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Luno Begins Crypto Staking Service in Nigeria

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By Adedapo Adesanya

Cryptocurrency platform founded in Africa, Luno, has launched crypto staking in Nigeria, becoming the first operational crypto platform in the country to offer this feature.

According to a statement, the move opens up a new frontier in passive income for Nigerian users, who can now earn up to 18 per cent annually on select digital assets, directly within the Luno app.

The feature debuts with four leading proof-of-stake assets: Cosmos (ATOM), Solana (SOL), Polkadot (DOT) and NEAR Protocol (NEAR).

With these, users can begin earning rewards by simply holding their assets, without trading or taking on additional exposure. Rewards are paid out regularly, and staked assets remain accessible at all times, with no minimum amounts required and no fixed lock-up periods or hidden fees.

Luno noted that as demand grows for more stable, passive income options in the Nigerian crypto space, users have typically faced limited, often risky choices – relying on offshore platforms.

So with Luno’s introduction of a high-yield staking option, it seeks to respond directly to this gap by offering a first-of-its-kind, locally available, and compliance-led solution.

Too woo users, for the first three months, significant platform fees will be waived, increasing the rewards customers receive.

Speaking about the launch, Mr Ayotunde Alabi, CEO of Luno Nigeria said, “It has become evident over time that Nigerians are increasingly looking beyond trading to build long-term value with digital assets.

“We’ve evolved beyond the era of speculation and hoping a reward is earned. People are seeking informed, safe, and equally rewarding alternatives, and staking offers that path. It represents a new phase of crypto adoption, one rooted in sustainability and utility.

“Our aim is to support this shift with tools that are easy to use, transparent, and aligned with real financial goals, all while maintaining our high standards of safety and compliance as a licensed operator.”

The launch in Nigeria follows Luno’s earlier rollouts in South Africa and Malaysia, where it has seen strong adoption. In South Africa alone, over 150,000 customers have opened staking wallets, with more than R1.5 billion worth of crypto assets staked via the platform, further signalling the growing appetite for passive crypto products in regulated environments.

Luno added that the exchange’s model is designed to lower barriers for participation while maintaining full transparency.

“Customers retain full control over their assets, can unstake at any time, and begin earning with as little or as much crypto as they choose,” it said in a statement announcing the development on Wednesday.

This latest addition reinforces Luno’s commitment to expanding secure and practical financial tools for everyday users across Africa, while continuing to lead the way in responsible innovation within the crypto industry.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Lagos Police Investigates Ammunition Package Delivery to First Bank MD

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Oluwasegun Alebiosu First Bank MD

By Adedapo Adesanya

The Lagos State Police Command is investigating the delivery of a parcel containing live ammunition delivered to the managing director of First Bank Nigeria, Mr Oluwasegun Alebiosu.

The Commissioner of Police, Lagos State command, Mr Tijani Fatai, confirmed the incident on Tuesday during a press briefing at the command headquarters.

He said Mr Alebiosu reported the case on May 7, noting that two rounds of 7.62mm live ammunition were sent to him through a parcel.

“The managing director reported the matter to the police after a package containing two rounds of 7.62mm live ammunition was delivered on his behalf by his security guard at his residence. The case is still under investigation, and we are treating it with the seriousness it deserves,” he said.

According to him, the parcel was first received by the bank chief’s security guard, who then handed it over to him.

The police commissioner said that operatives have launched an investigation, including forensic analysis and intelligence work, to identify the perpetrators and the circumstances of the incident.

He added that no suspect linked to the crime has been brought into custody.

“Presently, no suspect is in custody. Even though the MD has mentioned some people whom he suspected of being the brains behind it, that is his suspicion, anyway. We are still working on it,” he said.

Mr Fatai noted that detectives are reviewing information provided by the complainant, including details of individuals who may have relevant knowledge of the incident.

He assured the public that the command would keep them informed as the investigations go on, adding that the public should allow the police to carry out their duties.

