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Crypto: Binance confirms working with Tinubu govt to block dollar-naira exchange

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“Users behaving in a manipulative way will be removed from the platform.’’

 

One of the World’s biggest cryptocurrency trading platform, Binance, has confirmed collaborating with President Bola Tinubu’s administration to block Nigerians from dollar-naira trade on its platform.

Binance disclosed this in an announcement on its “commitment to P2P users in Nigeria” on Tuesday, warning that “users behaving in a manipulative way will be removed from the platform.”

“As industry leaders,” Binance said, “We are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.’’

 

The crypto exchange platform further said it is “setting an upper limit for ads, filtering and removing bad ads, requiring and raising deposits for merchants posting ads as well as processes for actioning against any market manipulators.”

On Tuesday, Binance disabled sell option for its Nigerian users, blocking them from selling fiat currency, USDT, on the platform. It also capped the buy option to $1802 for Nigerian users.

It also disabled purchase of cryptocurrencies via P2P for its Nigerian users, leaving those who might want to sell their crypto assets such as Bitcoin, BNB, Ethereum via P2P stuck.

This comes as another desperate move by the Tinubu-led government to stem naira freefall against the dollar. The naira continues to decline even after the Economic Financial Crimes Commission raided perceived currency speculators at a popular Abuja Bureau De Change hub on Monday.

Earlier on Tuesday, the National Security Adviser, Nuhu Ribadu, directed law enforcement agencies to take firm measures against anyone engaged in foreign exchange market speculation.

“In a concerted effort to safeguard Nigeria’s foreign exchange market and combat speculative activities, the Office of the National Security Adviser and the Central Bank of Nigeria are joining forces to address challenges impacting the nation’s economic stability,” a statement issued by Mr Ribadu’s office read.

 

It added, “The CBN’s proactive measures to stabilise the foreign exchange market and stimulate economic activities have been commendable. However, the effectiveness of these initiatives is being undermined by the activities of speculators, both domestic and international, operating through various channels, thereby exacerbating the depreciation of the Nigerian naira and contributing to inflation and economic instability.”

The naira hit its all time low, trading for N1902 to a dollar on Tuesday before Binance blocked its Nigerian user from selling USDT on the platform.

Mr Tinubu’s government collaborating with Binance to block Nigerians from dollar-naira trading mirrors his predecessor, former President Muhammadu Buhari’s ban on cryptocurrency trading in the country in 2021. The CBN under Mr Tinubu’s watch in December 2023 lifted the ban on cryptocurrency.

Some Nigerian Binance users have criticised Binance on its latest move, threatening to migrate to other platforms for their dollar-naira trading.

An x user, @MikaelBernard, on Tuesday, dismissed Binance’s decision against Nigerian users as “absolutely ridiculous,” adding that “If this is how they plan to save the naira, I’m sorry but it’s going to fail woefully.”

“You can no longer sell your own tokens for above 1802/$. I don’t know what they aim to achieve, but traders are now on telegram, selling at 1850/$ and above. Binance was only a medium. If you block Binance, people will find new ways,” @MikaelBernard tweeted.

 

Another X user, MiracleOkeke said, “So, let me understand, you literally decided to put a peg or control a somewhat person to person transaction that should normally be determined by whatever price they wish? As an open market? Jokes on you, we will move to other platforms.”

With “more than half of its adult population” trading cryptocurrency “monthly,” according Binance, Nigeria ranks among countries with the largest population of crypto traders in the world.

Recent restrictions on domiciliary accounts in Nigeria by the Tinubu-led government could have also increased the number of Nigerians using the exchange to save their money or facilitate receipt of funds from abroad.

 

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YouTube to cut monetization for low-effort and A.I. content from July 15.

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From July 15, 2025, YouTube will implement a new set of rules in its monetization policies within the YouTube Partner Program (YPP), focused on eliminating repetitive, automated, and low-value content.

According to the official announcement, YouTube will update its monetization policies specifically to address two types of content considered “inauthentic”.

The first type is “mass-produced content”.

According to the announcement, this includes “videos created in bulk with minimal human input, such as automated presentations with synthetic voices and no personalized narrative.”

Another type of content that will be cut are “repetitive content. This includes “videos that reuse formats, scripts, or styles without offering distinctive value, such as reaction mashups, remixes of existing content, or compilations with minimal editing.”

This type of content, while it may have previously met technical requirements, will now be demonetized for lacking originality and real value for viewers.

According to the announcement, all videos that fall into the following categories will be excluded from monetization:

“Reuse third-party material without significant transformation.

“Use auto-generated voices or subtitles without adding commentary or original context.

“Publish the same type of video repeatedly without variation or innovation.

“Be superficially edited to appear new (e.g., changing colors, cropping scenes, or applying filters without adding value).
Channels that continue using these practices risk being removed from the YouTube Partner Program.”

