All posts tagged: Nigerias

Behind Nigeria’s Arrest of Binance Employee, Claims of a Bribe Request

Behind Nigeria’s Arrest of Binance Employee, Claims of a Bribe Request

[ad_1] On a trip to Nigeria in January, Tigran Gambaryan, a compliance officer for the giant cryptocurrency exchange Binance, received an unsettling message: The company had 48 hours to make a payment of roughly $150 million in crypto. Mr. Gambaryan, a former U.S. law enforcement agent, understood the message as a request for a bribe from someone in the Nigerian government, according to five people familiar with the matter and messages reviewed by The New York Times. He and a group of his Binance colleagues had just met with Nigerian legislators, who accused the company of tax violations and threatened to arrest its employees. The Binance officials fled Nigeria in a panic. Later that month, Mr. Gambaryan wrote a three-page report describing the payment request and gave it to Binance’s lawyers, two people familiar with the report said. He also alerted contacts in the Nigerian government, the people said, and recounted the incident to them. The episode was the backdrop for a second trip to Nigeria that Mr. Gambaryan took in February. On his return, …

Nigeria’s YC-backed Chowdeck hopes to scale food delivery, a notoriously tough market, with .5M funding

Nigeria’s YC-backed Chowdeck hopes to scale food delivery, a notoriously tough market, with $2.5M funding

[ad_1] Food is significant to Nigerians, with households spending nearly 60% of their income on it, the highest globally, according to official reports. This strong affinity for food, coupled with the rise of online shopping, sets the stage for Nigeria’s food delivery market to potentially reach $2 billion to $3 billion by 2032. Despite the promising market size, there isn’t a clear leader yet. However, Lagos-based Chowdeck, backed by Y Combinator and armed with a $2.5 million in seed investment, aims to make its mark in a space that has burned heavyweights like Jumia and Bolt. Founded by Femi Aluko, Olumide Ojo, and Lanre Yusuf, Chowdeck offers consumers the convenience of ordering food and having it delivered to their doorstep within an average of 30 minutes. CEO Aluko shared that the inspiration for launching the startup came from his experience of quick deliveries and exceptional customer service during a work trip to Dubai. Aluko explained, “Ordering food in Nigeria would usually take one or two hours. But each time I ordered food during my three-month …

Nigeria’s Tunde Onakoya sets global chess record with 60 hour nonstop game | Education News

Nigeria’s Tunde Onakoya sets global chess record with 60 hour nonstop game | Education News

[ad_1] The 29-year-old chess player and child education advocate played in part to raise money for underprivileged children. A Nigerian chess champion has broken the world record for the longest chess marathon after playing unbeaten for more than 58 hours in New York City’s Times Square to raise money for underprivileged children. Tunde Onakoya, 29, embarked on his marathon session on Wednesday, hoping to raise $1 million for children’s education across Africa through the record attempt. He had set out to play the royal game for 58 hours but continued until he reached 60 hours at about 12:40am (04:40GMT) on Saturday, surpassing the current chess marathon record of 56 hours, 9 minutes and 37 seconds, achieved in 2018 by Norwegians Hallvard Haug Flatebo and Sjur Ferkingstad. “I can’t process a lot of the emotions I feel right now. I don’t have the right words for them. But I know we did something truly remarkable,” he told the AFP news agency. “[At] 3am last night, that was the moment I was ready to just give it …

Nigeria’s cybercrime reforms leave journalists at risk | Cybercrime

Nigeria’s cybercrime reforms leave journalists at risk | Cybercrime

[ad_1] The officers treated journalist Saint Mienpamo Onitsha as if he was violent and dangerous. Guns drawn, they arrested him at the home of a friend, drove him to the local police station in Nigeria’s southern Bayelsa State, and then flew him to the national capital, Abuja. A week later, they charged Onitsha under the country’s 2015 Cybercrimes Act and detained him over his reporting about tensions in the oil-rich Niger Delta region. This was in October 2023. He was released on bail in early February and is due to appear before a court on June 4. The Cybercrimes Act is tragically familiar to Nigeria’s media community. Since its enactment, at least 25 journalists have faced prosecution under the law, including four arrested earlier this year. Anande Terungwa, a lawyer for Onitsha, described the law to me as a tool misused to “hunt journalists”. For years, media and human rights groups had been calling for the act to be amended to prevent its misuse as a tool for censorship and intimidation. Then, in November last …

Nigeria’s Tinubu says country will no longer pay ransom to armed gangs

Nigeria’s Tinubu says country will no longer pay ransom to armed gangs

[ad_1] Abuja, Nigeria —  Nigeria will no longer pay ransom to armed gangs that have plagued the country with kidnapping and extortion, President Bola Tinubu said in an opinion piece published Monday. He made the statement as activists commemorated the 10th anniversary of the kidnapping of 276 schoolgirls from the town of Chibok. Acknowledging that “legitimate concerns” over kidnappings persist, Tinubu said Nigeria must address the root causes of poverty, inequality, and a lack of opportunity if it hopes to eradicate the threat posed by criminal gangs. In the Newsweek magazine piece, titled “Ten Years Since Chibok – Nigeria Will No Longer Pay the Price,” Tinubu said ransom payments to gangs only encouraged gangs to commit more crimes and said, “the extortion racket must be squeezed out of existence.” The president said instead of ransom, perpetrators of the violence will receive the security services’ counter actions. FILE – Nigeria’s President Bola Tinubu arrives for the closing session of the New Global Financial Pact Summit, in Paris, on June 23, 2023. He cited the recent rescue …

