Employees of Eatrich Farms said the company’s management once mandated them to open bank accounts in order to access loans for it. Eatrich Farms, an agrotech business, recently made news headlines, after the arrest of its six staff and investors. Information reaching EkoHotBlog has it that the staff members and investors of the company were … Read more
GTBank, Access Bank, and other commercial banks must know their customers and the businesses they do, the Central Bank of Nigeria (CBN) advised. The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs), including Access Bank and GTBank, against malpractices in the foreign exchange (Forex) market. In a letter signed by Ozoemena Nnaji, … Read more
Aliko Dangote, revered business magnate in Africa, said manufacturing made him grew gray hair. African richest man Aliko Dangote has revealed that venturing into manufacturing is a stressful exercise, such that he started having gray hair the moment commenced production. He made this known as he discussed his business with Dr. Doyin Salami, a revered … Read more
Naira has hit a all-time low against the dollar. EKOHOTBLOG reports that the naira on Thursday continued its downward spiral on the parallel market, selling for N543 to the dollar on Thursday. While bureau de change operators in Abuja bought dollar at N540, it was sold for N543. The British Pound was also sold for … Read more
BPE Boss says the agency will investigate the causes of the poor performances of moribund ventures. EkoHotBlog learnt that the federal government’s four inter-agency committees on the resuscitation of the ailing and non-performing privatised enterprise has submitted their findings to the Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh, last week. Mr. Okoh, in … Read more
The Corporate Affairs Commission (CAC) of Nigeria has commenced two new forms of business registration pursuant to CAMA, 2020. This followed the successful deployment of the Online Application for Limited Liability Partnerships (LLPs) and Limited Partnerships (LPs). EkohotBlog reports that Garba Abubakar, the Registrar General of the Commission made the announcement in a statement by … Read more
CBN has given a fresh directive to banks over forex ban. EKOHOTBLOG reports that the Central Bank of Nigeria (CBN) has ordered all commercial banks in the country to publish on their websites the names and Bank Verification Numbers (BVN) of customers who engage in fraudulent and unscrupulous practices to obtain foreign exchange from banks. … Read more
—Fixes date for 16th Annual General Meeting (AGM) The Lagos Building Investment Company Plc. (LBIC), has defied the tough operating environment in the mortgage industry and recorded profit in the year ended 2020. The cheery news was contained in a statement released by the Company and signed by the its media consultant, Kayode Jackson. The … Read more
Bitcoin, the world’s biggest and best-known cryptocurrency, is up 77.4% from the year’s low of $27,734 on January. 4. Bitcoin rose 5.01 % to $49,106.4 at 22:04 GMT on Friday, adding $2,342.1 to its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 77.4% from the year’s low of $27,734 on January. 4. … Read more
Makinde encouraged the trainees to return to Oyo State and make a difference, noting that to make the governor and the people of the state proud, they must return with the drive to achieve increased yields in different areas. Oyo State Governor, ‘Seyi Makinde, said on Friday that the state would expand the state’s Youth … Read more
The things you need to know about U.S Business Tourist Visa have been shared below. Overview The B-1/B-2 visitor visa is for people traveling to the United States temporarily for business (B-1) or for pleasure or medical treatment (B-2). Generally, the B-1 visa is for travelers consulting with business associates, attending scientific, educational, professional, or … 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
A multi-billion naira fraud has rocked a top Nigerian bank. EKOHOTBLOG reports that the Abubakar Suleiman-led Sterling Bank Plc is currently enmeshed in an N1.7 billion fraud scandal. According to a report, the fraud is said to have rattled the lender’s financial position and it has landed one of the bank’s staff and a businessman … Read more
![NBS, Nigeria’s inflation rate, [JUST IN] Again, Nigeria’s Inflation Rate Rises To 17.33%](https://ekohotblog2.com/wp-content/uploads/2020/01/Inflation.jpg)
The National Bureau of Statistics (NBS) has released Nigeria’s inflation rate for the month of July 2021. EKOHOTBLOG reports that the Consumer Price Index (CPI), which measures inflation, has dropped further to 17.38 per cent (year-on-year) in July 2021. Nigeria’s inflation rate was disclosed by the National Bureau of Statistics (NBS) via its Consumer Price … 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