Finance

Court sets aside order seizing Jimoh Ibrahim’s assets over ‘N69.4 billion debt’

Justice Okon Abang of a Federal High Court in Abuja on Monday set aside his order made on January 4, directing the Asset Management Corporation of Nigeria (AMCON) to take over the assets belonging to a businessman, Jimoh Ibrahim, over alleged N69.4 billion debt.
African Export-Import Bank (Afreximbank)

Afreximbank, AAAM to drive automotive investment

The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a Memorandum of Understanding (MoU) for the financing and promotion of the automotive industry in Africa.
The Central Bank of Nigeria (CBN) says it will continue to do all within its regulatory powers to educate Nigerians to desist from use of cryptocurrencies — despite growing criticism.

Crypto ban: SEC, CBN to commence market research

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have agreed to collaborate and conduct research with a view to finding ways of regulating the Cryptocurrency market.
Cross-border digital payments service, World Remit has described the move by the Central Bank of Nigeria, CBN, mandating commercial banks to open dollar accounts for customers who do not have as timely and apt.

World Remit aligns with CBN on new dollar account opening

Cross-border digital payments service, World Remit has described the move by the Central Bank of Nigeria, CBN, mandating commercial banks to open dollar accounts for customers who do not have as timely and apt.
Bitcoin hit a record-high above $43,000 on Monday after electric carmaker Tesla invested $1.5 billion in the digital currency.

Bitcoin market cap nears $1 trillion

Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.

NEXIM Bank: N68 billion export fund disbursed to 68 beneficiaries

The Nigerian Export Import Bank (NEXIM) says it has disbursed N68.01 billion to 68 Nigerian entrepreneurs in the the last three years under its Export Development Fund.
FILE PHOTO - The logos of Amazon, Apple, Facebook and Google in a combination photo.-File Photo

BofA: Big tech-led equity inflows fuelling ‘mother-of-all asset bubbles’

A record rush to big technology stocks saw equity funds bagging $27.8 billion inflows last week with the ongoing ultra-easy monetary policy creating the “mother-of-all asset bubbles”, BofA said on Friday.
Nigerian National Petroleum Corporation (NNPC)

Official: NNPC not owing federation account N3.8 trillion

The Nigerian National Petroleum Corporation, (NNPC), has said that contrary to reports that it is owing the Federation Account the sum of N3.8 trillion, it is the Federation Account and Allocation Committee (FAAC) that’s owing it the sum of N787 billion from over draft.

Afreximbank, AAAM to fund automotive industry in Africa

The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a Memorandum of Understanding (MoU) for the financing and promotion of the automotive industry in Africa.
The World Bank on Thursday announced it selected former Senegal finance minister Makhtar Diop to lead the agency responsible for private sector finance at a critical time for the global recovery.

World Bank names former Senegal finance minister to head IFC

The World Bank on Thursday announced it selected former Senegal finance minister Makhtar Diop to lead the agency responsible for private sector finance at a critical time for the global recovery.

IMF endorses CBN’s policy on cryptocurrency, seeks FX rates unification

The International Monetary Fund (IMF) has expressed its support for the recent directive of the Central Bank of Nigeria (CBN) to financial institutions to ban transactions with cryptocurrency.

NAICOM: Local insurers losing out on big ticket transactions

The National Insurance Commission, NAICOM, has lamented the declining participation of local insurers in big ticket businesses such as aviation, annuity as well as oil and gas risks underwriting.
There are about one billion mobile money accounts globally, according to latest report by cybersecurity giants, Kerspersky. These accounts, the report revealed, process more than $1.9 billion daily.

Africa leads global mobile money growth with 46 percent

There are about one billion mobile money accounts globally, according to latest report by cybersecurity giants, Kerspersky. These accounts, the report revealed, process more than $1.9 billion daily.
Bitcoin hit a record-high above $43,000 on Monday after electric carmaker Tesla invested $1.5 billion in the digital currency.

Bitcoin rises above $50,000 for first time

Bitcoin rose above $50,000 for the first time on Tuesday as Wall Street pushed further into record territory on mounting confidence of Covid-19 recovery.
Access Bank Plc has urged its customers and the general public to disregard social media report of its shutting 340 branches nationwide.

Access Bank gives incentives to customers

At the launch of the campaign, the Executive Director, Retail Banking, Access Bank Plc, Victor Etuokwu, said, the Valentine season gave the bank an opportunity to, as reported by Thisday, show love to its customers and reward their loyalty for banking with us.
The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL PLC) has facilitated over N148 billion in finance and investments for agriculture and agribusiness.

NIRSAL facilitates N148 billion into agric sector

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL PLC) has facilitated over N148 billion in finance and investments for agriculture and agribusiness.
Dogecoin surprisingly dipped nine per cent Monday to 0.057 cent, a day after Elon Musk offered support for the digital currency.

Crypto: Dogecoin falls after Tesla boss’ offer of support

On Sunday, billionaire Elon Musk said he would buy the coin if its top holders agreed to sell, saying he considered too much concentration of Dogecoin among its major holders the only “real issue”.

Fidelity Bank Plc issues largest ticket Tier II local bonds in Nigeria

Fidelity Bank Plc has successfully issued 10 years N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031.
The Central Bank of Nigeria (CBN) says it will continue to do all within its regulatory powers to educate Nigerians to desist from use of cryptocurrencies — despite growing criticism.

