Business
UK Clamps Down On Cryptocurrency Sector
Britain’s financial regulator on Thursday tightened rules over the promotion and selling of cryptocurrency as it seeks to protect consumers.
The Financial Conduct Authority unveiled a package of measures for the industry, which has long faced criticism over the lack of oversight — and promises of high returns in a volatile marketplace.
Under the new rules, companies promoting crypto products or services in Britain must from October give a “clear warning” that customers could lose money in “high-risk” investments.
READ ALSO: US Accuses World’s Largest Crypto Platform, Binance Of Illegal Operations
Marketing firms must also introduce a cooling-off period for first-time crypto investors.
FG put MDAs’ payments on hold
And the watchdog will also ban “refer a friend” bonuses that are designed to incentivise crypto investing.
“Our rules give people the time and the right risk warnings to make an informed choice,” said Sheldon Mills, head of consumers and competition at the FCA.
The announcement comes after Britain introduced legislation earlier this year to bring crypto promotions under the scope of the FCA.
READ ALSO: US Accuses World’s Largest Crypto Platform, Binance Of Illegal Operations
UK lawmakers are also demanding that crypto investments in Britain be regulated, in much the same way as the country’s gambling industry.
Reacting to the FCA announcement, the director of operations at industry group CryptoUK, Su Carpenter, said the new rules could prevent fresh entrants.
“There is a risk that this solution will both unfairly concentrate market power for those firms which are already authorised and potentially encourage unauthorised firms to operate from outside of the UK,” Carpenter said.
That could, in turn, create “a competitive disadvantage for UK-based organisations and also potentially undermining consumer safeguards”, she added in a statement.
The FCA clampdown follows moves toward tighter regulation in the United States.
READ ALSO: Bitcoin Slumps Below $23,000 In Crypto Crash
The Securities and Exchange Commission on Tuesday sued crypto platform Coinbase, charging that the largest US digital currency trading platform made billions of dollars by “unlawfully facilitating the buying and selling of crypto asset securities”.
The SEC has this week also unveiled charges against Coinbase peer Binance and its founder Changpeng Zhao for numerous alleged securities law violations.
The news follows the spectacular failure of crypto exchange giant FTX in November, stoking concern over a market dubbed by some critics as the “Wild West”.
AFP
Business
Naira Records Massive Appreciation Against US Dollar Into Christmas Holidays
The Naira gained massively against the United States dollar in the last three days at the official foreign exchange as trading ended for the Christmas holidays.
Central Bank of Nigeria data showed that the Naira strengthened further on Wednesday to N1,443.37 per dollar, up from N1,449.99 on Tuesday.
This means that since Monday this week, the Naira has recorded a significant N13.18 gain against the dollar, according to the apex bank data.
READ ALSO:Naira Records Depreciation Against US Dollar Across Official, Black Markets
Similarly, at the black market, the Naira traded on Wednesday at N1,490 per dollar, an appreciation from the N1,500 exchanged on Monday but the same rate as on Tuesday.
The uptrend comes amid the rise in the country’s external reserves to $45.24 as of December 23rd, 2025.
DAILY POST reports that the Naira gained against the dollar at the official market on Monday and Tuesday.
Business
Report Any MRS Filling Stations Selling Fuel Above N739 Per Liter — Dangote Refinery To Nigerians
Dangote Refinery has urged Nigerians to report any MRS filling station outlets nationwide selling fuel above the N739 per liter announced price.
The company disclosed this in a statement on Sunday.
The refinery insisted that its petrol being at retail outlets remain N739 per liter while the gantry price is N699.
It further called on other filling station owners to patronize its refined petroleum products at the N699 rate.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market.”
READ ALSO:Dangote Sugar Announces South New CEO
Recall that Aliko Dangote, the president of Dangote Refinery, had pegged the retail price of his petrol at a maximum of N740.
DAILY POST reports that MRS filling and other filling stations had reduced fuel prices to between N739 and N912 per liter in Abuja.
However, reports emerged that some MRS filling stations were selling above the N739 per liter announced price benchmark.
Business
Naira Records Significant Appreciation Against US Dollar
The Naira recorded significant appreciation against the United States dollar on Monday at the official foreign exchange market to begin the week ahead of Yuletide on a good note.
The Central Bank of Nigeria’s data showed that the Naira strengthened to N1,456.56 per dollar on Monday, up from N1,464.49 traded on Friday last week, 19th December 2025.
This means that the Naira gained N7.93 against the dollar when compared with the N1,464.49 was exchanged as of Friday, December 19, 2025. DAILY POST reports that Monday’s gain at the official FX market is the first since December 15th.
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Meanwhile, at the black market, the Naira remained stable at N1500 per dollar on Monday, according to multiple Bureau De Change operators in Wuse Zone 4, Abuja.
The development comes as the country’s external reserves stood at $44.66 billion as of last week Friday.
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