Latest news with #BuchiOkoro
Zawya
19-05-2025
- Business
- Zawya
1.5 Billion Reasons for Crypto in Africa - Quidax Chief Executive Officer (CEO) at Consensus 2025
In a powerful speech at Consensus 2025, crypto's most influential event, Buchi Okoro, CEO and Co-founder of Quidax ( delivered a message for global collaboration to unlock Africa's potential. Sharing his personal journey and highlighting the transformative power of crypto on the continent, Okoro called on the global community to join Quidax in building the future of Africa. Okoro began by recounting his own challenging entry into the crypto space in 2016, where he fell victim trying to buy Bitcoin ( "It wasn't a lot but it was all I had," he said. "So my question becomes how do we make sure that my story is not the story of every African trying to get into crypto? How do we make sure that what is possibly the largest innovation in finance in 100 years doesn't leave 1.5 billion people behind?" He stated that in the West crypto is often viewed through the lens of accumulation, speculation, or novel applications, in Africa, "Crypto is Hope." Okoro painted a vivid picture of a continent with an average inflation rate of 19%, inefficient and costly remittance processes despite over $150 billion in annual flows, plus a young population eager for opportunities. "In Africa crypto is not hype, It is hope, crypto is an opportunity, crypto is freedom," Okoro declared. "I personally believe that crypto in Africa is one of the greatest expressions of Satoshi's vision for Bitcoin. I believe Africa is an opportunity." His invitation at Consensus 2025 was simple: "Join us to build the future of Africa, not the future of crypto in Africa but the future of Africa." He suggested several ways to get involved, including partnering with Quidax, investing in African opportunities, or learning about the continent to contribute value and create opportunities. "As the saying goes, it takes a village to raise a child," Okoro concluded. "I believe it will take a village to connect Africa to the rest of the world and that process can start with everyone of us here and together we can build Africa's future." Distributed by APO Group on behalf of Quidax. About Quidax: Quidax is an African-founded cryptocurrency exchange ( that makes it easy for anyone to buy, sell, store and transfer cryptocurrencies. Quidax additionally enables OTC trading ( and gives fintechs the tools to offer cryptocurrency services to customers through a dedicated crypto API. Quidax was officially launched in 2018 and has customers in over 70 countries.
Zawya
26-03-2025
- Business
- Zawya
Tether and Quidax Collaborate to Drive Blockchain Education in Africa
Quidax ( Africa's leading crypto exchange ( has announced a strategic collaboration with Tether ( the largest company in the digital asset industry. This collaboration aims to enhance blockchain education in Africa by equipping users with knowledge about Bitcoin and stablecoins, starting in Nigeria and Ghana. Through this collaboration, Quidax ( and Tether aim to empower over 15,000 people and businesses with the knowledge to leverage digital assets. The collaboration will include financial literacy campaigns, thought leadership, interactive workshops, and community engagement efforts designed to equip users with the knowledge to navigate the digital asset ecosystem safely and effectively. 'With rising interest in digital assets across Africa, stablecoins like USDT ( provide a reliable way for people to store value and conduct business transactions with ease,' said Buchi Okoro, CEO of Quidax. 'Collaborating with Tether allows us to bridge the knowledge gap and drive broader education of cryptocurrency in a way that benefits everyday people.' USDT, a dollar-pegged stablecoin, plays a crucial role in financial inclusion by providing stability amid currency volatility and enabling seamless cross-border payments. With Africa emerging as a key player in the global crypto economy, this collaboration aligns with the region's growing demand for digital financial education. 'At Tether, we are committed to fostering financial education and empowering communities with the tools they need to navigate the digital economy. Africa is at the forefront of blockchain adoption, with Ghana and Nigeria among the most prominent emerging markets. Through this collaboration with Quidax, we aim to give individuals and businesses the knowledge to leverage digital assets consciously. By collaborating on financial education, we are laying a foundation for a more inclusive and accessible financial ecosystem.' said Paolo Ardoino, CEO of Tether. Quidax and Tether are working toward a more inclusive and empowered financial ecosystem in Africa by fostering financial literacy and expanding access to digital assets education. Distributed by APO Group on behalf of Quidax. About Quidax: Quidax is an African-founded cryptocurrency exchange ( that makes it easy for anyone to buy, sell, store and transfer cryptocurrencies. Quidax additionally enables OTC trading and gives fintech companies the tools to offer cryptocurrency services to customers through a dedicated crypto API ( Quidax was officially launched in 2018 and has customers in more than 70 countries. About Tether: Tether is a pioneer in the field of stablecoin technology, driven by an aim to revolutionize the global financial landscape, with a mission to provide accessible, secure, and efficient financial, communication, and energy infrastructure. Tether enables greater financial inclusion and communication resilience, fosters economic growth, and empowers individuals and businesses. As the creator of the largest, most transparent, and liquid stablecoin in the industry, Tether is dedicated to building sustainable and resilient infrastructure for the benefit of underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.