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Makinde Imposes 16-Hour Curfew in 10 Oyo Local Councils Over Insecurity

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By Adedapo Adesanya

The Governor of Oyo State, Mr Seyi Makinde, has approved the declaration of a 16-hour curfew in 10 local government areas of the state, as part of measures targeted at tackling insecurity.

According to a memo issued by the Secretary to the State Government, Mr Musibau Babatunde, the curfew takes effect from Wednesday, June 24, 2026.

The movement restriction, between 4 pm and 8 am, lasts for 48 hours in the first instance and affects local government areas bordering the Old Oyo National Park.

The affected local councils are Oriire local government (Headquarters: Ikoyi-Ile), Orelope (Headquarters: Igboho), Irepo (Headquarters: Kisi), Saki West (Headquarters: Saki), Saki East (Hq Ago-Amodu), Atisbo (Headquarters: Tede / Ago-Are), Itesiwaju (Headquarters: Otu), Iseyin (Headquarters: Iseyin), Olorunsogo (Headquarters: Igbeti), and Atiba (Headquarters: Offa-Meta, Oyo).

The development followed a series of protests that rocked the state over the abduction of children and teachers in the Orire Local Government Area in May.

The National Coordinator of the movement, Mr Juwon Sanyaolu, who spoke during the latest protest held on Monday, said the demonstration was part of ongoing efforts by the group to push for the freedom of the victims.

According to him, the protest “is a continuation of actions the organisation has embarked upon since the abduction of children and teachers” in the Orire Local Government Area of Oyo State in May.”

“We will continue to protest for the release of all abducted victims until they are free. We believe that government officials are in the comfort of their rooms and offices while innocent 46 students and their teachers are languishing in the kidnappers’ den.

“We are demanding freedom for all captives in the North, South, West, and East of Nigeria,” Mr Sanyaolu said.

He also criticised political leaders for focusing on preparations for the 2027 elections while insecurity continues to threaten the lives of Nigerians.

“We will not be sitting until 2027. By that time, we won’t even know how many will be alive.

“So that is why we are at the heart of Ibadan in Oyo State, where the abduction took place. The state and federal governments must act, or they will continue to witness mass action,” he added.

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Alleged Wiretapping: El-Rufai to File No-Case Submission as DSS Closes Case

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By Adedapo Adesanya

The Department of State Services (DSS) has closed its case against former Kaduna State Governor, Mr Nasir El-Rufai, in the ongoing alleged wiretapping trial before the Federal High Court in Abuja.

At the resumed sitting on Tuesday, prosecuting counsel, Mr Oluwole Aladedoye, informed the court that the prosecution would not be calling further witnesses in the matter, prompting the formal closure of the DSS case.

Following the development, defence counsel, Mr Paul Erokoro, told the court that the defence intends to file a no-case submission, arguing that the prosecution has failed to establish sufficient evidence against the former governor.

The defence subsequently sought two weeks to file the application, while the prosecution requested two weeks to respond.

The defence also applied for a variation of some of the bail conditions earlier granted to El-Rufai, describing them as stringent and difficult to meet.

They argued that the bail terms were too stringent, particularly the requirements for level 17 civil servants with properties in Maitama or Asokoro, as well as verification and attestation letters from the Kaduna state traditional council.

However, the prosecution opposed the request, insisting that qualified public officers who meet the conditions exist and urging the court to refuse the application.

Delivering the ruling, Justice Joyce Abdulmalik declined the request to vary the bail conditions, ruling that there are civil servants who own properties at the said location.

The court, however, adjourned to September 22 for the filing of the no-case submission and continuation of the trial.

In February, the federal government filed a three-count charge against the former governor of Kaduna State over an alleged interception of communications belonging to Nigeria’s National Security Adviser (NSA), Mr Nuhu Ribadu.

In a television interview, he confessed that he and other unnamed individuals listened to conversations from Mr Ribadu’s phone after it was tapped by a third party. While acknowledging that such interception is technically unlawful, he argued that illegal surveillance was not unusual.

However, the FG, through the secret police, filed charges against Mr El-Rufai at the Federal High Court in Abuja.

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