Economy
Paxful Introduces New Feature for Safer Bitcoin Marketplace
By Modupe Gbadeyanka
As part of its determination to make the Bitcoin space safer for its customers, Paxful, a peer-to-peer Bitcoin marketplace, has announced teaming up with a digital identity and address verification company known as Jumio.
This is to improve Anti-Money Laundering (AML) procedures and implement Know Your Customer (KYC) requirements onto the marketplace.
Jumio’s AI-powered Trusted Identity Service and verification process will help minimize risk and ensure all users have submitted proper documentation.
Jumio’s end-to-end identity verification and authentication technologies will be used to fight fraud and maintain compliance when onboarding users in order to continue to enrich the community that already exist on the Paxful platform.
By adding Jumio’s ID verification to the platform, Paxful has taken a stance to improve its AML procedures and compliance program in every operating country.
Paxful is constantly improving to protect honest customers in the marketplace. The company boasts a growing community of consumers in Africa; and their feedback has been vitally important in advancing security and compliance on its peer-to-peer marketplace.
Through Jumio’s AI-powered Trusted Identity Service, Paxful will now be able to verify customers’ real-world identities, with a simple ID scan and real-time biometric authentication and liveness detection which will go into full effect in April.
Paxful will now require users around the world who reach an equivalent of $1,500 in trade volume or wallet activity to verify their accounts through ID verification.
In addition, users who reach $10,000 in trade volume or wallet activity must provide ID verification as well as address verification.
Paxful has also invested in the new Compliance and Information Security team. They have hired Lana Schwartzman as Chief Compliance Officer. Lana has 14 years of experience in compliance and anti-money laundering and prior to coming on as CCO at Paxful, she was a manager in the Regulatory and Compliance Risk Group at Grant Thornton LLP. Her compliance experience included working in Deutsche Bank and Morgan Stanley. She will be enhancing the current compliance program and growing the existing compliance team to better serve the needs of Paxful’s customer base.
In addition to Lana, Dmitry Moiseev also joined the Paxful team as Information Security Manager. Dmitry has over 12 years of experience in Information Security and is an expert in high-risk personal data security in the financial sector. Prior to joining Paxful, he was an Information and Security Manager at Western Union.
“We take compliance and security very seriously here at Paxful. We’re hoping that these and other upcoming changes will help our customers understand the importance of regulation and compliance when it comes to operating on a peer-to-peer finance marketplace,” said Lana Schwartzman, Chief Compliance Officer at Paxful. “Paxful now reaches over 2 million people worldwide through our P2P trading platform. When operating at such great numbers dedication to strong security measures that align with a future goal of enhanced oversight and compliance, will provide a better customer experience by affording a greater degree of trust and transparency for all customers”.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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