Gulf Today
12-03-2025
- Business
- Gulf Today
Nigeria moves gingerly to tame Africa's biggest crypto market
Nigerian authorities are warily moving to regulate Africa's largest cryptocurrency market in long-delayed efforts to create legal certainty in a field still fraught with fraud and years, regulators and government officials have viewed cryptocurrencies and other digital assets with suspicion despite their popularity in the country. Nigeria ranked second globally after India in 2023 and 2024 on a crypto adoption index compiled by Chainalysis, a global crypto research firm. Over the past year, a more regulated sector has slowly started to take shape, even as fraud remains a concern for police. The director-general of the country's Securities and Exchange Commission (SEC), Emomotimi Agama, confirmed in August that the regulator was pushing ahead with efforts to create clarity around the use of digital assets. That month, the SEC announced that it had granted 'Approval-in-Principle' to two exchanges to begin operations. The first licensed companies — Busha Digital Limited and Quidax Technologies Limited — have since launched. 'We believe this regulatory move is a positive start that will benefit the market in the long run by building trust and stability,' Buchi Okoro, co-founder and chief executive of Quidax, said. 'The SEC approval sent a clear signal to potential crypto investors, emphasising their focus on customer protection.' However, the government's regulatory push is being bogged down by scepticism and widespread fraud and investment scams, with many grifters in play. In December, Nigeria's Economic and Financial Crimes Commission (EFCC) said it arrested 792 suspects — including scores of foreigners — in a single operation in the affluent Victoria Island area of Lagos 'for their alleged involvement in cryptocurrency investment fraud and romance scams.' A romance scam is when a fraudster pretends to be in love with a target in order to fleece them. The previous month, the SEC issued an advisory against Marino FX Limited, which it said had falsely claimed to be registered by the commission as a cryptocurrency exchange. It was not the first time the SEC had published such a notice. Beyond approving the exchanges, Nigeria's parliament is considering an investment and securities bill that, if passed into law, would establish a regulatory framework for digital currencies. In the run-up to the general election in February 2023, President Bola Tinubu, then as the candidate of the ruling All Progressives Congress, promised a regulatory environment that would encourage the healthy adoption of digital assets. Many in the industry saw his breakaway from his predecessor's hardline stance against cryptocurrencies as a welcome development. However, months after taking office, Africa's economic powerhouse imposed a new set of restrictions on crypto exchanges in an attempt to halt the sliding value of the local naira currency. In February 2024, central bank governor Olayemi Cardoso singled out Binance for blame. Binance, the world's biggest digital asset exchange, was forced to shut down operations involving the naira. Many customers quickly offloaded their wallets, fearing their funds might be trapped. Authorities arrested, sued and later released one of two Binance executives who had flown into the country for talks with the government. The other fled government custody. Nigeria's Inland Revenue Service still has an ongoing $81.5 billion lawsuit against the exchange, which had not been registered to operate in the country. Laolu Biyi Samuel, co-founder of Busha Digital Limited, said the overall regulatory environment was moving positively. 'Despite the strong headwinds we have faced over the years, we have truly seen a turnaround in the government's approach to innovation in the sector,' he said. With the United States recently launching a 'strategic bitcoin reserve', experts believe Nigeria's appetite for digital assets could help the West African nation reap the benefits of a potential windfall. Still, there are concerns that cryptocurrencies remain a conduit for money laundering and terrorism financing, and that the high volatility could wipe out investments in a country with a weak social safety net. 'Regulatory clarity and policies should be prioritised now,' Obinna Iwuno, president of Stakeholders in Blockchain Association of Nigeria (SiBAN), said. 'It is not too late to start discussing a national Bitcoin strategy and action plans.'
