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Lagos State to Establish Crypto Hub, Provides Incentives for Businesses That Accept Crypto Payments




Lagos State Government is about to score another first in Nigeria as it unveils a wider cryptocurrency framework to aid crypto adoption.

The framework according to the governor of Lagos State will result in the establishment of a crypto hub and the provision of incentives for businesses that accept crypto payments.

Investors King could recall that Lagos which is the economic capital of Nigeria signed a pact with a US-based blockchain company, Gluwa to transform the state agricultural sector using cryptocurrency.

Blessed with a huge population, a bustling technology industry and a growing number of startups, the implementation of a robust cryptocurrency framework will significantly add value to its economy.

Speaking to a cross-section of crypto enthusiasts in a short video, Lagos State Governor, Babajide Sanwolu said the state is ripe to have a framework that will promote blockchain technology. 

“Lagos state has become an enviable state for startups, especially in the technology and innovation sector. Thus, we are committed to working with all stakeholders to promote the growth of the tech and blockchain industry, including cryptocurrency in Lagos State”.

“We cannot afford to be left behind in the global shift towards digital currencies. Cryptocurrency has the potential to drive economic growth, create jobs, and empower our youth. As leaders, we must embrace innovation and create an environment that encourages its adoption,” he said. 

According to the governor, the government recognises the potential of crypto in transforming the state’s economy. Therefore the proposed initiative is aimed to boost adoption and support the industry for the benefit of Lagos and Lagosians.

Meanwhile, Investors King understands that this is a drastic shift from the position of the Federal Government which banned commercial banks from entertaining cryptocurrency transactions. 

It would be recalled that in February 2021, the CBN issued a circular to commercial banks stating that facilitating cryptocurrency transactions is prohibited. 

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Binance Executive Nadeem Anjarwalla Arrested in Kenya, Faces Extradition



Nadeem Anjarwalla

Nadeem Anjarwalla, the regional manager for Africa, has been apprehended by the Kenya Police Service.

Anjarwalla’s arrest, reported by Punch and confirmed by government sources familiar with the matter, marks a pivotal moment in the case that has garnered widespread attention within the cryptocurrency community and beyond.

The international criminal police organisation, Interpol, is actively involved in the proceedings and is working towards Anjarwalla’s extradition to Nigeria within the week.

This development underscores the seriousness with which authorities are treating the allegations against him.

Anjarwalla’s arrest follows a dramatic escape on March 22 from a guest house in Abuja, where he and Gambaryan had been held by Nigerian authorities.

Reportedly, Anjarwalla managed to flee while guards accompanied him to a nearby mosque for prayers during the Ramadan fast.

It’s alleged that Anjarwalla utilized a Kenyan passport to leave Nigeria, adding an international dimension to the legal complexities surrounding the case. Both Anjarwalla and Gambaryan were initially arrested and detained by Nigerian authorities on February 28, facing charges of tax evasion and money laundering.

While Anjarwalla faces extradition, his colleague, Tigran Gambaryan, remains in the custody of the Economic and Financial Crimes Commission (EFCC) in Nigeria after undergoing legal proceedings.

The arrest of Anjarwalla has reignited discussions surrounding cryptocurrency regulation and the accountability of industry leaders.

Binance, one of the world’s largest cryptocurrency exchanges, has been at the forefront of this debate as authorities seek to address potential financial misconduct within the sector.

Recently, Yuki, Gambaryan’s wife, made a heartfelt appeal to the Nigerian government, urging for her husband’s release and asserting his lack of influence over Binance’s corporate decisions.

The plea reflects the personal toll the legal proceedings have taken on individuals involved in the case.

As the legal process unfolds and extradition efforts continue, the case of Nadeem Anjarwalla serves as a stark reminder of the regulatory challenges facing the cryptocurrency industry and the global pursuit of financial transparency and accountability.

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Binance Set to Make a Comeback in India, Eyes Reentry with $2 Million Penalty



Binance - Investors King

Binance, the global cryptocurrency exchange, is preparing to reestablish its presence in India after being banned by the government earlier this year.

According to sources familiar with the matter, Binance is poised to return by agreeing to pay a penalty of approximately $2 million.

The move comes amidst a dynamic regulatory landscape in India, where authorities have been scrutinizing cryptocurrency trading platforms and their operations.

Binance, which was among the platforms facing regulatory heat, aims to navigate its return by addressing concerns and complying with regulatory requirements.

The decision to pay the penalty underscores Binance’s commitment to reentering the Indian market, despite the challenges posed by regulatory uncertainties.

By agreeing to the fine, the exchange seeks to demonstrate its willingness to cooperate with authorities and operate within the framework of Indian laws and regulations.

