Muhammadu Sanusi II: Nigeria Wasting Millions Of Dollars Through Subsidy Scam
The former Emir of Kano, Muhammadu Sanusi II, yesterday identified corruption, poor leadership and wrong-headed policies as the bane of Nigeria, citing the regime of paying subsidy on petroleum products as part of the corrupt practice that may bring the country to its knees. Speaking on Arise News Channel, the former governor of the Central Bank […]
MTN, Airtel, Are Preparing For 5G Deployment
MTN Nigeria and Airtel Nigeria are expected to be the first two telecom operators to install the Fifth Generation, 5G network in Nigeria by January 2022, according to reports. Prof. Umar Dambatta, Executive Vice Chairman of the Nigerian Communications Commission, NCC, revealed this yesterday at the Nigeria e-Government Summit in Lagos, where he elaborated on […]
AfDB: Nigeria, Egypt, S/Africa Account For 80% Of Africa’s Investment Market In 10 Years
Nigeria, Egypt and South Africa dominate 80 percent of Africa’s portfolio investment market in the last decade and also account for about a 3rd of the incubators and accelerators. The three nations ranked top three countries on the continent in terms of attracting federal direct investment (FDI) over the past decade. Egypt attracted FDI of […]
China Bans All Crypto-Related Transactions
China’s central bank said all cryptocurrency-related transactions are illegal and must be banned, sending the strongest signal yet on its determination to crack down on the industry. All cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market, the People’s Bank of China said on its website. All crypto-related […]
NNPC Says Global Gas Crisis May Push Oil Prices $10 Higher In Three Months
The Nigerian National Petroleum Corporation (NNPC) on Wednesday said the global natural gas crisis, which has resulted in rising prices, could push up oil prices by as much as $10 a barrel over the next three to six months. Wholesale gas prices have surged by 250 per cent since the beginning of the year, including […]
Five Top Banks Pay N1.4bn For Forex Infractions To Monetary Regulatory Bodies
Five top banks in Nigeria paid an aggregate of N1.4bn as penalties to monetary administrative bodies like the Central Bank of Nigeria, Security Exchange Council, and Financial Reporting Council of Nigeria, in the principal half of the year. The banks are the United Bank of Africa, Fidelity Bank, Access Bank, Guarantee Trust Bank, and First […]
Nigeria Returns To International Capital Market For $6.2bn Eurobonds
Three years after it issued a debt instrument in the International Capital Market (ICM) with a $2.5 billion aggregate Eurobonds under its Global Medium Term Note Programme, Nigeria has announced plans for another visit to the global market. On offer this time is the issuance of N2.343 trillion ($6.2 billion) Eurobonds to part-finance the N5.2 […]
Nigeria Loses N217.79bn Since Twitter Ban
The Twitter ban in Nigeria has reached out to 100 days, and in that period, the country has lost N217.79bn The Federal Government had on June 4 suspended Twitter after the social-based media platform erased a tweet by the President, Major-General Muhammadu Buhari (retd.). Therefore, telcos on June 5 hindered admittance to Twitter in the […]
Global Financial Crisis Looms As US Risks Defaulting On National Debt
The global financial market may be heading towards an imminent crisis, as the United States is currently facing the risk of defaulting on its national debt in October. The US Secretary of the Treasury, Janet Yellen, gave the hint on Wednesday while warning congressional leaders that the country was on track to default on the […]
Kaduna Traders Defy Government Order, Resume Kawo Weekly Market
Traders in Kaduna have resumed trading activity on Tuesday at the Kawo market thereby defying the state government order on suspending weekly markets in the state. The government last week announced an indefinite suspension of trading at weekly markets, including the popular Kawo market in the state capital. The state Commissioner for Internal security, Samuel […]
