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Twitter chief partners with Jay-Z on $23 million bitcoin development fund
Twitter CEO Jack Dorsey and musician Jay-Z have pledged 500 bitcoin (around $23.3 million) toward ₿trust, an endowment to fund bitcoin development, Dorsey announced on Twitter today. The CEO said development will initially be…
Crypto’s dirty side: 270 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 news agency showed on Thursday. A total 270…
SEC joins CBN, bans crypto trading in Nigeria
The Securities and Exchange Commission (SEC) has joined the Central Bank of Nigeria (CBN) to ban crypto trading. SEC has stopped admittance of affected persons into its Regulatory…
Bauchi, Delta, Gombe… 26 states attracted zero foreign investments in 2020
Foreign investors ignored 26 states in Nigeria in the whole of 2020, a report released by the National Bureau of Statistics has shown. The capital importation report recently…
IMF sees Dangote Refinery’s potential of bailing Nigeria from economic downturn
The International Monetary Fund (IMF), the global financial watchdog is projecting that Nigeria's Dangote Refinery would provide an elixir for the country's economy when it is…
Court dismisses case against CBN’s directives on charges
The Federal High Court sitting in Abeokuta, Ogun State capital, has dismissed a suit instituted by a lawyer, Olumide Babalola, challenging the Central Bank of Nigeria…
Ecobank Nigeria introduces Money Transfer Via SMS, WhatsApp
Ecobank Nigeria says its customers are now able to transfer funds by email, SMS and Whatsapp – new features available on the Bank’s Mobile App. Speaking, Olukorede…
Stock Market Sheds N368bn as Investors Take Profit
The Nigerian stock market shed N368 billion last week following profit-taking activities by some investors after the massive gains in January. The market had appreciated by N1.1 trillion…
Elon Musk’s Tesla Buys $1.5bn of Bitcoin, Causing Currency to Spike
Elon Musk’s car firm Tesla has said it bought about $1.5bn (£1.1bn) of the cryptocurrency Bitcoin in January and expects to start accepting it as payment in future.…
Hedge funds are betting big on oil stocks, expecting higher prices
Hedge funds are turning bullish on oil once again, betting the pandemic and investors’ environmental focus has severely damaged companies’ ability to ramp up production.Such limitations on supply would push…
Court restrains DMO from paying Vine Oil N628m
A Federal High Court in Lagos on Saturday granted a Mareva Order restraining the Debt Management Office (DMO) from paying Vine Oil & Gas Ltd and a businessman, Ben…
SEC begins registration of ordinary nominee firms
Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) has directed non-custodian firms holding securities for their actual owners to apply for…
Why CBN moved against cryptocurrency trading – Source
Trading in Cryptocurrencies is not backed by the Central Bank of Nigeria (CBN) Act which recognizes the naira as the only legal tender in the Nigerian financial system, an…
Cryptocurrency: Bureaux de change operators back CBN’s ban
The Association of Bureaux De Change Operators of Nigeria (ABCON) has given its backing to the Central Bank of Nigeria’s (CBN) policy mandating banks to close accounts belonging to cryptocurrency traders.Speaking…
Arewa, Ohaneze Youths, Others Back Emefiele on Crypto Ban
The Arewa Consultative Youth Movement, Ohanaeze Ndi Igbo Youth Movement, Oduduwa Youths and Middle Belt Youths have hailed the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele,…
Tinapa: ECOWAS Court orders Cross River government to pay $6.5 million debt
The ECOWAS Court of Justice on Friday ordered the Cross River Government to repay the sum of US$6,455,846 to the ECOWAS Bank for Investment and Development (EBID). The regional court also ordered the state government to pay an…
Atiku Abubakar condemns crypto ban, demands immediate reversal from CBN
Nigeria’s opposition politician Atiku Abubakar on Saturday condemned Friday’s decision to ban cryptocurrencies by the Central Bank of Nigeria. The CBN issued a directive to all Nigerian banks against conducting Bitcoin…
Stanbic IBTC Announces Executive Appointments Across The Group
Stanbic IBTC Holdings PLC , a member of Standard Bank Group, has announced several key executive appointments across the Group, in a bid to fortify its…
Amazon’s new chief says it’s not done making video games, despite problems
Amazon’s incoming CEO, Andy Jassy, says he’s committed to Amazon’s video game development efforts, in response to a damning report from Bloomberg last week about the problems facing the team. “Some businesses take off in the first…
Shell Declares $21.7 Billion Loss In 2020
Royal Dutch Shell dived into a net loss of $21.7 billion in 2020, the oil giant announced on Thursday, February 4, 2021, as the coronavirus pandemic slashed global energy demand. The Anglo-Dutch group’s net loss compared with…
COVID-19 vaccine: Lagos company invents “cold bike”
A company, Food Doctors Nigeria Limited (FDNL), said it has invented a “cold bike” to aide safe transportation and distribution of vaccines in Nigeria. The Team Lead of FDNL, Mr Awesu…
Jeff Bezos to step down as Amazon CEO
Jeff Bezos, founder of Amazon, says he will step down as the chief executive officer of the e-commerce company by the third quarter of 2021. Bezos will now occupy the role of executive chair in the company which he…
EU claims court errors in bid to overturn $15.7 billion Apple tax judgment
EU antitrust enforcers have claimed a court made legal errors when it scrapped their order for iPhone maker Apple to pay 13 billion euros ($15.7 billion) in Irish back taxes, in a filing to have the verdict overturned. The…
Toyota reclaims crown as world’s biggest car company
Toyota sold more vehicles in 2020 than any other car company, edging ahead of Volkswagen Group in a year dominated by the pandemic Toyota was the world’s best-selling…