YouTube will reward monetization only to creators producing original and authentic content, including:

“Educational videos with unique explanations, research, or tutorials that teach something new.

“Innovative entertainment content, such as original sketches, short films, vlogs, or creative analysis.

“Narration and editing with the creator’s own voice and style, avoiding exclusive reliance on artificial narrators or automated tools.”

The platform clarified that AI is not prohibited, as long as the creator adds meaningful human value…

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IMO STATE LAUNCHES DIGITAL LAND INFORMATION CENTER, UNLOCKING NEW ERA FOR PROPERTY MANAGEMENT AND INVESTMENT

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Imo State has taken a major leap in land administration with the unveiling of the Imo Land Information Service Centre (IMLISC), a modern, technology-driven facility established under the leadership of Governor Hope Uzodimma. Located within the Ministry of Lands, Survey and Physical Planning in Owerri, this state-of-the-art centre is set to transform land governance, boost investor confidence, and protect citizens from fraudulent land dealings.

The IMLISC introduces a fully digital system that streamlines land transactions and offers services such as e-land searches, land recertification, issuance of Certificates of Occupancy (C of O), and ownership transfers. These automated processes ensure faster, more transparent, and accountable land administration, marking a clear departure from outdated, manual methods.

Governor Uzodimma’s administration has championed this initiative as part of its broader commitment to innovative governance and economic reform. The centre provides Imo citizens with secure access to land-related data, shielding them from scams and ensuring legitimacy in property transactions. It builds trust and simplifies land ownership—making it both secure and straightforward.

For the business community, IMLISC is a game-changer. Entrepreneurs and real estate developers now have access to clear documentation, reliable data, and efficient processing—eliminating bottlenecks that previously hampered progress. The result is a more attractive business climate that welcomes both local and diaspora investors with open arms.

Moreover, the new system is expected to enhance internally generated revenue (IGR). With better documentation and fewer disputes, land transactions will be more organized and traceable, increasing state earnings from legitimate dealings. These funds can then be reinvested into critical sectors like infrastructure, healthcare, and education—ultimately benefiting every Imo resident.

The centre will also serve as a hub for land dispute resolution, offering timely and fair intervention mechanisms. Through data-driven decision-making, it will support sustainable urban planning and responsible land use policies across the state.

Governor Uzodimma’s foresight in establishing the IMLISC is a testament to his commitment to good governance, transparency, and economic growth. The centre is not just a building—it is a symbol of Imo State’s readiness for progress, a safeguard for property rights, and a magnet for investment.

With this initiative, Imo is setting a new benchmark in land administration—one that empowers citizens, supports business growth, attracts global investors, and drives development for the future.

#HopeNewAndElectronicMediaCenter

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French Tesla customers sue over brand becoming ‘extreme right’

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Tesla sales in the EU have nearly halved, with many customers looking for electric cars put off by Elon Musk's political positions. Photo: JULIEN DE ROSA / AFP/File Source: AFP

Around 10 French clients with leases on Teslas are suing the US carmaker, run by Elon Musk, because they consider the vehicles to be “extreme-right” symbols, the law firm representing them said on Wednesday.

They feel they suffered “direct and concrete” damage from the way Teslas are now associated with “Elon Musk’s actions”, the GKA law firm said.

They are demanding the Paris commercial court order their lease contracts be terminated and legal costs reimbursed, it said in a statement, signed by lawyers Patrick Klugman and Ivan Terel.

The lawsuit comes as Tesla sales in the European Union have almost halved since the beginning of the year, a slump attributed to Musk’s political activities.

Those activities include him — until last week — standing firmly with US President Donald Trump, and overseeing efforts to cut down US departments and agencies.

He has also lent public support to Germany’s far-right Alternative for Germany (AfD) party, and came under criticism for making a repeated gesture with an out-thrust arm interpreted by many historians to be a Nazi salute.

“Because of Elon Musk’s actions… Tesla branded vehicles have become strong political symbols and now appear to be veritable extreme-right ‘totems’, to the dismay of those who acquired them with the sole aim of possessing an innovative and ecological vehicle,” GKA said in a statement.

The perception of the Teslas they leased “prevents them from fully enjoying their car”, it said.

Most of the leases run for four years, with an option at the end to buy the vehicle.

Tesla cars in Europe and elsewhere have been targeted by vandals, with some drivers reporting they have been insulted for using what is sometimes called on social media a “swasti-car”.

Several owners have taken to putting stickers on their Teslas reading “I bought this before Elon went crazy”.

“The situation is both unexpected and impossible for French Tesla owners,” Klugman told AFP.

“Musk’s political positions have interrupted enjoyment” of the vehicles, and “we believe that Mr Musk owes these buyers the peaceful possession of the thing sold”, he said.

Contacted by AFP for comment, Tesla did not immediately respond.

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