JPMorgan Chase’s analysts have said that bitcoin price will decline to the $25,000 level before longer momentum will signal capitulation. They expect the cryptocurrency market to soon begin the process of healing, but expect further sell-offs before capitulation. Bitcoin price stood at $36,343.15 at 3:43 pm on Tuesday, according to CoinMarket. … [Read more…]
A Federal High Court sitting in Abuja has struck out a suit filed by Mr Paul Allen Oche against Nigerian Breweries Plc and three others over alleged copyright infringement. In the suit filed in February 2019, Mr Oche had claimed (amongst other reliefs) the sum of N1.5 billion being damages against the Company for … [Read more…]
The Central Bank of Nigeria has approved the release of 50,000 metric tonnes of maize to 12 major producers from strategic maize reserve under the Anchor Borrowers’ Programme. According to the CBN, the release of maize to the companies, which is the third of such releases, will reduce the price of grain in … [Read more…]
A Kano-based school, New Oxford Science Academy, Chiranchi, has adopted cryptocurrency as means of payment of school fees. The school’s principal, Sabi’u Musa Haruna, who confirmed the development to our correspondent said the decision was taken after extensive consultations with parents. He added that it would ease the payment of school fees. “We … [Read more…]
Nigeria’s local rice production increased from two million tonnes in 2015 to nine million tonnes in 2021. Making the declaration in Kaduna on Thursday, Aminu Goronyo, President, Rice Farmers Association of Nigeria (RIFAN) said with the current production rate, Nigeria was poised to become a rice exporting country. “Before the coming of the … [Read more…]
The High Court of the Federal Capital Territory sitting in Apo on Tuesday convicted and sentenced a former member of the House of Representatives, Farouk Lawan, for demanding a bribe of $3m and receiving $500,000 from businessman, Femi Otedola. The court found Lawan guilty of the three charges against him and sentenced him to … [Read more…]
Vice President Yemi Osinbajo, Tuesday, unveiled a Made-in-Nigeria fair in Abuja. The fair featured the first electric car assembled in Nigeria, among other locally manufactured products at the ongoing exhibition in, Abuja. Speaking at the exhibition at the Eagle Square, Prof Osinbajo described the development as “fantastic”, stating that the making of … [Read more…]
Inflation is deepening poverty and crippling the economy, experts said yesterday as the National Bureau of Statistics (NBS) released its May figure. Although hardline inflation gained a marginal 0.19 per cent from the April rate, leaving it at 17.93 per cent, the World Bank said additional seven million people have been pushed below the … [Read more…]
Victims of an alleged scam perpetrated by a Lagos-based forex training and capital investment company, MBA Capital and Trading Limited, are worried over their unpaid dividend and capital, and the disappearance of the Chief Executive Officer, Maxwell Odum. The victims, numbering 52, said the total amount they were defrauded of was N122,510,000, adding that … [Read more…]
Stakeholders in the Agricultural sector has appealed to the Federal Government to wade into plan by the Onions Farmers Association to block supply of onions to the southern parts of the country. The National President of Onion Producers, Mr Aliyu Umar, on May 30 said that the blockade was to avert the violence meted … [Read more…]
The Amalgamated Union of Food Stuff and Cattle Dealers of Nigeria (AFUCDN) says it will embark on a nationwide strike over alleged illegal roadblocks and multiple taxations on its members. The National President of the union, Mr Muhammed Tahir, stated this while addressing newsmen at the end of an emergency meeting of the … [Read more…]
Some banks have notified their customers that they will start charging them N6.98 for every USSD transactions. However, experts have said that excessive charges by banks could pose a threat to financial inclusion. According to them, it will increase cash transactions because many bank customers would avoid using the USSD for transactions … [Read more…]