FG Poised To Do Much More Through ESP – Presidency
The Presidency has said that Nigeria’s prompt exit from recession is a key indicator of the success of the ongoing Economic Sustainability Plan approved by the Federal Government. This indication was given over the weekend by Mr. Laolu Akande, Senior Special Assistant to the President on Media and Publicity in the Office of the Vice […]
Bitcoin Hits A Fresh High of $56,000
Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier. The world’s most popular cryptocurrency rose to record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year. Bitcoin’s gains have been fuelled by evidence. […]
Shell Rattled By Bank Accounts Restrictions, As Aiteo Seeks $4bn For ‘16 Million Barrels Of Crude Diverted
There are strong indications that Tuesday’s injunction of a Federal High Court, Lagos, barring Royal Dutch Shell’s Nigerian subsidiary from withdrawing money at 20 local banks until it ring-fences potential damages in a lawsuit brought against the oil major by Aiteo Eastern E&P is already rattling the oil firm. The interim Mareva injunction is aimed […]
Bitcoin Is ‘Economic Side Show’ And Poor Hedge Against Stocks, JP Morgan Says
Bitcoin is an “economic side show” and a poor hedge against a decline in equity prices, analysts at JP Morgan said in a sobering assessment that could undercut the cryptocurrency’s rise to record highs. Current prices are well above JP Morgan’s estimates of fair value and the mainstream adoption of bitcoin increases its correlation with […]
Nigeria’s January Inflation Rates at Near 4-Year High
Nigeria’s annual inflation rate climbed for a 17th straight month to 16.47% in January of 2021, according to figures released by Nigeria’s National Bureau of Statistics. It was the highest inflation rate since April of 2017, as food inflation hit an over 12-year high of 20.57% linked to pandemic disruptions, insecurity in food producing states, dollar […]
World’s Largest Miner BHP Reports Best First Half Profit in Seven Years
BHP Group on Tuesday reported its best first-half profit in seven years and declared a record interim dividend, as top metals user China’s strong appetite for iron ore to support its infrastructure push kept prices elevated. China’s reliance on commodity-intensive stimulus measures to sustain economic growth has sent prices of the steel making ingredient to […]
Ngozi Okonjo-Iweala Makes History As First Female, First African DG Of WTO
Former Nigerian Minister of Finance, Dr Ngozi Okonjo-Iweala, has finally been chosen as Director-General of the World Trade Organisation (WTO). Ms Okonjo-Iweala will assume office on 1 March 2021 and will become the first woman and the first African to be chosen as Director-General. Her term, renewable, will expire on 31 August 2025. “This is […]
Elon Musk Says He Supports Top Dogecoin Holders Selling Their Coins
Billionaire Elon Musk said on Sunday that he supports major holders of the meme-based digital currency dogecoin selling most of their coins, adding that he felt too much concentration in dogecoin was the “real issue”. “If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the […]
Nigeria Banks On Finance Act For Quick Economic Recovery
Nigeria’s federal government has expressed optimism that the implementation of the Finance Act, 2020 and Strategic Revenue Growth Initiative (SRGI) will stimulate the economic recovery process through initiatives capable of growing fiscal revenues, improve Ease of Doing Business (EoDB), counteract the impact of oil price fluctuations and integrate fiscal, monetary and trade policies. The Finance […]
How 270 Crypto Addresses Laundered $1.3bn In 2020
Criminals are using a small group of cryptocurrency brokers and services to launder hundreds of millions of dollars of dirty virtual money, research shared with Reuters showed on Thursday. Just 270 crypto currency addresses, many connected to over-the-counter brokers, received $1.3 billion in illicit digital coins last year – some 55% of all criminal crypto […]
