According to Lai Mohammed, 11 states covering the six geopolitical zones will benefit from the scheme based on Executive Order No. 7. The Minister of Information and Culture, Lai Mohammed, has said companies like Dangote, BUA, and Lafarge will not pay tax for constructing roads across the country. The Minister disclosed that about 794kms of … Read more
When Visa and Mastercard cut off payments to adult website Pornhub last year, concerned over reportedly lax policies to prevent minors from posting content, the site leaned into Bitcoin payments. OnlyFans, faced with a similar conundrum, chose to say so long to the adults in the room. In the process, it may have left an … Read more
US currency climbs to highest level in over nine months after Fed signals it will pare back bond-buying program. Oil prices have dropped to a 3-month low after a strengthening dollar and the resurgence of COVID-19 forced prices below $66 per barrel on Thursday. The World Health Organisation earlier disclosed that the circulation of the Delta … Read more
Over $80 million worth of digital assets has been removed from Liquid Global exchange. Kucoin has responded by blacklisting the addresses that received stolen funds. Japanese exchange Liquid has been hacked with about $80 million in digital assets moved off the platform. The exchange confirmed the security breach in a tweet that exposed the wallet … Read more
The indictment underscores that seeking to obscure virtual currency transactions in this way is a crime. Larry Harmon, the 38-year-old Ohio resident who operated darknet Bitcoin mixer Helix, has pleaded guilty to laundering an estimated $300 million. His sentencing date is yet to be announced. READ ALSO: FORMER US TREASURY CRIMINAL INVESTIGATOR HIRED BY CRYPTO … Read more
Government borrowing from the central bank rose to ₦3.31 trillion in 2017, representing an increase of ₦1.08 trillion. Buhari further borrowed ₦2.1 trillion in 2018 to take total borrowing to N5.41 trillion. A new report from the Central Bank of Nigeria (CBN) has revealed that President Muhammadu Buhari-led’s administration has borrowed a total sum of … Read more
Binance chief executive Changpeng Zhao said last month he wanted to improve relations with regulators, and said the exchange would seek their approval and establish regional headquarters. Popular Cryptocurrency exchange, Binance has announced on Wednesday the appointment a former US Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by … Read more
The local currency opened the day at ₦515 to a United States Dollar but at the Bureau De Change segment, the Naira exchanged at ₦513 to a United States Dollar, ₦705 to a British Pound and ₦600 to a single Euro. The Nigerian Naira was largely unchanged against the United States Dollar on Tuesday morning … Read more
There is a need for the Informal Business Sectors in Lagos to be more organised with the establishment of comprehensive data on their activities Lagos State has begun monitoring and mapping informal businesses and other incidental open spaces with poor organisation, using drones. A statement from the government body announced this in a statement on … Read more
Blockdata says that three main developments convinced many of the top banks to start providing crypto-related services to clients. A new report from blockchain research firm Blockdata suggests that over half of the world’s biggest banks are getting exposure in crypto and blockchain companies. READ ALSO: BREAKING: TALIBAN ENTERS AFGHAN PRESIDENTIAL PALACE AFTER GHANI FLEES … Read more
LADIPO market had been shutdown over environmental care concerns. Ladipo Auto-spare Parts Market in Mushin has been reopened for business following a directive from the Lagos State Government on Saturday. After Lagos Waste Management Authority (LAWMA) said there is substantial compliance with rules and regulations by the traders to sustain a clean and hygienic environment … Read more
The report stated that, “Topping the list is the African nation of almost 200 million people, mainly on the younger, more tech-savvy side. With most Nigerians adept at sending money and paying through their phones, almost a third of Nigerians surveyed by Statista have used or owned crypto at some point.” A top cryptocurrency exchange … Read more
An explosion has killed no fewer than five children in Borno State. EKOHOTBLOG reports that five children were killed when a disused grenade they were playing with exploded outside Ngala, Borno State, a town that shares the border with Cameroon. “The five children picked up the explosive while herding in a field outside the town … Read more
According to Olasanoye, some of the fraudulent activities in banks and other financial institutions may be because the casual workers are not professionals, well-trained, and embittered due to inadequate compensation. The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has said that eighty percent of employees of banks and other financial institutions … Read more
Nigeria’s dwindling foreign reserves amid rising demand for forex across key economic sectors continue to drag on the central bank’s ability to service Africa’s largest economy. The Nigerian Naira remained under pressure across key foreign exchange markets as forex scarcity persisted despite efforts to prop up the Naira value. The local currency was exchanged at … Read more
Private and commercial drivers in Nigeria have decried the upward review of rates of payment in obtaining driver’s licence and new number plates across the country. The Joint Task Board had last week announced that with effect from August 1, standard private number plates and commercial number plates amongst others would cost … Read more
The index usually has its figures updated at the close of every trading day in New York, the Nigerian billionaire, Dangote is said to have a net worth of $17.8bn The Latest Bloomberg Billionaires Index has ranked the President of Dangote Group, Aliko Dangote at 117 among the Global billionaires. The index is a daily … Read more
He said the Muhammadu Buhari administration cannot be blamed for the present state of the facilities as it inherited damaged refineries. Minister of State for Petroleum Resources, Timipre Sylva, has disclosed why the administration of President Muhammadu Buhari is yet to embark on selling off the refineries, admitting that the Federal Government is not the … Read more
The Hyperledger Fabric is an open-source project that acts as a foundation for developing blockchain-based products The Central Bank of Nigeria (CBN) has confirmed that it will launch its digital currency come October 1, 2021. CBN made the disclosure during a confidential webinar on Thursday where it outlined a digital currency initiative. Speaking during … Read more
…CBN said the three firms “have made reasonable progress in achieving backward integration”… The Central Bank of Nigeria (CBN) has limited the importation of sugar into the country to three companies: Dangote Sugar Refinery Plc, BUA Sugar Refinery Limited, and Golden Sugar Company, which is owned by Flour Mills of Nigeria Plc. In a statement … Read more