E-Business
Digital Currency Group Acquires Luno, a Leading Bitcoin and Digital Asset Exchange

Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, announced the acquisition of Luno, a leading cryptocurrency exchange.

Based in London and with regional hubs in Singapore and Cape Town, Luno has grown significantly in recent years, with nearly 400 employees and more than five million global customers spanning over 40 countries.
New York-based DCG will be making a significant financial commitment to help Luno expand globally, both in geographies where Luno currently operates and beyond. Financial terms of the deal were not disclosed.
Led by co-founder and CEO Marcus Swanepoel, Luno has become a digital asset powerhouse in many emerging and frontier markets, providing digital asset education, knowledge, and investment tools for individuals in Africa, Asia, and Europe. Luno has helped broaden the global crypto investment community and the company has seen record growth of its customer base in 2020.
In Africa, the company saw more than 550,000 new users on its platform in Q2 2020 and contributes the largest share of cryptocurrency trading volume on the continent across non-P2P exchanges.
Luno is a leading exchange in several countries that have the highest percentage of cryptocurrency ownership, including South Africa (third-highest of its citizens owning digital currencies), Nigeria (fifth-highest), Indonesia (sixth-highest), and Malaysia (tenth-highest).
DCG is an investment firm that has backed more than 160 blockchain companies around the world. In addition to its venture portfolio, DCG is the parent company of several wholly-owned subsidiaries, including Grayscale Investments (the world’s largest digital currency asset manager), Genesis (a leading digital asset prime brokerage), CoinDesk (the preeminent media and events company in the industry), and the recently-launched Foundry, which provides institutional expertise, capital, and market intelligence to bitcoin miners and manufacturers. DCG first invested in Luno in its seed round in 2014.
“We are proud to have supported Luno as an early investor, and we recognize a shared commitment to building mission-driven companies that can help transform traditional financial services and improve economic freedom for people all over the world,” said DCG Founder and CEO Barry Silbert. “Luno is a high growth, global business and there is a massive opportunity to expand organically and through acquisitions.”
DCG enables its subsidiaries to operate as independent companies, providing leadership, partnership, and investment capital to help scale the businesses. The Luno leadership team will remain entirely intact and Swanepoel will lead acquisition efforts in his role as CEO.
“The past seven years have been an incredibly exciting journey for Luno – helping millions of our customers get access to crypto for the first time,” said Swanepoel. “DCG has been an integral part of the Luno story during all of this time, and we’ve been fully aligned on our vision and culture since day one.
Having the full backing of DCG just as we’re experiencing such a pivotal moment of growth in the industry is not just an exciting and important milestone for Luno, but more importantly it will significantly accelerate our ability to reach our goal to help upgrade 1 billion people to a better financial system by 2030.”
“We have been extremely impressed with Marcus and the Luno team since we made our initial investment,” added Silbert. “Marcus understands our culture and appreciates how well Luno fits into the DCG family. He is a focused, high integrity leader and exactly the kind of person we want running one of our companies at this critical moment when the crypto industry is at an inflection point.”
Founded in 2013, Luno has been backed by global tech giant the Naspers Group and Balderton Capital amongst others. During these last seven years Luno has maintained its commitment to upgrading the world to a better financial system. The company believes that the legacy system was built for a non-digital age, ignoring the needs of modern individuals and adding unnecessary inefficiencies and gatekeepers.
The world now has access to new technologies like Bitcoin and Ethereum that will fundamentally change how the world views and uses money. Like communication evolving from landlines to mobile phones, money is finally catching up with other information revolutions.
Luno maintains regional offices in Kuala Lumpur, Lagos, Jakarta, and Johannesburg, and will continue to focus on the existing geographies where it operates across Europe, Africa, and Asia. The Luno team has also developed an aggressive road map for future growth and will ultimately compete with financial services firms globally. Luno is actively hiring for positions all over the world.
E-Business
Offset Communications Slams N50m Suit against Qore Technologies for Alleged Copyright Infringement

Offset Communications Advisory Ltd has dragged Qore Technologies Ltd before a Federal High Court in Lagos, demanding the sum of N50 million as damages for the alleged infringement of its copyright.

