E-Financial
Tapswap Halts Token Allocation to Users Indefinitely

Tapswap, a widely used tap-to-earn program on the TON Blockchain, has indefinitely suspended its token distribution to users.
The decision, announced by John Robbin, Tapswap’s head of Communications, in a space held on X, aims to find the best way to compensate users participating in the platform.
Launched on February 15, 2024, Tapswap has attracted over 50 million users globally, including many in Nigeria, who tap their phone screens to earn tokens through the Telegram Tapswap bot.
“The token launch was postponed until July 1. The new date will be communicated,” Robbin stated, underscoring the platform’s commitment to retaining its user base.
“We will allocate a significant part of the tokens to the community to retain the tappers. We want you all to be part of the Tapswap community.”
Robbin emphasised the importance of a fair token airdrop, saying, “We need a token airdrop to be a win-win for all of us. We have started communicating with many exchanges and platforms.”
He also addressed concerns about system abuse, warning that, “Anybody abusing the system to farm taps and manipulate the game will be banned,” and asked genuine users to be patient while community members conduct background checks.”
On the mining process, Robbin explained, “Just open the app and tap on it; that will give you shares. The more you tap and the more upgrades you do, the more shares you will have when we finalize the tokens on it. The more tokens you want to have, the more tapping you have to do.”
The recently concluded booster option, which allowed users to boost their earnings, was also discussed. “We have grown exponentially faster than we thought, and to develop the game plan further, we introduced a paid feature to make their capital, but it was not mandated on the users,” Robbin noted.
The limited x2 donation feature, designed to help new users compete with earlier adopters, is now discontinued. “It was a platform that allowed people who joined recently to compete with people who started earlier. It is gone for now, but we are looking forward to using the money we earned from it to improve the game in the future,” he added.
Robbin assured users of the app’s longevity, stating, “It is all going to our 25 staffers working around the clock to sustain the app. We want to be here for a very long time.”
E-Financial
CBN Reaffirms Banking Sector Resilience as Forbearance Ends

The Central Bank of Nigeria (CBN) has reaffirmed the resilience and soundness of the Nigerian banking sector while unveiling a set of targeted transitional measures affecting a select number of financial institutions.
These measures represent the final phase in winding down the temporary regulatory accommodations introduced in the aftermath of the COVID-19 pandemic, and are intended to consolidate the gains achieved during that period of exceptional support.
The measures, announced in a circular signed by Hakama Sidi Ali, acting director of Corporate Communications, are not broad-based but instead apply to a limited group of banks. They include temporary restrictions on actions such as the payment of dividends and the disbursement of bonuses to executive management.
According to the CBN, these restrictions are meant to conserve internal capital, strengthen capital adequacy, and bolster long-term institutional resilience. The banks affected have been formally notified and are currently under enhanced regulatory engagement and close supervisory monitoring.
The regulatory move forms part of the CBN’s sequenced and structured implementation of the banking sector recapitalisation programme, which was formally introduced in 2023.
The programme is designed to align the banking sector with Nigeria’s broader economic development goals and ensure banks remain well-capitalised in line with the evolving demands of a growing economy. The majority of Nigerian banks have either met or are firmly on track to meet the new capital thresholds ahead of the March 31, 2026 deadline set by the apex bank.
To support this transition, the CBN said it is providing narrowly defined allowances within its capital framework, ensuring flexibility without compromising prudential standards. These provisions are fully aligned with global best practices and reflect the CBN’s commitment to maintaining a forward-looking, risk-based regulatory environment.
In fact, Nigeria’s Risk-Based Capital requirements already exceed the minimum benchmarks set by the Basel III framework, highlighting the regulator’s proactive posture in safeguarding the financial system.
The central bank stressed that these actions are entirely routine within the broader framework of supervisory oversight and reflect international standards.
Emphasising its ongoing commitment to transparency and collaboration, the CBN reaffirmed that it will continue to engage stakeholders across the financial industry through established platforms including the Bankers’ Committee, the Body of Bank CEOs, and other relevant industry groups.
The engagement is expected to ensure that regulatory changes are well-understood, predictable, and effectively implemented with industry input.
The CBN restates that Nigeria’s banking system remains fundamentally strong, stable, and well-capitalised. The transitional guidelines announced do not signal distress within the system but are instead part of a broader, methodical reform process aimed at future-proofing the sector.
The apex bank underscored that these steps are designed to ensure that the banking industry remains a solid foundation for inclusive, sustained economic growth and national development.
E-Financial
SEC Working on Stablecoin Regulation Framework

Securities and Exchange Commission (SEC) is working with developers to establish a regulatory framework for stablecoins, according to Dr. Emomotimi Agama, director-general, SEC.
Agama made this announcement during his keynote speech at the 2025 Decentralized Finance (DeFi) Conference.
Agama said the SEC’s commitment is to foster a responsible decentralized finance environment.
“The commission believes responsible DeFi can thrive in a regulated environment,” he said, highlighting the SEC’s efforts to enhance investor education through its “Crypto Smart, Nigeria Strong” initiative.
The program aims to educate young investors across schools, universities, and social media on blockchain basics, scam detection, and long-term investing benefits.
The SEC is also focusing on regulatory evolution, with plans to streamline its licensing regime.
“We are enhancing our licensing architecture to make it more efficient, more transparent, and more risk-based,” Agama noted.
The commission is exploring a framework for naira-pegged stablecoins, backed by verifiable reserves and audited by independent custodians, to facilitate cross-border trade and programmable finance.
It is also reviewing pathways for digital asset Exchange Traded Funds (ETFs), custodial wallets for pension funds, and tokenized securities for institutional investors.
E-Financial
CBN Issues Transitional Guidance, Says Banks are Healthy

Central Bank of Nigeria (CBN) has introduced time-bound measures for a small number of banks still completing their transition from the temporary regulatory support provided.
The CBN stated yesterday that this step is a response to the economic impact of the COVID-19 pandemic.
This step, the CBN said, is part of its broader, sequenced strategy to implement the recapitalisation programme announced in 2023.
CBN disclosed that the programme, which aligns with Nigeria’s long-term growth ambitions, has already led to significant capital inflows and balance sheet strengthening across the sector.
It said most banks have either completed or are on track to meet the new capital requirements well before the final implementation deadline of March 31, 2026.
It added that the measures announced apply only to a limited number of banks saying that these include temporary restrictions on capital distributions, such as dividends and bonuses, to support the retention of internally generated funds and bolster capital adequacy.
A statement by Mrs Hakama Sidi Ali, acting director, Corporate Communication of the apex bank, explained that all the affected banks have been formally notified and remain under close supervisory engagement.
“To support a smooth transition, the CBN has allowed limited, time-bound flexibility within the capital framework, consistent with international regulatory norms. Nigeria generally maintains Risk-Based Capital requirements that are significantly more stringent than the global Basel III minimums.
“These adjustments reflect a well-established supervisory process consistent with global norms. Regulators in the U.S., Europe, and other major markets have implemented similar transitional measures as part of post-crisis reform efforts,” the bank stated.
It further added that it remains fully committed to continuous engagement with stakeholders throughout this period via the Bankers’ Committee, the Body of Bank CEOs, and other industry forums.
The goal is to ensure a transparent, predictable, and collaborative regulatory environment.
It assured that Nigeria’s banking sector remains fundamentally strong, explaining that the new measures are neither unusual nor cause for concern; they are a continuation of the orderly and deliberate implementation of reforms already underway.
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