Tech
Crypto: Binance confirms working with Tinubu govt to block dollar-naira exchange

Published
1 year agoon
By
Ekwutos Blog“Users behaving in a manipulative way will be removed from the platform.’’
One of the World’s biggest cryptocurrency trading platform, Binance, has confirmed collaborating with President Bola Tinubu’s administration to block Nigerians from dollar-naira trade on its platform.
Binance disclosed this in an announcement on its “commitment to P2P users in Nigeria” on Tuesday, warning that “users behaving in a manipulative way will be removed from the platform.”
“As industry leaders,” Binance said, “We are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.’’
The crypto exchange platform further said it is “setting an upper limit for ads, filtering and removing bad ads, requiring and raising deposits for merchants posting ads as well as processes for actioning against any market manipulators.”
On Tuesday, Binance disabled sell option for its Nigerian users, blocking them from selling fiat currency, USDT, on the platform. It also capped the buy option to $1802 for Nigerian users.
It also disabled purchase of cryptocurrencies via P2P for its Nigerian users, leaving those who might want to sell their crypto assets such as Bitcoin, BNB, Ethereum via P2P stuck.
This comes as another desperate move by the Tinubu-led government to stem naira freefall against the dollar. The naira continues to decline even after the Economic Financial Crimes Commission raided perceived currency speculators at a popular Abuja Bureau De Change hub on Monday.
Earlier on Tuesday, the National Security Adviser, Nuhu Ribadu, directed law enforcement agencies to take firm measures against anyone engaged in foreign exchange market speculation.
“In a concerted effort to safeguard Nigeria’s foreign exchange market and combat speculative activities, the Office of the National Security Adviser and the Central Bank of Nigeria are joining forces to address challenges impacting the nation’s economic stability,” a statement issued by Mr Ribadu’s office read.
It added, “The CBN’s proactive measures to stabilise the foreign exchange market and stimulate economic activities have been commendable. However, the effectiveness of these initiatives is being undermined by the activities of speculators, both domestic and international, operating through various channels, thereby exacerbating the depreciation of the Nigerian naira and contributing to inflation and economic instability.”
The naira hit its all time low, trading for N1902 to a dollar on Tuesday before Binance blocked its Nigerian user from selling USDT on the platform.
Mr Tinubu’s government collaborating with Binance to block Nigerians from dollar-naira trading mirrors his predecessor, former President Muhammadu Buhari’s ban on cryptocurrency trading in the country in 2021. The CBN under Mr Tinubu’s watch in December 2023 lifted the ban on cryptocurrency.
Some Nigerian Binance users have criticised Binance on its latest move, threatening to migrate to other platforms for their dollar-naira trading.
An x user, @MikaelBernard, on Tuesday, dismissed Binance’s decision against Nigerian users as “absolutely ridiculous,” adding that “If this is how they plan to save the naira, I’m sorry but it’s going to fail woefully.”
“You can no longer sell your own tokens for above 1802/$. I don’t know what they aim to achieve, but traders are now on telegram, selling at 1850/$ and above. Binance was only a medium. If you block Binance, people will find new ways,” @MikaelBernard tweeted.
Another X user, MiracleOkeke said, “So, let me understand, you literally decided to put a peg or control a somewhat person to person transaction that should normally be determined by whatever price they wish? As an open market? Jokes on you, we will move to other platforms.”
With “more than half of its adult population” trading cryptocurrency “monthly,” according Binance, Nigeria ranks among countries with the largest population of crypto traders in the world.
Recent restrictions on domiciliary accounts in Nigeria by the Tinubu-led government could have also increased the number of Nigerians using the exchange to save their money or facilitate receipt of funds from abroad.
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Tech
Lucid Had Another Record Quarter Thanks To Tesla Owners Who Jumped Ship