The return of Binance to India could have significant implications for the cryptocurrency ecosystem in the country.

As one of the largest exchanges globally, Binance’s reentry could provide Indian users with access to a wide range of digital assets and trading services.

However, the exchange is likely to face close scrutiny from regulators and policymakers as it resumes operations in India.

Authorities are expected to closely monitor Binance’s activities to ensure compliance with regulations and safeguard the interests of investors.

The $2 million penalty imposed on Binance reflects the challenges and complexities of operating in the cryptocurrency space, particularly in jurisdictions with evolving regulatory frameworks.

Despite these challenges, Binance appears determined to overcome hurdles and reestablish its foothold in the Indian market.

The reentry of Binance could also reignite discussions about the regulation of cryptocurrencies in India. As policymakers continue to grapple with the complexities of digital assets, the return of a major player like Binance is likely to spark debates about the appropriate regulatory approach to the cryptocurrency industry.

Overall, Binance’s decision to pay the penalty and pursue reentry into the Indian market underscores the exchange’s strategic vision and long-term commitment to serving users in one of the world’s largest cryptocurrency markets. As developments unfold, stakeholders will closely monitor Binance’s comeback and its implications for India’s crypto landscape.

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ETH to NGN: How Nigerian Crypto Traders Can Convert Ethereum to Cash

Learn how to convert your ETH to NGN seamlessly, speedily, and profitably
using the best method in Nigeria.



Ethereum is a big player in the Nigerian crypto market, and rightfully so. With a market cap only surpassed by Bitcoin, it’s a no-brainer that most crypto enthusiasts have this coin in their portfolio.

But it doesn’t end there—after profitably trading Ethereum, there’s the million-dollar question: How do they seamlessly convert it to Naira? Given the complicated crypto market, this question is valid.

This guide is the answer to this question as it explores the smoothest method for Nigerian (and Ghanaian) crypto traders to sell their ETH for cash.

Why OTC is the Best Choice To Convert Ethereum to Cash

Traditional exchanges and P2P trading have loads of shortcomings, including, complex trading, risk of fraudulent traders, and so much more. This puts over-the-counter methods at an advantage, especially for traders who value straightforward, clear, and profitable means to sell their Ethereum for Naira (and Cedis). To support this point, here are the reasons:

  • Simplicity:OTC platforms favor the simpler way of doing crypto trading over the more complicated means of traditional exchanges or the informal and risky means of P2P trading.
  • Security:Most OTC trading platforms are built on state-of-the-art security frameworks which offer way better customer protection than P2P trading.
  • Competitive Rates:OTC platforms follow the market trends and offer fees according to the performance of the market. So, you’re bound to find fees that are favorable to you and get premium value for your ETH profits.

Introducing Breet: Your One-Stop Shop for Selling ETH for Naira

Breet stands out as the leading OTC platform for Nigerian crypto traders. Here’s what makes Breet the perfect choice:

  • Effortless Selling:In a few clicks you can effortlessly sell your ETH for cash with a few clicks. Following a near-automated process, say goodbye to complex processes with Bret doing all the heavy lifting behind the scenes.
  • Enhanced Security:Confidently sell your ETH, knowing that you have foolproof security to keep out unauthorized access with methods like two-factor authentication, biometrics, and transaction PINs.
  • Fast and Direct: Breet is laser-focused on crypto-to-cash and crypto-to-crypto transactions. As a result, it is a non-custodial exchange, meaning that it doesn’t store your funds. This results in extremely fast transactions and direct deposits in your bank account.

Selling ETH on Breet: A Step-by-Step Guide

Getting started with Breet is easy! Here’s how to sell your ETH in a few simple steps:

  1. Download the App:Breet is available on Google Play Store, iOS App Store, and a web app to directly register.
  2. Sign Up and Verify:Follow the simple prompts to register and get started. Then, verify your account through KYC by submitting the required information.
  3. Sell Your ETH:Navigate to “Crypto-to-Cash” and select “Ethereum.” You’ll be presented with your unique wallet address, which was generated at sign-up. Copy it or scan the QR code to send your ETH.
  4. Relax and Wait:Breet automatically detects the incoming ETH and displays the conversion amount in NGN. Sit back and let Breet handle the rest.
  5. Receive Your Funds:Once the transaction is confirmed, your NGN balance will be updated. Withdraw your funds directly to your bank account.

Bonus Tip: Next time, for a more seamless experience, enable “Automatic Settlement” and have your funds automatically deposited into your bank account.


Selling your ETH for Naira doesn’t have to be a hassle. With Breet, Nigerian crypto traders can enjoy a smooth, secure, and profitable experience when converting their ETH to NGN. So ditch the complexities and embrace the ease of Breet!

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