Nigeria News (Standard)
Senate Passes Bill to Regulate Cryptocurrency, Seeks Stronger Investor Protection Nationwide
Upper chamber moves to establish legal framework for digital assets amid rising crypto adoption and reports of investor losses
Upper chamber moves to establish legal framework for digital assets amid rising crypto adoption and reports of investor losses
The Senate on Thursday passed a bill aimed at regulating cryptocurrency activities across Nigeria, marking a significant step towards safeguarding investors in the rapidly growing digital asset market. The decision was reached during plenary in Abuja, following debates on the urgent need for statutory oversight as more Nigerians turn to cryptocurrencies.
Lawmakers adopted the bill after its third reading, signalling National Assembly’s resolve to address mounting concerns over fraud, volatile trading platforms, and the absence of clear rules for both users and operators. The proposed legislation mandates regulatory authorities to oversee cryptocurrency transactions, enforce anti-money laundering measures, and provide mechanisms for investor compensation in cases of confirmed malpractice.
With Nigeria ranking among the top countries for cryptocurrency adoption globally, stakeholders have repeatedly called for stronger regulation. Many young Nigerians use digital currencies as a hedge against naira depreciation and limited access to traditional banking services. However, recent incidents involving failed exchanges and alleged scams have left thousands out of pocket, prompting renewed pressure on government to act.
Senate President Godswill Akpabio said the bill’s passage was necessary to restore public confidence in the sector. “We cannot ignore the reality that millions of Nigerians are exposed to risks without adequate protection,” Akpabio stated from the Senate floor. He added that collaboration with financial regulators would be key to effective implementation. There was no immediate reaction from opposition parties or industry groups at press time.
The bill will now be transmitted to the House of Representatives for concurrence before it can proceed to President Bola Tinubu for assent. If signed into law, Nigeria will join other African countries formalising rules for digital assets—a move expected to influence fintech innovation while deterring criminal misuse.
Nigeria News (Standard)
Lagos Firm Launches Training to Boost Creative Sector with Equipment Access, Business Skills
Rewind Associates targets filmmakers and content creators at Lagos masterclass, stressing need for professional tools and mentorship
Rewind Associates targets filmmakers and content creators at Lagos masterclass, stressing need for professional tools and mentorship
Rewind Associates Limited has launched a new initiative aimed at strengthening Nigeria’s creative industry by providing filmmakers, cinematographers and content creators in Lagos with greater access to professional equipment and business knowledge. The announcement was made at the maiden edition of The Business of Cinematography and Content Creation Masterclass, which concluded recently in Lagos.
The three-day training programme brought together both emerging and established creatives for hands-on workshops, mentorship sessions, and networking opportunities. Participants received practical instruction on the use of camera systems, lenses, lighting setups, equipment management, as well as guidance on storytelling techniques and strategies for building sustainable creative businesses. Sessions also focused on the business aspects of content creation, including pricing models, client management and how to navigate Nigeria’s fast-growing creative economy.
Organisers said the masterclass was designed in response to industry challenges such as limited access to high-quality production equipment and a gap in business knowledge among many creative professionals. Speaking at the event, representatives of Rewind Associates noted that equipping practitioners with both technical skills and business acumen is critical for the sector’s growth. “Supporting creatives through mentorship, capacity building, and making essential tools available will help drive innovation and competitiveness within Nigeria’s creative sector,” one facilitator said during a workshop session.
Industry observers say improved access to modern production tools remains a major obstacle for Nigerian filmmakers and content producers seeking to compete regionally and globally. The firm added that ongoing training programmes like this masterclass are vital for nurturing talent across the country.
With Nigeria’s creative economy projected to expand further as demand for original content grows across Africa, Rewind Associates stated that it will continue to develop similar initiatives targeting other regions. Stakeholders expect that such efforts will contribute to job creation and help position Nigeria as a leading hub for film and digital content production.
Nigeria News (Standard)
Ocheme Secures Knockout Victory as Adeshina Suffers Defeat at PFL Africa Warri Showdown
Historic mixed martial arts event in Delta State sees local fighters deliver dramatic finishes and mark new milestone for Nigerian combat sports
Historic mixed martial arts event in Delta State sees local fighters deliver dramatic finishes and mark new milestone for Nigerian combat sports
A night of high drama unfolded in Warri, Delta State on Sunday as Ocheme delivered a stunning knockout victory while Adeshina was defeated in a landmark evening for Professional Fighters League (PFL) Africa. The event, which drew significant attention to the burgeoning mixed martial arts scene in Nigeria, showcased both triumph and heartbreak for homegrown talent.
The main card featured Ocheme’s emphatic finish that sent the crowd into wild celebration, underscoring the growing profile of Nigerian fighters on the continental stage. In contrast, Adeshina’s defeat came after a hard-fought contest, highlighting the fierce level of competition at this historic event. Both bouts headlined a packed schedule that saw athletes from across Africa vie for supremacy and recognition.
PFL Africa’s decision to bring its showcase to Warri marks a significant milestone for combat sports in Nigeria, reflecting increased investment and fan interest across the South-South region. The league’s expansion into Africa is seen as an opportunity for local athletes to compete at the highest levels without leaving the continent.
Organisers described the Warri event as a breakthrough moment for sports development in Delta State. Officials expressed optimism that such high-profile competitions would attract more youth participation and inspire future champions. However, some observers noted the need for sustained support from government and private sector stakeholders to ensure continued growth of the sport.
With PFL Africa promising more events across major Nigerian cities, attention now shifts to how local fighters will build on these performances. The success of Ocheme’s knockout win is expected to inspire aspiring athletes nationwide, while Adeshina’s experience serves as a reminder of the challenges ahead in elite-level competition.
Nigeria News (Standard)
Abdulsalami Abubakar Explains Why He Transferred Power to Civilian Government in Less Than One Year
Former Head of State says Nigeria needed stability after years of military rule; transition paved way for Fourth Republic
Former Head of State says Nigeria needed stability after years of military rule; transition paved way for Fourth Republic
Former Head of State, General Abdulsalami Abubakar (rtd), has disclosed the reason behind his decision to hand over power to a democratically-elected government within just eleven months in office. Speaking in Abuja on Sunday, Abdulsalami said his main motivation was to restore stability and set Nigeria on the path of democracy after prolonged military rule.
Abdulsalami, who took office following the death of General Sani Abacha in June 1998, oversaw a rapid transition process that culminated in the swearing-in of President Olusegun Obasanjo on 29 May 1999. The former leader explained that Nigeria was at a crossroads at the time, and there was urgent need to end military intervention in governance.
He noted that Nigerians had become weary of repeated coups and instability, and that confidence in the country’s leadership had eroded. “I realised that the nation needed healing and a sense of direction. We had spent too long under military regimes, and it was clear that only a return to civilian rule would restore hope,” Abdulsalami said during an interactive session.
The retired general added that his administration’s swift timetable for elections was deliberate, as he wanted to avoid any suspicion or accusations of self-perpetuation. He emphasised that he did not want to be seen as clinging to power or derailing the country’s democratic aspirations. Abdulsalami’s move marked the beginning of Nigeria’s Fourth Republic and brought an end to over fifteen years of successive military administrations.
Political observers credit Abdulsalami’s decision with setting a precedent for peaceful transitions in Nigeria’s recent history. The restoration of democracy in 1999 paved the way for continuous civilian governance, with subsequent elections held every four years.
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