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Abba and Abbas are the same. The only difference is the S.

The official website of the upcoming Central Bank of Nigeria’s (CBN) digital currency, the eNaira, has gone live, exactly one week to the planned launch of the initiative.

The website has already recorded over a million hits barely 24 hours after going live.


The development shows a reflection of the level of interest in the proposed digital currency. The website promises easier financial transactions for users of eNaira, offers an opportunity for peer-to-peer payments which allows users to send money to one another through a linked bank account or card; allows customers to move money from their bank account to their eNaira wallet with ease; can monitor their eNaira wallet, check balances and view transaction history; and make in-store payment using their eNaira wallet by scanning QR codes.

In addition, customers are allowed to scan the QR Code on the website to get started.
CBN Governor, Mr. Godwin Emefiele, while speaking to a gathering of foreign investors in New York, recently, had told his audience that because of activities surrounding the country’s Independence celebration on October 1, the earlier planned launch of the eNaira on same date would likely be rescheduled to October 4, 2021.
“The central bank would not want the event to take the shine away from the Independence celebration,” he said.

“We are going to be the first country in Africa to launch a digital currency. It is a novel idea because we think it will facilitate trade, Nigeria being the biggest economy in Africa, this will set the tone to tell Africa that we are ready to lead and we would indeed lead in trade and we would make sure that happens.

“Between all central bankers in ECOWAS, we are already working on a certain collaboration to make trade, payment and banking system integrate in such a way to set example on the African Continental Free Trade Area (AfCFTA),” he added.

One of the main reasons why transacting in cryptos such as Bitcoin and Ethereum can be somewhat scary for newcomers is the number of scams that plague the entire cryptocurrency ecosystem. While some cryptocurrency scams are simple and obvious, others are more complex and sometimes difficult to avoid.

Over the past several years, cryptocurrency scams have evolved to a point where the scams have not only become more elaborate but ambitious in scope. Bad actors have been consistently trying to improve their techniques to trick innocent cryptocurrency users into falling for these scams.

In this article, we will discuss some of the most common cryptocurrency scams that you should avoid. We have also mentioned some useful tips to ensure proper cyber hygiene and keep scammers at bay. To round off, we will also discuss some of the essential security features you must stick to.

Types of common cryptocurrency scams

Investment Scam

Investment scams are widespread. In this scam, the scammers would promise services or products offering high profits or returns with little or negligible risk. In return, all they ask is for you to transfer cryptocurrency, or grant them access to your wallets or trading accounts. Things that are too good to be true, often are. While the scammer might initially reassure you with small amounts of the promised returns, eventually they will take off with all your assets and disappear without a trace.

Believe it or not, these ................

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https://cryptonews9ja.com/2021/08/27/how-you-can-avoid-falling-victims-to-common-cryptocurrency-scams-in-nigeria/


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One of the main reasons why transacting in cryptos such as Bitcoin and Ethereum can be somewhat scary for newcomers is the number of scams that plague the entire cryptocurrency ecosystem. While some cryptocurrency scams are simple and obvious, others are more complex and sometimes difficult to avoid.

Over the past several years, cryptocurrency scams have evolved to a point where the scams have not only become more elaborate but ambitious in scope. Bad actors have been consistently trying to improve their techniques to trick innocent cryptocurrency users into falling for these scams.

In this article, we will discuss some of the most common cryptocurrency scams that you should avoid. We have also mentioned some useful tips to ensure proper cyber hygiene and keep scammers at bay. To round off, we will also discuss some of the essential security features you must stick to.

Types of common cryptocurrency scams

Investment Scam

Investment scams are widespread. In this scam, the scammers would promise services or products offering high profits or returns with little or negligible risk. In return, all they ask is for you to transfer cryptocurrency, or grant them access to your wallets or trading accounts. Things that are too good to be true, often are. While the scammer might initially reassure you with small amounts of the promised returns, eventually they will take off with all your assets and disappear without a trace.