Pic credit….https://copyrightalliance.org
Offset, in the suit marked: FHC/L/CS/1994/2025, is claiming that Qore used content from a proposal it submitted in December 2022, without formal engagement, attribution, or a licensing agreement.
“The Defendant’s execution of the content of the proposal submitted to it by the Plaintiff without any formal engagement, attribution or a licensing arrangement… amounts to an infringement of the Plaintiff’s copyright,” Offset stated in its writ of summon.
The suit filed on September 29, 2025, by Jimoh Bamigbola and Omobolaji Idris, on behalf of the plaintiff has Qore as sole defendant.
Plaintiff, a Lagos-based communications firm, in its statement of claim said it a had previously worked with Qore on Public Relations (PR) projects and was later asked to prepare a communications strategy for the company, adding that the said proposal contained ideas on employee engagement, branding, and stakeholder management.
Offset however, alleged that Qore implemented elements of the proposal, including internal communication initiatives and branding concepts, without payment or agreement.
“The Defendant executed and integrated the propositions into its Public Relations and Communication Strategy without any formal engagement… with the Plaintiff,” the statement of claim read.
The plaintiff said it discovered the alleged infringement in April 2025 and subsequently notified the defendant, but efforts to resolve the dispute failed.
It is seeking, among other reliefs, a declaration that the defendant’s actions amount to copyright infringement, N50 million in general damages, N5 million in litigation costs, 29 percent post-judgment interest, and “an order of perpetual injunction, restraining the Defendant… from further infringing on the Plaintiff’s copyright.”
Qore Technologies, however, denied the allegations in its statement of defence, arguing that the plaintiff was only engaged for limited Public Relations support services on a project basis and was paid for those services.
“The Plaintiff merely provided routine and secondary Public Relations support services… for which the Plaintiff was remunerated,” the defendant stated.
Qore further argued that the ideas referenced by the plaintiff are not protected under copyright law.
“The alleged ‘ideas’… consist of generic corporate communication practices widely used by companies… and cannot constitute original copyrightable works under Nigerian law,” it said.
The company also maintained that no binding agreement existed regarding the proposal and that its branding and communication strategies were developed internally and by its consultants.
In addition, Qore challenged the competence of the suit, stating that “the Statement of Claim discloses no reasonable cause of action” and that the court lacks jurisdiction to entertain the matter.
The defendant also filed a counterclaim, seeking N6.35 million as reimbursement for legal fees incurred in defending the suit, as well as N2 million in costs.
At the hearing on March 23, 2026, counsel to the parties identified their processes, and the court adjourned the matter to June 22, 2026, for further proceedings.
The case is expected to test the boundaries of copyright protection in Nigeria’s Communications and Public Relations industry, particularly regarding the ownership of proposals and business ideas.
E-Business
FG to Strengthen Cybersecurity Coordination as NDPC Probes Alleged Data Breach

Federal government has announced plans to deepen collaboration with private sector players and other stakeholders in a bid to strengthen Nigeria’s cybersecurity architecture and response systems.

Bosun Tijani, minister of Communications, Innovation and Digital Economy, disclosed this in a recent press statement, noting that the government is considering the establishment of a Cybersecurity Coordination Council.
According to the minister, the proposed council is aimed at enhancing national cyber resilience and ensuring a more coordinated response to emerging cyber threats across public and private institutions.
Tijani emphasised that cybersecurity must be treated as a collective responsibility involving government, industry, and civil society.
“Cybersecurity is a shared national responsibility. Protecting Nigeria’s digital economy requires strong partnerships, trusted collaboration, and collective vigilance across government, industry, and civil society,” he said.
He added that through sustained collaboration, Nigeria would strengthen its capacity to detect cyber threats early, respond effectively, and build a resilient and trusted digital ecosystem.
The minister also called for increased stakeholder participation in shaping a sustainable, partnership-driven cybersecurity framework capable of deterring cybercriminal activities and safeguarding citizens, businesses, and critical digital infrastructure.
Meanwhile, the Nigeria Data Protection Commission (NDPC) has commenced an investigation into an alleged data breach involving Remita Payment Services Ltd., Sterling Bank, and other entities.
A statement on Sunday issued by Babatunde Bamigboye, head, Legal, Enforcement & Regulations, NDPC, said in line with the Commission’s procedure, Notice of Investigation was duly served on the 1st of April, 2026.
Bamigboye said relevant parties and individuals have been providing information for the purpose of addressing the incident.
“The aim of the investigation is to ensure that data subjects are protected with appropriate technical and organisational measures.
“The investigation by NDPC covers, among others, the types of personal data involved, the nature and scope of the alleged breach, the risk to data subjects and the mitigation measures carried out where a breach is confirmed,” he explained.
Vincent Olatunji, Commission’s National Commissioner/CEO, has directed that organisations that employ digital payment systems without putting in place appropriate technical and organisational measures as mandated under the Nigeria Data Protection Act, 2023 (NDP Act), will also be examined as part of a wider effort to ensure the integrity of the ecosystem.
E-Business
Nigeria Mulls National Cybersecurity Council

Federal Government has unveiled plans to establish a National Cybersecurity Coordination Council, signaling a shift toward a more unified, intelligence-driven approach to defending the country’s rapidly expanding digital economy.

Conceived as a non-statutory, multi-stakeholder body, the proposed Council will enhance coordination, enable trusted information sharing, and guide government strategy on cybersecurity, risk management, and national response amid increasingly complex cyber threats.
The initiative, championed by Bosun Tijani, minister of communications, innovation and digital economy, is designed to bring together government institutions, private sector players and technical experts into a single collaborative platform to strengthen the country’s cyber resilience.
Tijani noted that this initiative comes in response to a wave of recent cyber incidents that have disrupted operations across key private institutions and public sector.
In recent times, Nigeria’s financial system has faced mounting cyber pressure, reflecting global trends as cybercrime is projected to cost the world over $10.5 trillion annually, according to Cybersecurity Ventures.
Analysts say these attacks are increasingly coordinated and sophisticated, prompting the government to recognise that fragmented, institution-specific approaches can no longer manage systemic cyber risks effectively.
Under the new framework, the government aims to promote a “collective defence” model, an approach widely adopted in advanced digital economies where threat intelligence is shared in real time across institutions.
The Council is expected to include chief information security officers, cybersecurity associations, the Nigerian Computer Society, global technology providers, researchers, law enforcement agencies and civil society groups, ensuring a broad-based and technically grounded response architecture.
Key priorities will include developing national threat intelligence-sharing systems, harmonised cyber defence protocols, and coordinated incident response, while strengthening capacity to close Nigeria’s cybersecurity talent gap.
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