Some financial experts on Wednesday in Ibadan, Oyo State, lauded the ban placed on Cryptocurrencies in Nigeria by the Central Bank of Nigeria, CBN. They told the News Agency of Nigeria that the move was necessary considering nefarious activities that could be carried out under the guise of secrecy that …
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The Executive Governor of Kaduna State, Malam Nasir El-Rufai said if the Federal Government provides the necessary incentives and environment to the private sector to compete in the African Continental Free Trade Area (AfCFTA) Agreement, Nigerians’ entrepreneurial spirit will conquer the continent. He said Nigeria is a huge market that …
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The Economist Intelligence Unit (EIU) has just unveiled its 2020 Democracy Index, a ranking of nations around the world based on their level of democracy. The document features 50 African countries, excluding Seychelles, South Sudan, Somalia, and Sao Tomé-et-Principe. Figures show that like 2019, 2020 also saw setbacks in democracy …
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BUA Group has frowned at the Coalition Against COVID-19 (CACOVID) for denying its earlier payment through the Coalition for 1 million AstraZeneca doses for Nigeria via the AFREXIM vaccine platform. The Coalition Against COVID-19 is a private sector-led organization in Nigeria established to assist the government in combating the Coronavirus …
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The Central Bank of Nigeria, CBN, has responded to the public condemnations over its decision to ban transactions in cryptocurrencies in the country, saying crypto doesn’t hold any legal status. “Most of these reactions reveal that there appears to be a need to provide further justifications about our position, especially …
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Oil prices rose on Monday to their highest in just over a year, with Brent nearing $60 a barrel while WTI crude standing at $57 a barrel at around 06:30 AM GMT, amid hopes that new US stimulus plans will boost global crude demand. Also, the gradual rollout of vaccines …
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President Muhammadu Buhari has called for a comprehensive reform of the structures and operations of the African Union, to make it more functional in meeting targets, warning that the organization would become stale, except it becomes more result oriented. In an intervention at the ongoing two-day 34th Summit of the …
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At least 15 suspects got arrested this week after Ethiopia successfully foiled a terrorist attack against the United Arab Emirates (UAE) embassy in Addis Ababa. The information was reported on 3rd of February by the National Intelligence and Security Service (NISS), which said it was “closely monitoring” the situation in …
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The World Bank has approved $500m to help boost access to electricity in Nigeria and improve the performance of the electricity distribution companies in the country. In a statement issued on Friday titled, ‘Nigeria to Improve Electricity Access and Services to Citizens,’ the World Bank said financial support would be …
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The Central Bank of Nigeria (CBN) has ordered banks to close corporate and personal accounts transacting in cryptocurrency in Nigeria. This is according to a circular dated 5th February 2021 distributed to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions (OFIs). “Further to earlier regulatory directives …
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