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 ...
Read More »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, ...
Read More »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 ...
Read More »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 ...
Read More »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 ...
Read More »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 ...
Read More »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 ...
Read More »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 ...
Read More »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 ...
Read More »