Nigeria’s Youverify raises .5M to enhance anti-money laundering compliance

Nigeria’s Youverify raises $2.5M to enhance anti-money laundering compliance

[ad_1] Youverify, a Nigerian provider of identity verification and anti-money laundering (AML) solutions for banks and startups, secured a $2.5 million investment from Elm, which specializes in offering ready-made and customized digital solutions to public and private institutions in Saudi Arabia. The pre-Series A investment from Elm also includes a strategic partnership to help Youverify streamline AML compliance for businesses, bolster global risk intelligence, and expand its products into new markets. Since 2022, Youverify has expanded its real-time business verification coverage to 145 jurisdictions across 48 countries. Additionally, the platform offers coverage for real-time individual verification, including credit history and national identity numbers, in 46 countries, according to founder and CEO Gbenga Odegbami who launched the startup in 2018. The chief executive mentioned on a call with TechCrunch that Youverify exceeded its initial objective set during its seed extension round in 2022, which was to expand coverage across 30 African countries. Despite this, the company currently serves commercial customers in only 12 countries. Across these countries, Youverify processes 4 million monthly applications for over 3,500 …

Nigeria’s Museum of West African Art Questions Encyclopedic Museums

Nigeria’s Museum of West African Art Questions Encyclopedic Museums

[ad_1] This fall, barring any last-minute delays, Nigeria will open the glitzy Museum of West African Art, a sprawling 15-acre complex with a world-class historical museum, a contemporary art gallery, a research and education institute, and more. Built on the razed site of the former Benin City and constructed to resemble a historic palace, MOWAA represents a new kind of museum: deeply embedded in and designed in concert with the culture it enshrines and celebrates. “We think about MOWAA as a blueprint, a convening point, and the center of outreach that helps grow and sustain museum infrastructure throughout West Africa, working with the living culture of Nigeria—our artisans, our local regional museums—and forging meaningful relationships and partnerships with museums in the West and globally,” Aindrea Emelife, an art historian and head curator at MOWAA, told ARTnews in a recent interview. Related Articles As part of the construction process, archaeological teams excavated the area to bring to the surface Benin City’s surviving walls, moats, and gates, and incorporate them into the new structures, blending the region’s …

CEO of Nigeria’s Access Bank among 6 killed in California helicopter crash

CEO of Nigeria’s Access Bank among 6 killed in California helicopter crash

[ad_1] The CEO of one of Nigeria’s largest banks was among the six people killed when the helicopter they were on crashed Friday night in California, an official said. Herbert Wigwe, the group CEO of the Lagos-based Access Bank, was on board the helicopter along with his wife and son, and Bimbo Ogunbanjo, World Trade Organization Director General Ngozi Okonjo-Iweala said in a post on X. She did not include the names of Wigwe’s wife and son. Ogunbanjo, also known as Abimbola Ogunbanjo, is the former chair of NGX Group, the Nigerian stock exchange. The San Bernardino County Sheriff’s Department said in a statement Saturday evening that all six people who were on board are dead. It has not publicly identified the victims. The helicopter crash near Nipton, California, was reported about 10:12 p.m. Friday, according to the sheriff’s department and the Federal Aviation Administration. The aircraft was a model marketed as the Eurocopter EC130 and Airbus Helicopters H130. Nipton is about 65 miles south of Las Vegas, where the Super Bowl between the San …

Attacks in Nigeria’s Plateau State Leave at Least 30 Dead 

Attacks in Nigeria’s Plateau State Leave at Least 30 Dead 

[ad_1] MAIDUGURI —  At least 30 people have been killed and several others injured in Nigeria’s central Plateau state in a series of attacks around Mangu town, despite a curfew imposed by the state government, a community spokesperson said. Farmer-herder attacks and communal conflicts are rife in central Nigeria, an ethnically and religiously diverse hinterland known as the ‘Middle Belt’ where a circle of violence has claimed hundreds of lives in recent years. The latest violence on Tuesday and Wednesday came after a Christmas Day attack in the area which left at least 140 people dead. A dusk-to-dawn curfew was imposed on Jan. 23. The attackers targeted several villages including Kwahaslalek, Kinat and Mairana, located on the borders of Mangu and Barkin Ladi local government areas, said Joseph Gwankat, head of the community group Mwaghavul Development Association, or MDA. “The victims had sought refuge in the house of a community leader after earlier unrest in Mangu town. The attackers surrounded the house and killed those inside,” Gwankat told Reuters by phone. Survivors reported that the …

Nigeria’s Osimhen on a mission to ‘write my own legacy’ at AFCON 2023 | Football

Nigeria’s Osimhen on a mission to ‘write my own legacy’ at AFCON 2023 | Football

[ad_1] As the 2023 Africa Cup of Nations (AFCON) kicks off in Ivory Coast this weekend, few players will be under the spotlight as much as Victor Osimhen. Despite only recently turning 25, the Nigeria striker is central to the Super Eagles’ hopes of a fourth continental triumph, a distinction he seeks to cap a steep rise in his profile over the last 18 months. Since breaking out as a star at the under-17 World Cup in 2015 by finishing as top scorer, Osimhen has borne comparisons with some of Nigeria’s greats, from Rashidi Yekini to Nwankwo Kanu. In leading Napoli to title success in Serie A – the Italian top flight – last season and becoming the first Nigerian to win the Confederation of African Football (CAF) Player of the Year for 24 years, he has begun to justify some expectations. In December, Osimhen also secured top 12 finishes in the Ballon d’Or and FIFA The Best awards, cementing a reputation as one of the deadliest finishers in world football. Still, the springy forward …