Published
15 hours agoon
April 3, 2025By
Ekwutos Blog
The American luxury EV maker had its fifth consecutive record quarter.
- Lucid Motors delivered 3,109 cars in the first quarter.
- That’s a 28% increase year-over-year.
- A big reason for the uptick? Tesla owners.
The Lucid Air is a phenomenal machine, albeit a very expensive one. It’s the longest-range electric vehicle on sale today, with up to 512 miles on a full charge. It’s also extremely comfortable, but it costs between $70,000 and $250,000.
Despite the high price tag, the Air just helped Lucid achieve its fifth consecutive record quarter for deliveries. Thanks in no small part to Tesla owners ditching their EVs for other battery-powered cars, Lucid delivered 3,109 units in the first quarter of this year–an impressive increase of 28% over last year.
“Tesla owners always have been a source of customers for us,” said Lucid’s Interim CEO Marc Winterhoff during a Fox Business interview last week. “We saw a dramatic uptick in the last two months. Right now, 50% of all the orders that we have are from Tesla owners.”
More Lucid Stories
Compared to last year’s fourth quarter, Lucid delivered just 10 more vehicles, but a record is still a record. When it comes to manufacturing, the California-based startup built 2,213 cars at its facility in Casa Grande, Arizona, with an additional 600 units in transit to Saudi Arabia, where they will be assembled at the company’s AMP-2 facility. Compared to Q1 2024, Lucid built 28% more cars in the first quarter of this year.
Deliveries of the new Gravity SUV are yet to begin, with the first demo units scheduled to be finalized by the end of April. As a reminder, Lucid also built a handful of Gravity SUVs late last year, but that was a limited run intended for employees and company friends. In other words, although Lucid doesn’t split the delivery numbers for its two models, all the cars delivered in Q1 were likely Air sedans.
With the Gravity, Lucid is broadening its appeal to a wider audience that may not be so convinced about a luxury electric sedan. “More than 75% of our Gravity orders are from people who don’t own a Lucid,” said Winterhoff. That said, don’t expect Lucid’s first SUV to be affordable. The Gravity Grand Touring starts at $94,900–this gets you up to 450 miles of range on a full charge and seating for up to seven adults. A cheaper Touring trin, which will start from $79,900, will go on sale in late 2025.
Lucid Motors Deliveries
Period | Units Delivered |
Q4 2022 | 1,932 |
Q1 2023 | 1,406 |
Q2 2023 | 1,404 |
Q3 2023 | 1,457 |
Q4 2023 | 1,734 |
Q1 2024 | 1,967 |
Q2 2024 | 2,394 |
Q3 2024 | 2,781 |
Q4 2024 | 3,099 |
Q1 2025 | 3,109 |
Tech
Ford’s EV, Hybrid Sales Surge In Q1 Ahead Of Tariff Chaos

Published
15 hours agoon
April 3, 2025By
Ekwutos Blog
It was a record start to the year for electrified vehicles, mainly led by the Mustang Mach-E. But that could get pricier soon.
- Ford sold 73,623 electrified models in the U.S. in the first quarter, a 26% year-over-year growth.
- It was a record start to the year for hybrids, up 33% while Ford’s EVs were up 12%, mainly led by the Mustang Mach-E.
- Deliveries of the 2025 Mustang Mach-E, with improved range and more features, is imminent. But it could cost substantially more with President Trump’s 25% tariffs.
Ford sold more than half a million vehicles in the U.S. across powertrain types in the first quarter of this year.
While its overall sales sank marginally, electrified vehicles grew 26% year-over-year. Hybrids, plug-in hybrids and fully electric models now together account for 15% of Ford’s overall sales, a 3% jump over last year.
The Dearborn automaker sold 501,291 units in the first quarter, a 1.3% year-over-year drop. Gas-powered vehicles accounted for 427,668 units (85%) of the total sales, whereas fully electric models made up 22,550 units (4.4%) and hybrids totaled 51,073 units (10.1%).