Believe it or not, these ................

Click the link below to continue reading...

https://cryptonews9ja.com/2021/08/27/how-you-can-avoid-falling-victims-to-common-cryptocurrency-scams-in-nigeria/


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Facebook is ready to launch a digital wallet that would let users store cryptocurrencies, a senior company executive said in a US media interview Wednesday.

David Marcus, head of Facebook’s crypto unit, told The Information news site that company leaders “feel pretty committed” to launch the digital wallet called Novi this year.

Marcus said he would have preferred to release Novi alongside Diem, a digital currency tied to the dollar that the company is also developing, but Diem’s timing was uncertain.

“In theory, Novi could launch before Diem, but it would mean launching without Diem and that’s not necessarily something that we want to do,” Marcus told The Information.

“It all depends on how long it’s going to take for Diem to actually go live and that’s not something I’m personally looking after.”

In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra. The project however faced regulatory resistance over concerns about security and reliability.

In December 2020 the Libra changed its name to Diem and moved its operations from Switzerland to the United States as part of a “strategic shift.”

https://cryptonews9ja.com/2021/08/27/facebook-could-launch-digital-wallet-this-year-report/



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Few weeks ago, we brought to you a story of how the Economic and Financial Crimes Commission EFCC invaded the office of a Portharcourt wonder Bank called Bluekey.

Ever since that invasion, the founder of this Fraudulent company Mr Suanu Neenwi has been on the run. He has only updated his investors via Telegram and WhatsApp groups, where he has been giving them false hopes without telling them the truth on ground. He has also deprived them from physical access to him.

Just recently, aggrieved investors visited the EFCC’S office for enquiry of the matter. It was then that the cat was let out of the bags and the truth exposed.

The wonder bank which operated from Sonia Plaza, located at YKC Junction in Woji Port Harcourt, flaunted it self as a forex trading company. It promised investors a whooping 10% return on investment every week. The smart promotional strategies employed to woo investors included a 10% referral bonus which many found so attractive.

Cryptonews9ja also confirmed that not less than 9,000 innocent Nigerians invested in this Fraudulent company which started in February this year.

The EFCC was able to retrieve an estimated amount of two billion naira from the company’s bank accounts which have since then been frozen as investigation has been on going. There are also indications that Mr Suanu still has in his possession a huge amount of unrecovered investors funds which is believed to be in cryptocurrency value.

Some investors when asked why they invested in a Ponzi scheme, debunked the assertion. They insisted they wouldn’t have deliberately invested in Bluekey if they knew it was a Ponzi scheme. They accused Mr Suanu of deceit and betrayal of trust. He told them he was trading forex with their funds whereas he was actually running a ponzi scheme.

Additionally, the company’s classic physical office and bank style modus operandi was enough to have convinced even the smartest of Investors.

Within the last two months of this incident, Investors, through several Bluekey Telegram and WhatsApp groups have lamented their frustrations, grievances, disappointments and untold hardship which this has caused them including the loss of some lives.

Cryptonews9ja also learnt that a lot of persons borrowed from Banks and are paying interests the hard way. Many destinies have been shattered and the situation seems not to be getting any better.

The Union of Investors which was created by investors themselves in the wake of this incident has accused Mr Suanu and his mgt of deception and betrayal. They are requesting for a refund of their capitals with immediate effect.

Bluekey Investors are hereby calling on the EFCC and other relevant government authorities to quickly come to their rescue as this is rapidly getting out of hands. Many are dying of pain, sorrow, hunger and poverty. Bank interests growing everyday and we are paying dearly for it. The lives and destinies of over 9,000 Nigerians is astatke.

Mr Suanu Neenwi should be apprehended by the Nigerian Security operatives before he elopes this country.

follow the link below to continue reading.....

https://cryptonews9ja.com/at-last-it-has-been-established-that-bluekey-is-a-ponzi-scheme/

We are LIVE at the National Campus Blockchain Hackathon Event with the theme “Promoting Blockchain Innovation for Sustainable Growth in Nigeria”, a programme in partnership with #NITDA, holding at Nile University of Nigeria, Abuja.