Zawya
12-03-2025
- Business
- Zawya
Nigeria moves gingerly to tame Africa's biggest crypto market
Lagos: Nigerian authorities are warily moving to regulate Africa's largest cryptocurrency market in long-delayed efforts to create legal certainty in a field still fraught with fraud and volatility. For years, regulators and government officials have viewed cryptocurrencies and other digital assets with suspicion despite their popularity in the country. Nigeria ranked second globally after India in 2023 and 2024 on a crypto adoption index compiled by Chainalysis, a global crypto research firm. Over the past year, a more regulated sector has slowly started to take shape, even as fraud remains a concern for police. The director-general of the country's Securities and Exchange Commission (SEC), Emomotimi Agama, confirmed to AFP in August that the regulator was pushing ahead with efforts to create clarity around the use of digital assets. That month, the SEC announced that it had granted "Approval-in-Principle" to two exchanges to begin operations. The first licensed companies -- Busha Digital Limited and Quidax Technologies Limited -- have since launched. "We believe this regulatory move is a positive start that will benefit the market in the long run by building trust and stability," Buchi Okoro, co-founder and chief executive of Quidax, told AFP. "The SEC approval sent a clear signal to potential crypto investors, emphasising their focus on customer protection." However, the government's regulatory push is being bogged down by scepticism and widespread fraud and investment scams, with many grifters in play. In December, Nigeria's Economic and Financial Crimes Commission (EFCC) said it arrested 792 suspects -- including scores of foreigners -- in a single operation in the affluent Victoria Island area of Lagos "for their alleged involvement in cryptocurrency investment fraud and romance scams." A romance scam is when a fraudster pretends to be in love with a target in order to fleece them. The previous month, the SEC issued an advisory against Marino FX Limited, which it said had falsely claimed to be registered by the commission as a cryptocurrency exchange. It was not the first time the SEC had published such a notice. Cautious steps Beyond approving the exchanges, Nigeria's parliament is considering an investment and securities bill that, if passed into law, would establish a regulatory framework for digital currencies. In the run-up to the general election in February 2023, President Bola Tinubu, then as the candidate of the ruling All Progressives Congress, promised a regulatory environment that would encourage the healthy adoption of digital assets. Many in the industry saw his breakaway from his predecessor's hardline stance against cryptocurrencies as a welcome development. However, months after taking office, Africa's economic powerhouse imposed a new set of restrictions on crypto exchanges in an attempt to halt the sliding value of the local naira currency. In February 2024, central bank governor Olayemi Cardoso singled out Binance for blame. Binance, the world's biggest digital asset exchange, was forced to shut down operations involving the naira. Many customers quickly offloaded their wallets, fearing their funds might be trapped. Authorities arrested, sued and later released one of two Binance executives who had flown into the country for talks with the government. The other fled government custody. Nigeria's Inland Revenue Service still has an ongoing $81.5 billion lawsuit against the exchange, which had not been registered to operate in the country. Money laundering concerns Laolu Biyi Samuel, co-founder of Busha Digital Limited, said the overall regulatory environment was moving positively. "Despite the strong headwinds we have faced over the years, we have truly seen a turnaround in the government's approach to innovation in the sector," he said. With the United States recently launching a "strategic bitcoin reserve", experts believe Nigeria's appetite for digital assets could help the West African nation reap the benefits of a potential windfall. Still, there are concerns that cryptocurrencies remain a conduit for money laundering and terrorism financing, and that the high volatility could wipe out investments in a country with a weak social safety net. "Regulatory clarity and policies should be prioritised now," Obinna Iwuno, president of Stakeholders in Blockchain Association of Nigeria (SiBAN), told AFP. "It is not too late to start discussing a national Bitcoin strategy and action plans." © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Iraqi News
