Nigerian

African fintech Flutterwave acquires Nigerian open banking startup Mono, sources say in an all-stock deal valued at $25M to $40M; Mono raised $17.5M since 2020

A profile of Nigerian fintech PalmPay, which raised $140M+ from Transsion and other Chinese firms, says it has 35M+ registered users, and aims to be “super app”

Aanu Adeoye / Financial Times :

A Nigerian tribunal upholds a $220M fine imposed on Meta in July 2024 for discriminatory and exploitative practices against Nigerian consumers

Nnaemeka Onyekachi / Nairametrics :

Starlink, which entered Nigeria in January 2023, ranks second among pure-play ISPs with 65K+ Nigerian subscribers in Q3 2024 due to reliable, high-speed access

Damilare Dosunmu / Rest of World :

A SCOTUS decision means that the US now legally owns the 69,370 BTC obtained during its Silk Road probe; the ex-IRS agent who seized them is in a Nigerian jail

The $4.4 billion in crypto is set to be the largest pile of criminal proceeds ever sold off by the US.

A US court fines Dozy Mmobuosi, the founder of Tingo, which sells phones to African farmers, $250M+ after the SEC said he inflated financial performance metrics

WHEREAS Plaintiff Securities and Exchange Commission (†… TechCabal : Tingo Group CEO Dozy Mmobuosi must pay over $250m after inflating financial performance X: Abubakar / @iatalkspace : The business...

A Nigerian court adjourned a money laundering trial against Binance and two of its executives to June 20 due to health issues of one executive, Tigran Gambaryan

Camillus Eboh / Reuters :

Nigeria's Information Ministry says Binance CEO Richard Teng “made false allegations of bribery” against unnamed Nigerian officials, after a $150M bribe claim

- Government says allegation ‘lacks any iota of substance’  — Binance under pressure amid focus on crypto role in naira woes

Sources and messages: Binance compliance officer Tigran Gambaryan told executives and Nigerian contacts of a ~$150M crypto bribe request, prior to his arrest

A compliance officer for the cryptocurrency exchange told senior executives and Nigerian contacts that the company had been asked to pay $150 million in crypto.

Some Nigerian officials raise concerns as Chinese company-backed super apps PalmPay and OPay gain popularity and Huawei's 5G equipment dominates the country

James Kynge / Financial Times :