and international icons whose assassinations — and the theories swirling around them — became the stuff of books, movies, controversy, and the pages of history itself.

“A lot of people were waiting for this . . . for years, for decades,” said Trump in signing the release of the documents. “Everything will be revealed.”

JFK assassination, Nov. 22, 1963
The shock of President John F. Kennedy’s assassination in 1963 still echoes more than half a century later.

Kennedy, known for both his glamour and steering the country through the closest it ever came to nuclear war, was assassinated in Dallas, Texas. He was shot and killed as his presidential motorcade brought him along a downtown city street and as he waved to adoring bystanders from the open-roofed car.

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Police arrested Lee Harvey Oswald less than an hour later. But Oswald himself was killed on live TV just two days later as police were transferring him to a county jail.

Oswald’s killer, Jack Ruby, acted alone on an impulse, the President’s Commission on the Assassination of President Kennedy, known as the Warren Commission, concluded. The commission ruled that Oswald also acted alone.

The JFK assassination sent the nation into mourning and shook it to its core, as Americans searched for answers. Hundreds of books have been written and documentaries produced, with bits and pieces of information emerging to this day.

Many regard the commission’s work as a government-orchestrated coverup and doubts have been raised over who killed John F. Kennedy have persisted. Conspiracy theorists lay the blame on everyone from Cuba – at the heart of the nuclear missile crisis – to the CIA itself.

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The wide-ranging theories over Kennedy’s death – how many shooters were involved, how many bullets – became so ingrained in popular culture that they made it onto the comedy series Seinfeld.

MLK assassinated in Memphis, April 4, 1968
King, whose work furthering the Civil Rights Movement is honored with a federal holiday, was killed on the balcony outside his motel room in Memphis, Tennessee.

The Atlanta preacher was visiting the city to march alongside striking workers. On the evening of the assassination, he was preparing to leave for dinner at the home of a local minister.

He stepped outside to speak with colleagues in the parking lot below and was shot in the face by an assassin. James Earl Ray, a 40-year-old escaped fugitive, later confessed to the crime and was sentenced to a 99-year prison term.

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But Ray later tried to withdraw his confession and said he was set up by a man named Raoul. He maintained until his death in 1998 that he did not kill King.

A Memphis tavern owner and a former FBI agent both also claimed a figure named Raoul was behind the killing, according to the Department of Justice.

Loyd Jowers, a former Memphis tavern owner, claimed 25 years after the murder that he participated in a mafia-linked conspiracy to kill King. Jowers also linked Memphis police and Raoul to the assassination, the Justice Department said.

Donald Wilson, a former FBI agent, also claimed in 1998 that after King’s assassination he found some papers in Ray’s car that mentioned Raoul as well as figures linked to the Kennedy assassination.

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Wilson said the papers were stolen from him by someone who later worked in the White House, according to the Justice Department.

RFK killed in Los Angeles on June 5, 1968
Robert F. Kennedy never achieved the political heights of his older brother. But he was no less a beloved figure for his championing of civil rights.

He served as his brother’s attorney general and as a senator. He was killed in Los Angeles where he had gone for the California Democratic primary, just months after declaring his presidential candidacy.

The younger Kennedy spent the evening of the election at a suite at the Ambassador Hotel awaiting election results. He eventually went down to a hotel ballroom to thank supporters, then went through the hotel kitchen after being told it was a shortcut to a press room.

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An assassin, Sirhan Sirhan, killed him as he shook hands with a hotel busboy. Sirhan remains in prison.

But some believe the same elements behind the older Kennedy’s assassination also killed the former senator.

The presidential candidate’s son Robert F. Kennedy Jr., Trump’s pick to run the Department of Health and Human Services, has long maintained that Sirhan didn’t even shoot his father. The Trump cabinet pick believes Sirhan missed and that instead his dad was shot by a man linked to the CIA.

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Nigerian military silences 25 bandit gang members

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By Kayode Sanni-Arewa

Nigerian troops have silenced at least 25 members of the gang led by notorious terrorist Bello Turji, the military said Wednesday.

Turji’s second-in-command Aminu Kanawa and about eight other commanders were killed as troops raided terrorist camps in the northwestern states of Sokoto and Zamfara from Monday to Tuesday, Edward Buba, the spokesman for the Nigerian military told a press briefing.

Buba said “the camp of Turji is in disarray” following the killing of Kanawa and dozens of others.

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“The death of Turji’s second-in-command, close allies, commanders, and combatants was a significant blow to the terrorists’ network in the northwestern part of Nigeria, as well as their fighting capabilities,” Buba said, noting this group of terrorists was responsible for numerous kidnappings and terrorist attacks across the region.

“Overall, troops are not relenting until these terrorists are destroyed,” said Buba.

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