Former President Trump and Businesses Ordered to Pay $354.8 Million for Fraudulent Practices, Banned from NY Real Estate for Three Years
In a significant legal development, former President Donald Trump and his companies have been ordered to pay $354.8 million for engaging in fraudulent business practices, along with facing a three-year ban from the New York real estate business, as ruled by Judge Arthur Engoron on Friday afternoon. This decision comes on the heels of an […]
Bitcoin Surpasses $50,000 Milestone Amid US Trading Approval Optimism
Bitcoin surged above $50,000 on Tuesday for the first time in over two years, driven by investor optimism regarding US approval of expanded trading options in the cryptocurrency. The recent bullish trend in Bitcoin reflects growing expectations that US regulators will green light the creation of exchange-traded funds (ETFs), enabling broader public investment in crypto […]
Nigeria’s Inflation Hits 29.90% in January 2024 – NBS Report
Latest data from the National Bureau of Statistics (NBS) reveals that Nigeria’s headline inflation surged to 29.90% in January 2024, marking a significant increase from the December 2023 rate of 28.92%. NBS released the new figure on Thursday. “In January 2024, the headline inflation rate increased to 29.90% relative to the December 2023 headline inflation […]
CBN Implements New Regulations on FX Repatriation by International Oil Companies
The Central Bank of Nigeria (CBN) has introduced new regulations affecting international oil companies’ repatriation of foreign exchange proceeds. According to a circular dated February 14, 2024, issued by the Director of the Trade and Exchange Department, Hassan Mahmud, oil companies can now only repatriate 50% of their proceeds immediately, with the remaining 50% available […]
Elon Musk Shifts SpaceX’s Legal Home from Delaware to Texas
Tech mogul Elon Musk has announced the relocation of his rocket company SpaceX’s legal domicile from Delaware to Texas. This move follows a recent statement by Musk, indicating that Tesla shareholders would vote on a similar shift for the electric carmaker. Neuralink, Musk’s brain-chip implant venture, has also completed the legal move to Nevada. Last […]
Access Holdings Plc Names Bolaji Agbede Acting Group CEO
Following the tragic demise of former Group Chief Executive Officer, Dr. Herbert Wigwe, Access Holdings Plc has appointed Bolaji Agbede as the Acting Group Chief Executive Officer. The appointment, subject to the Central Bank of Nigeria’s approval, was confirmed by the company’s Board of Directors in a statement dated February 12, 2024. “Further to its […]
Alleged Fraud: CBN Deputy Director Testifies on $6.2M Election Observers’ Payment Request
A Deputy Director in charge of Branch Operations at the Central Bank of Nigeria, Mr. Onyeka Ogbu, told a Federal High Court in Abuja what he knows about a $6.2 million payment request for international election observers. The request, dated January 8, 2023, was reviewed and approved by Ogbu, who testified as the prosecution’s first […]
NCC Announces Resolution Of MTN-Globacom Interconnect Debt Dispute
The Nigerian Communications Commission (NCC) has announced the amicable resolution of the interconnect debt dispute between MTN Nigeria and Globacom Limited. In a statement released on Thursday by the Director of Public Affairs Department in Abuja, the NCC confirmed the resolution, which comes after a series of developments. Initially, on January 8, 2024, the […]
CBN Governor Assures Inflation Rate Will Drop Amid Market Volatility
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, addressed the ongoing concerns surrounding Nigeria’s rising inflation rate during a recent session with lawmakers in the House of Representatives. Despite the country experiencing eleven consecutive months of inflation escalation, reaching a peak in December 2023 with a surge to 28.92% from November’s […]
Yandex: ‘Russia’s Google’ Owner Withdraws From Home Country
The owner of Yandex, often dubbed “Russia’s Google,” has announced its decision to exit its home country. The Dutch-based parent company has successfully sold its Russian operation for 475 billion roubles ($5.2 billion; £4.2 billion), a figure significantly below its estimated market value. Consequently, Yandex’s Russian business has transitioned into a fully Russian-owned entity through […]
