Business
Commercial banks in Nigeria will still accept old naira notes from customers after the February 10 deadline, the governor of the Central Bank of Nigeria, Godwin Emefiele, told the House of Representatives on Tuesday. Emefiele stated this while appearing before the ad hoc committee set up by the House on the CBN naira redesign policy, […]
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which measures interest rate from 16.5% to 17.5 percent to tame inflation. The CBN Governor, Godwin Emefiele announced this after the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. The MPC raised the monetary policy rate by 100 […]
New ‘Twitter Blue’ subscription feature is on track to be deployed next week – or else employees will be fired On Sunday, Elon Musk informed Twitter engineers that they had little more than a week to roll out a $20 per month fee for users to remain verified According to a report, Musk said that […]
The Central Bank has fined four banks for flouting its directive on cryptocurrency transactions. The CBN had in February 2021 ordered all banks to close accounts of anyone who transacts in cryptocurrency. According to the CBN, dealing in cryptocurrency or facilitating payments for cryptocurrency exchanges is prohibited. In a report by Bloomberg on Wednesday, the […]
Nigeria’s Gross Domestic Product (GDP) grew by 5.01% (year-on-year) in real terms in the second quarter of 2021, the National Bureau of Statistics (NBS) has said. The NBS disclosed this in the latest report on the nation’s GDP entitled Nigerian Gross Domestic Product Report (Q2 2021) released on Thursday. It explained that the increase in […]
The Deputy Governor, Corporate Services Department of the Central Bank of Nigeria (CBN), Mr Edward Adamu, has attributed the depreciation in the value of the naira to the effects of the COVID-19 pandemic on the economy, newsmen report. Adamu stated this at an interactive session with the House Committee on Finance on the 2022-2024 Medium-Term […]
Tesla hit the brakes Wednesday on letting people pay for electric cars with bitcoin, saying the computing-intense mining process of creating new cryptocurrency spews climate-harming emissions. “We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Tesla chief executive Elon Musk said in […]
Dr Ngozi Okonjo-Iweala has officially resumed as Director-General of the World Trade Organisation (WTO). As she took up the new role on Monday, the former Nigerian finance and foreign minister said she was eager to get straight to work as the first woman and first African to lead the beleaguered World Trade Organization. “I am […]
Nigeria’s Ngozi Okonjo-Iweala looks set to be confirmed Monday as the first woman and first African leader of the beleaguered World Trade Organization, a near-paralysed institution desperately needing a kick-start. The WTO has called a special general council meeting at which the former Nigerian finance minister and World Bank veteran is expected to be formally selected as […]
The Federal Government has issued an ultimatum to all telecommunications operators in the country to block all Subscriber Identification Modules (SIMs) without National Identification Number (NIN). It also ordered the network operators to ask all their subscribers to provide valid NIN to update their records and suspend SIM registration. These formed parts of the resolutions […]