Cryptocurrency: How 270 addresses got $1.3 billion illicit payments

Amidst the furore generated by the Central Bank of Nigeria’s crackdown on the activities of cryptocurrency traders, research has revealed that criminals are using a small group of crypto brokers to launder hundreds of millions of dollars around the world.
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.

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 Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Cryptocurrency: SEC to engage critical stakeholders on regulatory structure

As the recent directive by the Central Bank of Nigeria (CBN) asking commercial banks to stop facilitating cryptocurrency transactions in Nigeria continues to generate controversy, the Securities and Exchange Commission (SEC) has stated that it will continue to monitor developments in the digital asset space and further engage all critical stakeholders.
The Central Bank of Nigeria (CBN) says it will continue to do all within its regulatory powers to educate Nigerians to desist from use of cryptocurrencies — despite growing criticism.

Crypto ban: Nigerian banks begin deactivation of accounts

Nigerian banks have started blocking accounts of customers involved in crypto transactions, many sources are reporting.

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Hong Kong's leader, Carrie Lam, is set to formally withdraw the extradition bill that has sparked months of protests in the region, a government source has confirmed.

Hong Kong leader welcomes electoral changes, hints at vote delay

Hong Kong’s chief executive Carrie Lam has “fully” welcomed China’s planned changes to the city’s electoral system and hinted the reforms could further delay a vote for the territory’s legislature.
Nigerian Maritime Administration and Safety Agency (NIMASA) on Wednesday explained why its Director-General, Dr Dakuku Peterside, could not personally appear before a National Assembly (NASS) Joint Committee in Abuja on Tuesday.

Nigerian women can lead

In the year 2008, I co-edited a book, African Women Can Lead, published by Kachifo Limited under its prestige imprint. The book is a collection of essays and presentations made for three editions of the Development and Leadership Institute (DLI)’s “Women in Politics and Leadership” programme. We chose the book’s title after a rigorous debate by the advisory board of the programme.
The Judicial Commission of Inquiry set up by Governor Godwin Obaseki to investigate the construction of the Edo Specialist Hospital and supply of equipment has indicted former governor, Adams Oshiomhole.

APC blames Edo governor for lunatics, beggars roaming streets of Benin City

The Edo chapter of the All Progressives Congress has slammed Governor Godwin Obaseki for lunatics, beggars, and children roaming Benin streets.
Israel Adesanya’s flawless record came to an abrupt end following his defeat to Jan Blachowicz in the UFC 259 light heavyweight championship in Las Vegas.

Israel Adesanya: I didn’t sleep well before the fight

Israel Adesanya’s flawless record came to an abrupt end following his defeat to Jan Blachowicz in the UFC 259 light heavyweight championship in Las Vegas.
10. The NCDC and partners, with leadership from the Federal Ministry of Health and Presidential Task Force (PTF) on COVID-19 is putting in place measures to strengthen the public health response to the pandemic.

NCDC: What Nigeria needs to overcome coronavirus

Director-General of the NCDC, Dr. Chikwe Ihekweazu said this on Saturday in a statement signed by Ms. Omobolaji Oduwole, the Centre’s Head of Communications, to mark one year of COVID-19 response in Nigeria.

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Abia NUT suspends six-week-old strike over unpaid salary arrears

The Nigeria Union of Teachers (NUT) in Abia has announced the suspension of its six-week-old strike embarked upon to demand the payment of arrears of teachers’ salaries.

Oyo council polls: Selection of PDP candidates abuse of leadership, power – party chieftain

One of the leaders in Oyo state People’s Democratic Party (PDP), Alhaji Bisi Olopoeyan, has frowned at the ongoing selection process adopted by the leadership of the party in producing candidates for the upcoming local government election in the state.
President Muhammadu Buhari has decorated the Chief of Defence Staff (CDS), Lucky Irabor, with his new rank of four-star General, and the three service chiefs as three-star Generals. Others decorated on Friday by President Buhari at the Council Chambers of the Presidential Villa, Abuja were Lieutenant-General Ibrahim Attahiru, Chief of Army Staff; Vice Admiral Awwal Zubairu, Chief of Naval Staff; and Air Marshal Ishiaka Oladayo Amoo, Chief of Air Staff.

President Buhari charges new service chiefs to secure Nigeria in five weeks

President Muhammadu Buhari yesterday told the Chief of Defence Staff (CDS), General Lucky Irabor, and the three service chiefs in very plain terms that they have just few weeks to adequately secure the nation.

Southwest PDP: Prince Oyinlola lacks moral preserve to be a peacemaker

The People’s Democratic Party (PDP) in the South-West has said a former Governor of Osun State, Prince Olagunsoye Oyinlola, has no moral preserve to be a peacemaker on the political feud between former governor of Ekiti State, Ayodele Fayose and the Oyo State Governor, Seyi Makinde.
Former U.S. President Donald Trump has warned that under the Biden administration, the country’s dependence on foreign oil may increase and energy prices could rise.

Donald Trump says he predicts ‘energy disaster’ for America

Former U.S. President Donald Trump has warned that under the Biden administration, the country’s dependence on foreign oil may increase and energy prices could rise.