Key highlights NITDA says several websites are now posing as ChatGPT to steal people’s data. Users are being lured from Facebook pages to fraudulent websites. The agency warns Nigerians to be wary of clicking on links they are unsure of ...
Read More »Intel stops Bitcoin mining chips almost a year after release
Intel (NASDAQ: INTC) confirmed on Tuesday it is ending production of its processors used to mine Bitcoin, slightly higher than a year after launching them.“Once we prioritize our investments in IDM 2.0, we’ve end-of-life the Intel Blockscale 1000 Series ASIC ...
Read More »Naira Redesign: What CBN needs to do to prevent another scarcity
Key highlights Analysts advise that CBN needs to work with the non-cash vendors to take the demand for cash. Scarcity experienced was the failure of Banks not having cash but non-cash outlets(POS, online) failing due to excessive demand. FG urged ...
Read More »Nigeria’s economy set to be driven by non-oil sector in 2023 – World Bank
In its April 2023 Africa’s Pulse report, the World Bank stated that Nigeria’s economy is likely to be driven by the non-oil sector as oil production is projected to keep subdued in 2023 due to many factors. More details from ...
Read More »Binance Temporarily halts Spot Trading; Bitcoin Dips $700 Immediately
Bitcoin slightly dipped as Binance spot trading was suspended. Crypto exchange Binance suspended spot trading amid an issue on the world’s most-used trading platform for cryptocurrencies. “We are aware of an issue impacting spot trading on Binance,” Binance tweeted. “All ...
Read More »Fed Panics: Signature Bank Closed By Regulators; Fed, TSY, FDIC Announce Another Banking System Bailout
Source On Friday, we said that the Fed will have to make an announcement before the Monday open, and we didn’t have to wait that long: in fact, the Fed waited just 15 minutes after futures opened for trading to ...
Read More »The US financial sector is experiencing a large-scale crisis: the activities of two large Silicon Valley banks have been discontinued at once.
“Banks that served companies in the high-tech sector were at the center of the events. First of all, these are Silicon Valley Bank, Signature Bank, and Silvergate. Today, the problems accumulated by the States since 2008 are shooting up,” noted ...
Read More »FG orders filling stations to accept bank transfer, POS payments, threatens to sanction defaulters
The Federal Government has ordered filling station operators of filling stations across the country to start accepting the use of Point of Sales (POS) machines and bank transfers for the purchase of petroleum products, threatening to sanction them for non-compliance. ...
Read More »Zainab Ahmed says Nigeria disagrees with ‘surprise’ Moody’s downgrade
Nigeria’s finance minister, Zainab Ahmed, said on Thursday that she disagreed with what she called a “surprise” downgrade of the country’s credit rating by Moody’s. She insisted that the government was already addressing the agency’s concerns. Last week, Moody’s downgraded ...
Read More »Russia may issue gold-backed digital ruble
Russia may issue gold-backed stablecoins for international settlements, said Anatoly Aksakov, Chairman of the State Duma Committee on Financial Market, following his visit to Iran. “We discussed the issuance of stablecoins, digital financial assets, secured by certain values. For example, ...
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