Nigerian authorities take legal action against cryptocurrency exchange Binance, highlighting regulatory challenges in Nigeria.
Newly elected President Bassirou Diomaye Faye announced this to the nation in a televised speech this week, while also reassuring investors they were welcome in the country. The audit is one of the first policy moves announced since the 44-year-old former tax inspector’s inauguration. “The exploitation of our natural resources, which according to the constitution belong to the people, will receive particular attention from my government,” he said. “Investor rights will always be protected, as well as the interests of the state and the people,” he added. Senegal’s first offshore oil development is due to start production in mid-2024. The Sangomar oil and gas project operated by Woodside Energy WDS.AX is expected to produce about 100,000 barrels per day.