2025 Mustang Mach-E Rally_04
The Mustang Mach-E outsold the gas-powered Mustang again and every single Lincoln model on sale. Ford sold 11,607 Mach-Es, a 21% increase year-over-year. By comparison, buyers drove home only 9,377 combustion-engined Mustangs, a sharp 31.6% drop.
Sales of the E-Transit electric van increased nearly 30% to 3,756 units. However, the F-150 Lightningdid not perform as well, even though the overall F-Series trucks grew by 24.5%. Only 7,187 Lightnings found homes so far this year, a 7.1% drop.
By comparison, sales of the Chevy Silverado EVgrew 125% to 2,383 units. General Motors also just launched cheaper versions of the 2026 Sierra EV, which has the potential to put the automaker at the forefront of the electric truck race in the coming months.
However, Ford’s momentum with its electrified models risks stalling as President Trump’s 25% tariffs on imported cars and auto parts went into effect on Wednesday. While most Ford cars are assembled in the U.S., all of them get over half of their parts content from overseas—mostly Mexico—according to the National Highway Traffic Safety Administration.

2025 Ford F-150 Lightning with the
A whopping 78% of the Mustang Mach-E’s parts are sourced from Mexico and the crossover is also assembled there. Even the hugely popular Bronco Sport and the Maverick are assembled across America’s southern border.
Unless the president provides American automakers with some tariff relief or trade concessions, their momentum risks getting wiped out, at least in the short term.
Have a tip? Contact the author: suvrat.kothari@insideevs.com
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Tech
Children are turning to ChatGPT over their PARENTS for life advice

Published
19 hours agoon
April 3, 2025By
Ekwutos Blog
Children are increasingly turning to online chatbots instead of their parents for answers to life’s biggest questions, the Children’s Commissioner has warned.
Dame Rachel de Souza will say in a speech today that the ‘apathy’ of many parents is causing a ‘crisis in childhood’ that is leading to many children feeling ‘disconnected’.
The Children’s Commissioner will say that artificial intelligence such as Chat GPT could end up filling knowledge gaps for children unless parents can show they will respond quicker than online chatbots.
Her comments come amid a national conversation about how the internet and social media are affecting children, which has been prompted by the hit Netflix drama Adolescence.
Today Dame Rachel will address the inaugural Festival Of Childhood alongside Education Secretary Bridget Phillipson, where she is expected to say that children just ‘want to be listened to’.

Dame Rachel de Souza, the Children’s Commissioner for England, has warned that the ‘apathy’ of many parents is causing a ‘crisis in childhood’ that is leading to many children feeling ‘disconnected’
She will warn that childhood must not be conflated with adulthood ‘because to do so abdicates us of our responsibility to making sure every child has all the things they should always have, and no child experiences the things they never should’.
Dame Rachel will say: ‘If we want children to experience the vivid technicolour of life, the joy of childhood, the innocence of youth, we have to prove that we will respond more quickly to them than Chat GPT.’
She will add: ‘Some of these foundations of childhood are cracking. A different version of childhood is playing out – one that we are struggling to be honest about. A crisis developing in childhood.
‘There is a risk of inaction, of apathy – and the antidote to this is listening. Connecting. That is why we must listen to children, to engage them on the decisions about their lives.’
The Children’s Commissioner has also carried out a new survey using her statutory powers to obtain responses from around 19,000 schools and colleges, representing almost 90 per cent of schools in England.

Dame Rachel de Souza has warned that children are increasingly turning to online chatbots instead of their parents for answers to life’s biggest questions (file photo)
The research has found that more than half – 55 per cent – of schools are worried about the online safety of their children.
The survey also found that 71 per cent of schools are concerned about children’s access to adolescent mental health services, while 46 per cent are worried about the impact of poverty on children.
Dame Rachel is also expected to set out her focus for the next 12 months, which will include looking at children’s trust in the police, harms cause by AI ‘deepfake’ technology, and the use of mobile phones in schools.
Education Secretary Bridget Phillipson said she pledged, upon entering office, that this would be a ‘child-centred government’.
She added: ‘This is exactly what we are delivering: better life chances for every child, wherever they live and whatever their background, putting their best interests at the heart of everything we do.’

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