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Tag Archives: Business Gist

Nigeria’s New $250 Million Dollars Lithium Battery Factory Set to Commence Operations

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bitcoins

Nearly 200K BTC have been absorbed by the 9 spot ETFs since January 11, 2024!

For some, this is something Bullish. For others, this may pose a major risk for the Bitcoin revolution, because so many BTC will no longer be usable in P2P for everyday payments. Regardless, this figure should be put into perspective ...

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reno

A devalued currency does not mean a poor economy!

It is fallacious to say Nigeria’s economy is in shambles or in poor condition, or even worse off than where Buhari left it, because of the floating of the Naira. Overall, our economy has expanded, according to the World Bank, ...

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Nigerian Naira to Dollar exchange

Top 20 things to do if you want Naira to Appreciate in Value

If you want the Naira to appreciate in value, do these twenty things. Instead of MTN, Airtel, or Etisalat, use Glo Instead of Mercedes, Range Rover, or Honda, buy Nord, Innoson Fly Air Peace over Air France, KLM, or Lufthansa ...

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zenith bank

Zenith Bank Pls denies the arrest of its Managing Director

Zenith Bank Plc has denied reports that its Managing Director, Ebenezer Onyeagwu was arrested by the Economic and Financial Crimes Commission (EFCC). In accordance with a record issued by the lender, it noted that the reports of the arrest were ...

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cbn

CBN dissolves boards of Union Bank, Keystone Bank, & Polaris Bank

The Central Bank of Nigeria (CBN) has officially dissolved the Board and Management of three prominent banks — Union Bank, Keystone Bank, and Polaris Bank. The press release dated January 10, 2024, indicates that action was due to the banks’non-compliance with critical regulatory ...

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cbn

Banks colluding with PoS operators to disrupt naira circulation, says CBN

The Central Bank of Nigeria has cautioned PoS operators over cash availability. This was made known in a statement signed by the Acting Director of Communication and Public Relations, Sidi Ali, on Thursday. The CBN noted that there is a ...

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ajaokuta

Itakpe Iron Ore Concession: NASS to Probe $496m Payment to Indian Firm

Sunday Aborisade in Abuja The National Assembly Joint Committee on Steel Development on Thursday passed a resolution to probe the $496m paid by the federal government to an Indian firm that failed to revitalize the Itakpe Iron Ore Company after three ...

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enaira cbn

Banks to disconnect non-deposit financial institutions from transfer list

Banks have been asked to disconnect Switches, Payment Solution Service Providers, and Super Agents from the Nigeria Inter-Bank Settlement System Instant Payment Outwards System.The NIBSS disclosed this in a circular dated December 5, 2023, with Ref: NIBSS/BD/NI/PO/005/051223 to banks. According ...

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bitcoins

Bitcoin Breaks $40K for the First Time in 18 Months

The price of Bitcoin (BTC) hit $40,000 on Sunday for the first time in 18 months, while Ethereum (ETH) rose past $2,200 amid a broader – if subdued – rally in the crypto markets.Bitcoin’s price had been toying with the ...

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