11-03-2025
- Business
- Iraqi News
Nigeria moves gingerly to tame Africa's biggest crypto market
Lagos – Nigerian authorities are warily moving to regulate Africa's largest cryptocurrency market in long-delayed efforts to create legal certainty in a field still fraught with fraud and volatility. For years, regulators and government officials have viewed cryptocurrencies and other digital assets with suspicion despite their popularity in the country. Nigeria ranked second globally after India in 2023 and 2024 on a crypto adoption index compiled by Chainalysis, a global crypto research firm. Over the past year, a more regulated sector has slowly started to take shape, even as fraud remains a concern for police. The director-general of the country's Securities and Exchange Commission (SEC), Emomotimi Agama, confirmed to AFP in August that the regulator was pushing ahead with efforts to create clarity around the use of digital assets. That month, the SEC announced that it had granted 'Approval-in-Principle' to two exchanges to begin operations. The first licensed companies — Busha Digital Limited and Quidax Technologies Limited — have since launched. 'We believe this regulatory move is a positive start that will benefit the market in the long run by building trust and stability,' Buchi Okoro, co-founder and chief executive of Quidax, told AFP. 'The SEC approval sent a clear signal to potential crypto investors, emphasising their focus on customer protection.' However, the government's regulatory push is being bogged down by scepticism and widespread fraud and investment scams, with many grifters in play. In December, Nigeria's Economic and Financial Crimes Commission (EFCC) said it arrested 792 suspects — including scores of foreigners — in a single operation in the affluent Victoria Island area of Lagos 'for their alleged involvement in cryptocurrency investment fraud and romance scams.' A romance scam is when a fraudster pretends to be in love with a target in order to fleece them. The previous month, the SEC issued an advisory against Marino FX Limited, which it said had falsely claimed to be registered by the commission as a cryptocurrency exchange. It was not the first time the SEC had published such a notice. – Cautious steps – Beyond approving the exchanges, Nigeria's parliament is considering an investment and securities bill that, if passed into law, would establish a regulatory framework for digital currencies. In the run-up to the general election in February 2023, President Bola Tinubu, then as the candidate of the ruling All Progressives Congress, promised a regulatory environment that would encourage the healthy adoption of digital assets. Many in the industry saw his breakaway from his predecessor's hardline stance against cryptocurrencies as a welcome development. However, months after taking office, Africa's economic powerhouse imposed a new set of restrictions on crypto exchanges in an attempt to halt the sliding value of the local naira currency. In February 2024, central bank governor Olayemi Cardoso singled out Binance for blame. Binance, the world's biggest digital asset exchange, was forced to shut down operations involving the naira. Many customers quickly offloaded their wallets, fearing their funds might be trapped. Authorities arrested, sued and later released one of two Binance executives who had flown into the country for talks with the government. The other fled government custody. Nigeria's Inland Revenue Service still has an ongoing $81.5 billion lawsuit against the exchange, which had not been registered to operate in the country. – Money laundering concerns – Laolu Biyi Samuel, co-founder of Busha Digital Limited, said the overall regulatory environment was moving positively. 'Despite the strong headwinds we have faced over the years, we have truly seen a turnaround in the government's approach to innovation in the sector,' he said. With the United States recently launching a 'strategic bitcoin reserve', experts believe Nigeria's appetite for digital assets could help the West African nation reap the benefits of a potential windfall. Still, there are concerns that cryptocurrencies remain a conduit for money laundering and terrorism financing, and that the high volatility could wipe out investments in a country with a weak social safety net. 'Regulatory clarity and policies should be prioritised now,' Obinna Iwuno, president of Stakeholders in Blockchain Association of Nigeria (SiBAN), told AFP. 'It is not too late to start discussing a national Bitcoin strategy and action plans.'
