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    Two Senior Executives at Binance Detained in Nigeria

    Two senior executives at Binance, the world’s largest exchange have been detained in Nigeria, per a Financial Times report. Citing people familiar with the matter, the report says the executives flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites last week. However, they have been detained by the office of Nigeria’s national security adviser and their passports have been seized. Additionally, we can confirm that the Binance peer-to-peer (P2P) marketplace has been deactivated in Nigeria. Also, the NGN trading pair on the world’s largest exchange has been disabled. Recall that yesterday, we reported that the Central…

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    Data Subscriptions marginally to 220.71 million

    Based on new industry data from the Nigerian Communications Commission (NCC), Nigeria’s active mobile subscriptions decreased marginally by 0.07% to 220.71 million in August 2023 compared with 220.86 million in July 2023. This indicates that the country’s mobile subscriptions decreased by 145,026 in August. This decline follows a modest uptick in July following four consecutive declines; 0.5% in June, 1% in May and April, and 0.4% in March. A 335,744 decrease in the number of MTN subscribers, the largest operator by subscriber number, dragged down the overall industry numbers. This brought MTN’s total active subscriptions down to 85 million from…