Bitcoin made history on Thursday by surpassing the $100,000 mark for the first time, fueled by enthusiasm following Donald Trump’s decision to appoint a cryptocurrency advocate to lead the U.S. Securities and Exchange Commission (SEC).The move has bolstered expectations that the new administration will embrace deregulation in the digital asset sector. Record-Breaking Rally The cryptocurrency … Read more
Shopping platform Temu has halted its operations in Vietnam after failing to meet a government deadline to register with the Ministry of Industry and Trade, according to state media reports on Thursday. Customs Clearance Stopped As of the missed registration deadline at the end of November, goods ordered through Temu were no longer being cleared … Read more
A Delaware court has rejected Elon Musk’s massive pay package for serving as Tesla’s CEO, despite it being approved by Tesla shareholders earlier this year. The package, valued at about $101 billion based on Tesla’s current stock price, includes 303 million stock options. Court Ruling and Shareholder Challenge Delaware Chancery Court, Chancellor Kathaleen McCormick first … Read more
Nigeria’s Gross Domestic Product (GDP) grew by 3.46% in real terms (constant price) in the third quarter (Q3) of 2024, according to the Statistician General of the Federation, Adeyemi Adeniran. This marks a 0.92 percentage point increase compared to the 2.54% growth recorded in Q3 2023. In a statement released on Monday, Adeniran also noted … Read more
The Central Bank of Nigeria (CBN) has uncovered a new fraudulent scheme involving fake SWIFT messages and has warned Nigerians and the public to be cautious of falling victim to scammers. In a statement issued on Tuesday, CBN spokesperson Hakama Sidi Ali clarified that the bank does not offer correspondent banking services for Nigerian banks … Read more
Bitcoin is nearing the $80,000 mark for the first time, fueled by President-elect Donald Trump’s positive stance on digital assets and a pro-crypto Congress. The cryptocurrency surged by 4.3% to an unprecedented $79,771 on Sunday, holding close to $79,000 by 2:05 p.m. in Singapore. Smaller cryptocurrencies like Cardano and Dogecoin also saw gains. On the … Read more
The Central Bank of Nigeria (CBN) has approved a new chairman and board of directors for Keystone Bank as part of its strategy to ensure the institution’s sustained growth. Keystone Bank confirmed the appointments in a statement on Wednesday, highlighting the CBN’s decision to name a new board chairman, five non-executive directors, and two executive … Read more
The price of Brent crude oil has dropped below $70 per barrel for the first time since December 2021, raising concerns about a global economic slowdown. This steep decline in oil prices is expected to put additional pressure on the Nigerian naira, which has recently depreciated to N1,600 per US dollar. EKO HOT BLOG gathered … Read more
The Federal Government has inaugurated a new Board of Directors for the Nigeria Sovereign Investment Authority (NSIA), entrusting them with the responsibility of guiding the nation’s economic growth and stability. During the inauguration at his office in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, urged the Board to utilize … Read more
Guaranty Trust Bank Plc has confirmed an attempt to compromise its website domain. The management of the bank made this known in a statement made available to newsmen on Thursday in Lagos. The bank said that the hacking attempt occurred on Wednesday, a day after the bank renewed its domain name, causing a temporary disruption … Read more
Interest Rate Jumps to 26.75% as Monetary Authority Tightens Policy The Monetary Policy Committee (MPC) of the Central Bank of Nigeria’s (CBN) has raised the baseline interest rate by 50 basis points to 26.75% from 26.25%. This decision was made at the end of its 296th meeting on July 22-23, 2024, attended by eleven members. … Read more
Malta Deals: Kyari Distances Himself From Dangote’s Allegation The drama between business mogul, Aliko Dangote and the Nigerian National Petroleum Company Limited, NNPCl may expose those behind the dirty deals in the country’s oil sector. Dangote, while addressing a press conference accused some people of the NNPCL of blending crude oil in the Malta, a … Read more
Can Dangote Survive The Slippery Oil Sector ? Until recently, Alhaji Aliko Dangote has always enjoyed every government in power. As a matter of fact, he enjoyed a lot of free excise duties under the immediate past administration of President Muhammadu Buhari, which did not only boost his business but also help him to monopolise … Read more
Gov. Abiodun Promises Relief For Victims Of Oba Lipede Market Inferno The Ogun State Governor; Prince Dapo Abiodun, said chop owners at the Oba Lipede International Market, Kuto, Abeokuta, who lost valuables during Saturday night’s inferno would be supported by the state government. Governor Abiodun gave the assurance when he toured the market to ascertain … Read more
Lagos Assembly Targets 1000MWatts On Electricity Bill 2024 The Lagos State House of Assembly has held a briefing on a procurement of an Electricity Bill in enabling an improved power supply to residents in the state. On Wednesday at the Assembly Complex, Ikeja, the lawmakers in a plenary said that the state government is keen … Read more
In Nigeria’s dynamic business landscape, entrepreneurship has emerged as a pathway to success for many individuals seeking to carve their own paths and create value in society. However, navigating the entrepreneurial journey in Nigeria requires more than just a good idea; it demands a diverse skill set and a keen understanding of the local market. … Read more
Tinubu hosted GAVI, a vaccine alliance, at the State House. The meeting witnessed the Nigerian president committing to ensure that Nigeria fulfills its outstanding obligations for vaccine procurement. GAVI CEO says “there is no success for GAVI without success in Nigeria”. Eko Hot Blog reports that President Bola Tinubu has called on Gavi, the Vaccine … Read more
– Lagos residents discover optimism in discount markets – The discounted prices alleviate financial burdens – The Initiative by Lagos State Government provides relief for residents Eko hot blog reports that As food prices soar and economic struggles persist, Lagosians are finding solace in the Ounje Eko initiative rolled out by the state government. EDITOR’S … Read more
Eko Hot Blog reports that the Corporate Affairs Commission (CAC) has pledged to reinforce its partnership with the Nigeria Financial Intelligence Unit (NFIU) in a concerted effort to combat illicit financing and ensure Nigeria’s exit from the Financial Action Task Force’s (FATF) grey list. Editor’s Pick: FG Begins New Expatriate Job Policy, Violators Risk N3m … Read more
Eko Hot Blog reports the First Bank of Nigeria (FBN) Holdings has appointed Femi Otedola, a billionaire businessman and investor, as the new chairman of its board of directors. The financial institution made the disclosure in a corporate filing on the Nigerian Exchange Limited (NGX), notifying investors of the new development. Rumours first emerged in … Read more