NDIC Warns Nigerians Against Investing Money Online

NDIC Warns Nigerians Against Investing Money Online The Nigeria Deposit Insurance Corporation (NDIC) has warned Nigerians against  investing their money in online and block-chain currencies schemes. Its Managing Director, Alhaji Umaru Ibrahim, gave the warning at a special day of the corporation at the ongoing 2007 Enugu International Trade Fair on Thursday. Umaru, who was…

Do not transact on Bitcoin, other virtual currencies – CBN warns banks

The Central Bank of Nigeria, CBN, has warned Deposit Money Banks and other financial institutions in the country not to do business in crypto or digital currencies. The Apex bank listed some of the virtual currencies to include bitcoin, ripples, monero, litecoin, dogecion and onecoin. The CBN had during the week, lectured Nigeria on the…

MMM: CBN lectures Nigerians on dangers of Bitcoin, others

The Central Bank of Nigeria, CBN, has advised Nigerians against the use of virtual currencies, including bitcoin, ripples, litecoin. Recall that the Securities and Exchange Commission, SEC, issued a similar warning last week. The warnings came on the heels of announcement by Mavrodi Mondial Movement, MMM, that its operations will now be via digital currency….

The Controversial MMM is Seeking a Comeback Through Bitcoin

A month after it suspended operations in Nigeria, Mavrodi Mondial Moneybox (MMM), a Russian Ponzi scheme with More than 2 million participants in Africa’s most populous country, is already plotting its comeback. MMM claimed it had to temporarily close operations due to the “heavy workload” on its system. It, in turn, blamed the government and…

Stay away from Bitcoin, Swisscoin, others, govt warns Nigerians

Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), has warned Nigerians against investing in digital currencies, otherwise known as crypto currencies. In a circular issued at the weekend, SEC stated that crypto currencies such as Swisscoin, OneCoin, Bitcoin and such other virtual or digital currencies and their promoters have no legal standing in…

Bitcoin crashes below $800 as China probes manipulation of exchanges

Investors in increasingly popular Bitcoin felt the pain today as the price of the crypto-currency fell by 20 percent or over 1,200 Yuan in heavy trading in China, and down more than $100 to just under $800 a coin on comparable US markets. This follows China’s central bank saying it had launched “spot investigations” on…

MMM dumps Naira, unveils new mode of payment in Nigeria

Ahead of its long anticipated resumption, Mavrodi Mondial Moneybox, otherwise known as MMM, Nigeria, says it has introduced Bitcoin, said to be the world’s best performing currency in 2016, as part of its mode of payment in its comeback plans. The ponzi scheme had announced a ‘freeze’ on accounts of users in December 2016,  and…

Sponsored: Cryptocurrency, Bitcoin, Five2btc: The wealth revolution

Have you been looking for a legitimate way to make money on the Internet using your smart phone (tablet, PC), and more importantly, without leaving the comfort of your home and or office? Then read on… even if for knowledge sake. You can still end 2016 very strong and start 2017 on a good note….

Nigeria’s CBN May Legalise Use of Bitcoin For Transactions

Lucy Nwachukwu(NAN): Alhaji Umaru Ibrahim, the Managing Director, Nigeria Deposit Insurance Commission (NDIC), on Friday said the commission and CBN had set up a committee to look into the trending digital currency, Bitcoin. According to Bitcoin.org, Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins…