Nexo is under investigation for computer fraud, organised crime, money laundering, tax offenses, and crimes involving the provision of banking services without the proper authorisation.
Nigerians who substantially invested in FXT, especially those in rural areas, will lose their savings as a result of this occurrence.
The development was announced on Thursday.
The approval came weeks after Iran’s Trade Development Organisation endorsed its first official import order, buying cars worth $10 million using cryptocurrency.
The authority added that “the investigation focused on suspicion of large-scale fraud against the state treasury in France.”
China has closed down at least 105 websites hyping cryptocurrency; 989 social media accounts allegedly misleading people to invest in cryptocurrency.
The judge ordered the convict to repay the nominal complainant N18.4 million within six months.
The defendant was given an option of a N2 million fine. His company was also fined N1 million, and he was asked to return the N20 million to his victim.
The Securities and Exchange Commission (SEC) has released a new set of rules to guide digital assets traders and investors in Nigeria.
Twitter stock soared to $50.17 per share in pre-trading on Thursday after the announcement.
