Category: Economy

Bitcoin Rises Above $40,000 In Mid-June

The world’s largest cryptocurrency, Bitcoin by market capitalisation surged above $40,000 for the first time since mid-June. According to data obtained from...

Naira Falls To N522/$1 At Parallel Market Over CBN Controversial Policy

Following the discontinuation of sale of foreign exchange (FX) to Bureaux De Change (BDCs) operators in the country by the Central Bank of Nigeria, the naira has dropped...

Jeff Bezos’ Amazon Denies Plan to Accept Bitcoin From Clients

Bad news for bitcoin investors as Amazon denied the claim that it is planning to incorporate cryptocurrency as a payment option to its eCommerce business. Bitcoin price...

Buhari Signs N983bn Supplementary Budget Into Law

The 2021 supplementary appropriation bill of N983 billion has been signed into law on Monday by President Muhammadu Buhari. This was announced by the senior special...

Restaurants, Hospitality Businesses Closed Amid Crackdown on Tax Evades in Lagos

Some hospitality businesses have been shutdown in Lagos state as Babajide Sanwo-olu-led administration crackdown on tax defaulters. The clampdown affected sixteen...

DPR: Petrol Price May Increase To N1,000 Per Litre If Subsidy Is Removed

The Department of Petroleum Resources (DPR) has stated that the pump price of petrol in Nigeria may rise to N1,000 per litre when the petrol subsidy regime ends without...

Ease Hardship Faced By Nigerians, Emir Of Kano Hints President Buhari

The Emir of Kano, Aminu Ado Bayero has asked President Muhammadu Buhari to devise ways to ease the suffering of Nigerians. According to Ado Bayero, the present economic...

List of States to Benefit as FEC Okays N331b For Road Contracts and others to Dangote as Tax Credit

The Federal Executive Council (FEC) yesterday approved 13 memoranda from seven ministries for various contracts worth N331,632,998,787 and $40,070,465. The contracts...

‘Nigeria loses $26.3b yearly to maritime insecurity’

President Muhamamadu Buhari has lamented the huge loss of revenue to maritime criminality. The President stated the loss at a whopping $26.3 billion yearly, a...

Naira slumps further as exchanges hit N504 at parallel market

The naira exchanged to the dollar at N504 at the parallel market on Friday, according to the Bureau de Change operators. It had earlier exchanged to the dollar at 500 in...