The day just began with the president of Blockchain Association Of Nigeria (BIAN), Mr Adeolu Fadele presenting his opening speech to participants of the events taking place at Nile University Abuja.Shortly after that the DG NITDA Kashifu Abdullahi Inuwa Inuwa arrived the venue. See images below

https://cryptonews9ja.com/live-report-campus-blockchain-development-programe-in-abuja-25-sept-2019/

Recently, the Central Bank of Nigeria in a circular to all deposit money bank (DMBs) signed by the Director, Payments System Management Department, Sam Okojere, announced the approval of additional charges on cash deposits by customers in Lagos, Ogun, Kano, Abia, Anambra, Rivers states and the Federal Capital Territory.

The circular said the CBN approved 3 per cent to be charged as processing fees on all withdrawals and 2 per cent for cash lodgments in individual accounts in excess of N500,000.

Also, the circular said withdrawals in excess of N3 million from corporate accounts would henceforth attract 5 per cent charge as processing fees and 3 per cent on lodgments in excess of N3 million.

How This Affects Cryptocurrency

Most cryptocurrency newbies and critics have greatly emphasized on the transaction fees charged by crypto wallet service companies and Exchanges as a reason why most newbies or potential crypto users will not find cryptocurrency attractive. Especially in developing countries like Nigeria.

With this new Bank Charges introduced by the Central Bank Of Nigeria, cryptocurrency transactions has now become far less expensive than cash transactions. This will attract more Nigerians to explore the potentials that lie within cryptocurrency and blockchain.

In as much as most Nigerian bank customers are not comfortable......follow link below to continue reading

https://cryptonews9ja.com/cbns-new-policy-on-bank-charges-marks-a-newdawn-for-cryptocurrency-in-nigeria/

Two Nigerians are in trouble in the United States after being indicted by prosecutors for running a fraudulent bitcoin investment scheme.

The Nigerians, Onwuemerie Ogor Gift and Kelvin Usifoh, were charged by Oregon District Attorney’s Office with 11 counts of wire fraud, as well as conspiracy to commit wire fraud and money laundering, according to a report.

From December 2017 to June 2018, Gift and Usifoh allegedly promoted the fake bitcoin investment scheme via three websites – wealthcurrency.com, boomcurrency.com and merrycurrency.com – promising investors 20–50 percent risk-free returns with instant withdrawals.

Gift and Usifoh falsely claimed that victims’ bitcoins would be invested using “unique trading methods” and that they would maintain a “constant high interest rate.” The pair also allegedly encouraged investors to transfer bitcoin to their own cryptocurrency wallets. Once transferred, Gift and Usifoh would exchange it for Nigerian naira.

In over six months, the defendants stole 10.88 bitcoins (worth approximately $56,391 at press time) from three victims, one residing..... https://cryptonews9ja.com/two-nigerians-in-trouble-in-the-united-states-over-bitcoin-scam/

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Two Nigerians are in trouble in the United States after being indicted by prosecutors for running a fraudulent bitcoin investment scheme.

The Nigerians, Onwuemerie Ogor Gift and Kelvin Usifoh, were charged by Oregon District Attorney’s Office with 11 counts of wire fraud, as well as conspiracy to commit wire fraud and money laundering, according to a report.

From December 2017 to June 2018, Gift and Usifoh allegedly promoted the fake bitcoin investment scheme via three websites – wealthcurrency.com, boomcurrency.com and merrycurrency.com – promising investors 20–50 percent risk-free returns with instant withdrawals.

Gift and Usifoh falsely claimed that victims’ bitcoins would be invested using “unique trading methods” and that they would maintain a “constant high interest rate.” The pair also allegedly encouraged investors to transfer bitcoin to their own cryptocurrency wallets. Once transferred, Gift and Usifoh would exchange it for Nigerian naira.

