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ICAN urges FIRS to sanction MDAs over failure to remit tax

Participants at the just concluded 48th Annual Accountant Conference in Abuja have called on the Federal Inland Revenue Service (FIRS) to sanction all the Federal Government Ministries, Departments and Agencies (MDAs) that fail to remit their taxes to serve as a deterrent to others.

Nigerians pull out of bitcoin as cryptocurrencies crash

With a crash in the value of bitcoin last week, Nigerians are pulling back to cut down on their losses in the cryptocurrency market as their stake in the market declined dropping to N1.09 billion as against N1.51 billion which it was at the beginning of August this year.
FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

Hackers target smartphones to mine cryptocurrencies

Has your smartphone suddenly slowed down, warmed up and the battery drained down for no apparent reason? If so, it may have been hijacked to mine cryptocurrencies.

Nigerians’ stake in bitcoin down to N1.3 billion

With bitcoin prices fluctuating within a reasonably well-defined range over the last week, trading primarily between $6,000 and $6,600, the value of Nigerians’ stake in the cryptocurrency further declined last week.

South Korean swaps bitcoins for ‎€2 million in fake notes

The deal sounded murky from the start: in exchange for bitcoin worth two million euros ($2.3 million), the wealthy buyer would hand over the equivalent sum in cash in a luxury hotel on the French riviera.

Police nab suspects after $87 million cryptocurrency theft

Chinese police have arrested three suspects alleged to have stolen assets worth 600 million yuan ($87m) through hacking, state media reported Sunday, as cyber criminals target holders of bitcoin and other virtual currencies.

Nigeria’s stake in bitcoin drops to N1.51 billion

As the value of Bitcoin tumbles at the cryptocurrency market, Nigerian’s stake in the market declined dropping to N1.51 billion as against N1.733 billion which it was at the beginning of last month.
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Over 540 arrested over online football gambling in China

Over 540 suspects have been arrested for organising online football gambling using bitcoin, with over 10 billion Yuan (1.5 billion dollars) of money involved, police in south China’s Guangdong Province said on Wednesday.

Hackers steal $30m from bitcoin exchange

Hackers stole more than $30 million worth of cryptocurrencies from South Korea’s top bitcoin exchange, sending the unit’s price falling around the world on Wednesday.

World Cup: Authorities across Asia gear up to fight illegal gambling operators

Law enforcement and regulatory forces in Asia say they are gearing up to fight illegal gambling operators who have ramped up activities in the region ahead of the World Cup, making use of savvy technology and cryptocurrencies to evade prosecution.

Cardtonic: Sell iTunes and Amazon gift cards without getting cheated

There is just one little problem, you don’t know where to sell iTunes and Amazon cards without getting cheated. Well, luckily for you, we do.

South African boy kidnapped for bitcoin found

A South African teenager was found Thursday four days after he was kidnapped by a gang who demanded a ransom in bitcoin cryptocurrency worth about $123,000 (105,000 euros), police said.

ECB: Banks should ‘segregate’ any bitcoin activities

Banks wanting to trade in digital currencies should make sure those activities are clearly "segregated" from their other operations, a top ECB official cautioned Monday, as ever more financial institutions mull jumping on the bitcoin bandwagon.

CIBN charges Senate on speedy passage of FSS 2020 bills

The Chartered Institute of Bankers of Nigeria (CBN) has called on the Senate to urgently pass the Financial System Strategy (FSS 2020) Bills into law to promote financial inclusion and strengthen electronic payment system in the country.

Facebook sued over scammy cryptocurrency ads

Martin Lewis, a well-known financial journalist and founder of consumer finance site MoneySavingExpert.com, filed a lawsuit against Facebook today through

Iran bans bitcoin, other cryptocurrencies

Iran banned the use of bitcoin and other cryptocurrencies by banks and financial institutions on Monday amid ongoing debate over how best to regulate the technology.

Telegram messenger to be blocked in Russia following court ruling

A Russian court on Friday ordered that access to the Telegram messenger service should be blocked in Russia, Russian news agencies reported, heralding communication disruption for scores of users – including government officials.

Vietnam suffers $660m cryptocurrency scam

Vietnam has vowed to tighten regulations on cryptocurrencies as authorities investigate an alleged multi-million-dollar fraud in the country, where digital units are traded in a shadowy and unregulated market.

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ICAN urges FIRS to sanction MDAs over failure to remit tax

Participants at the just concluded 48th Annual Accountant Conference in Abuja have called on the Federal Inland Revenue Service (FIRS) to sanction all the Federal Government Ministries, Departments and Agencies (MDAs) that fail to remit their taxes to serve as a deterrent to others.

Senate passes FCT University of Science and Technology Establishment Bill

The Senate on Thursday passed the Federal Capital Territory (FCT) University of Science and Technology (Establishment) Bill, 2018.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

Court remands foreigners for smuggling 320kg Indian hemp into Nigeria

A Federal High Court in Lagos has ordered that two foreigners, a Ghanaian, Happy Allormasor and a Togolese, Kobia Takpa, be kept in prison after they were arraigned before it for smuggling 320 kilograms of Cannabis Sativa, popularly called Indian hemp into the country from Ghana.