In over six months, the defendants stole 10.88 bitcoins (worth approximately $56,391 at press time) from three victims, one residing in Oregon and two in California, according to the indictment. They also used a photo of a fourth victim to promote their scheme.

In total, the prosecutors alleged that Gift and Usifoh received more than 50 bitcoins ($259,000) through the scam.

Largely due to their pseudonymous, online nature, cryptocurrencies are becoming increasingly popular as a means to scam investors. But law enforcement is catching up.

Last month, New York prosecutors charged a man in a nine-count indictment for duping investors out of over $200,000 in cryptocurrency and cash. And, in February, a 20-year-old man was indicted in the New York Supreme Court over SIM-swapping identity and crypto theft.

Warning cryptocurrency investors over such schemes, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission jointly issued an alert earlier this week, saying that claims such as “risk-free”, “absolutely safe” and “guaranteed profit” are hallmarks of a fraud.

Dutch crypto company Libereum has announced the acquisition of Spanish soccer club Elche CF, who are based in the province of Alicante. The move provides another sign that the crypto world’s interest in sports sponsorship and partnerships is growing.

Libereum and Elche Share Joint Vision
Libereum, a company which is “primarily aimed at making cryptocurrency widely accessible to the average person,” has put down an initial payment of €4.3 million ($4.9 million) for the Spanish club. The acquisition marks a trend in the crypto world for bringing cryptocurrency to sports with the hope that P2P cash could be adopted as a means of payment in stadiums, club shops, websites and elsewhere.

The acquisition of the club, who play in the Segunda División A (Spain’s second professional association soccer division) is part of Libereum’s plans to bring the club back up to the premier division and make their own cryptocurrency, the liber, an integral part of the club’s financial system. Blockchain Company Buys Spanish Soccer Club, Cementing Crypto-Sports Connection

“The purchase of Elche CF, a beautiful football club that shares our vision of a cryptocurrency future and is willing to actively communicate it to its supporters, is fantastic news,” Cem Kumlar, the founder of Libereum, said in a statement. “The team has been working very hard to achieve this and I would like to express my thanks to all those who have contributed to this impressive and intensive process.”

Libereum’s main objective is to invest in soccer clubs, with the goal of generating demand for its coin. The company has ambitious goals of overhauling everything from transfer deals and ticket sales to merchandising and stadium catering, aided by cryptocurrency.

Growing Relationship Between Crypto and Soccer,
Libereum is not the only company focusing on football in the hope of re-energizing the game with the aid of crypto. In August, investment platform Etoro launched partnerships with seven English Premier League soccer clubs – Brighton & Hove Albion, Cardiff City, Crystal Palace, Leicester City, Newcastle United, Southampton, and Tottenham Hotspur – paying for the deals in bitcoin core (BTC).

The landmark move made the social trading and multi-asset brokerage platform the first company to ever pay for a Premier League partnership in bitcoin. The company has since said its goal is to have the sport fully embrace blockchain technology. U.S. managing director at Etoro, Guy Hirsch, said they were “looking to integrate cryptocurrencies into mainstream football in the near future.”Blockchain Company Buys Spanish Soccer Club, Cementing Crypto-Sports Connection

He added: “Educating the masses on crypto assets will ultimately increase public participation in the market, improving the rate of adoption and providing an incentive for merchants and vendors to begin to accept cryptocurrencies as payment.”

Earlier this year, Gibraltar United decided to introduce cryptocurrency salary payments for its players, while English Premier League club Wolverhampton Wanderers started its season by announcing sponsorship from cryptocurrency exchange Coin Deal.

With the most popular sport in the world being introduced to cryptocurrencies, and NBA basketball teams following suit, it may not be long before crypto is propelled into the big league.

https://cryptonews9ja.com/blockchain-company-buys-spanish-soccer-club-cementing-crypto-sports-connection/